Description

BSE announces securities being added to, moved within, and removed from the Long Term Additional Surveillance Measure (LT-ASM) framework effective November 18, 2025.

Summary

BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective November 18, 2025. Six securities are being newly shortlisted for LT-ASM, two securities are being moved directly to Stage IV ASM, and one security (Hemo Organic Ltd) is being removed from the framework due to inclusion in GSM Framework. The circular provides consolidated lists of all securities currently under various ASM stages.

Key Points

  • 6 new securities shortlisted in Long Term ASM Framework
  • 2 securities moved directly to Stage IV ASM framework
  • 1 security (Hemo Organic Ltd) moving out of LT-ASM due to GSM Framework inclusion
  • No securities being moved to higher or lower ASM stages within the framework
  • Consolidated list includes securities across ASM Stages I through IV
  • Changes effective from November 18, 2025

Securities Shortlisted (Part A)

New entries to Long Term ASM Framework:

  1. Containe Technologies Ltd (543606, INE0M8901010)
  2. Khandelwal Extractions Ltd (519064, INE687W01010)
  3. Rapicut Carbides Ltd (500360, INE350D01015)
  4. Trustwave Securities Ltd (508963, INE668Y01016)
  5. Tuni Textile Mills Ltd (531411, INE560D01027)
  6. Vivanza Biosciences Ltd (530057, INE984E01035)

Securities Moved to Direct Stage IV (Part D)

  1. Blue Pearl Agriventures Ltd (514440, INE439N01031) - Moved to ASM Stage IV
  2. Midwest Gold Ltd (526570, INE519N01014) - Moved to ASM Stage IV

Securities Moving Out (Part B)

  1. Hemo Organic Ltd (524590, INE422G01015) - Moving out due to inclusion in GSM Framework

Regulatory Changes

The Long Term ASM Framework continues BSE’s surveillance mechanism to identify securities with abnormal price movements or trading patterns. Securities may be:

  • Moved to Trade for Trade framework
  • Included in GSM (Graded Surveillance Measure) Framework
  • Included in ESM (Enhanced Surveillance Measure) Framework
  • Included in IBC (Insolvency and Bankruptcy Code) Framework
  • Subject to T+0 trading restrictions

Compliance Requirements

  • Market participants must note the updated ASM classifications for affected securities
  • Trading members should adjust their risk management systems accordingly
  • Investors should be aware of enhanced surveillance measures applicable to these securities
  • Special attention required for securities moving to higher ASM stages

Important Dates

  • Effective Date: November 18, 2025
  • All changes to LT-ASM framework applicability take effect from this date

Impact Assessment

The inclusion of securities in the LT-ASM framework typically results in:

  • Enhanced monitoring of trading activities
  • Potential trading restrictions or additional margin requirements
  • Reduced liquidity for affected securities
  • Increased scrutiny on price movements and volumes
  • Potential movement to more restrictive frameworks (GSM, ESM, Trade-for-Trade)

Investors holding positions in newly included securities should review their exposure and understand the implications of ASM classification on trading and settlement.

Impact Justification

Affects trading conditions for specific securities under surveillance framework. Impacts liquidity and trading for listed companies.