Description
BSE announces securities entering, moving within, and exiting the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 17, 2025.
Summary
BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 17, 2025. Seven securities are being newly included in the ST-ASM framework, twelve securities are moving out (due to migration to other surveillance frameworks), and the consolidated list includes securities at various ASM stages. The ST-ASM framework applies 5/15/30 day surveillance measures to securities exhibiting unusual price movements or volatility.
Key Points
- 7 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
- 12 securities moving out of ST-ASM Framework (migrating to LT-ASM, Trade for Trade, or ESM frameworks)
- No securities moving to higher or lower stages within ST-ASM framework
- Changes effective from November 17, 2025
- Includes both mainboard and SME scrips
- Some securities marked as per NSE alignment
Regulatory Changes
The ST-ASM framework continues to be applied as a surveillance mechanism for securities showing unusual price movements. Securities can be placed in different stages (Stage I being the initial stage) with progressively stricter surveillance measures. The framework operates on 5/15/30 day cycles to monitor and control volatility.
Securities Entering ST-ASM (Annexure I - Part A)
New Inclusions (7 securities):
- Ansal Buildwell Ltd (523007)
- HCP Plastene Bulkpack Ltd (526717)
- Indigo Paints Ltd (543258) - As per NSE
- JD Cables Ltd (544524) - SME Scrip
- Premier Synthetics Ltd (509835)
- Technopack Polymers Ltd (543656) - SME Scrip
- Venus Remedies Ltd (526953) - As per NSE
Securities Exiting ST-ASM (Annexure II - Part A)
Moving Out (12 securities):
- AA Plus Tradelink Ltd - Moving to Trade for Trade Framework (SME)
- Bharat Bhushan Finance & Commodity Brokers Ltd
- Exxaro Tiles Ltd - Moving to Trade for Trade Framework
- Gretex Corporate Services Ltd - Moving to ESM Framework
- Keynote Financial Services Ltd
- Krupalu Metals Ltd - Moving to LT-ASM Framework (SME)
- Lake Shore Realty Ltd - Moving to Trade for Trade Framework
- LG Balakrishnan & Bros Ltd - Moving to LT-ASM Framework
- Mufin Green Finance Ltd
- Rajratan Global Wire Ltd - Moving to LT-ASM Framework
- South West Pinnacle Exploration Ltd
- Suryo Foods & Industries Ltd - Moving to Trade for Trade Framework
Compliance Requirements
- Trading members must ensure compliance with ST-ASM framework requirements for affected securities
- Enhanced margin requirements and surveillance measures apply to securities in ST-ASM
- Members should update their systems to reflect the new classifications
- Investors trading in ST-ASM securities should be aware of stricter surveillance and potential trading restrictions
Important Dates
- Effective Date: November 17, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact:
- Securities entering ST-ASM may experience reduced liquidity due to enhanced surveillance measures
- Higher margin requirements may discourage speculative trading in affected securities
- Securities exiting ST-ASM but entering other frameworks (LT-ASM, Trade for Trade, ESM) will continue to face trading restrictions
Operational Impact:
- Trading members need to update risk management systems for the 19 securities (7 entering, 12 exiting)
- Investors holding positions in these securities should review their portfolios for potential liquidity constraints
- SME scrips marked with @ require special attention as they may have additional listing requirements
Investor Considerations:
- Enhanced surveillance indicates heightened regulatory scrutiny on price movements
- Trading costs may increase due to higher margins and reduced market making activity
- Long-term investors should monitor whether securities graduate to more stringent frameworks
Impact Justification
Affects trading conditions for multiple securities under surveillance framework, impacting liquidity and trading costs for affected stocks