Description

BSE announces changes to the Short Term Additional Surveillance Measure (ST-ASM) framework, including 5 securities entering ST-ASM, 5 securities exiting, and a consolidated list of securities under surveillance effective November 18, 2025.

Summary

BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 18, 2025. Five new securities are being added to the ST-ASM framework, while five securities are being removed. The circular provides a consolidated list of all securities currently under the ST-ASM framework with their respective stages.

Key Points

  • 5 securities newly shortlisted for ST-ASM framework (Stage I)
  • 5 securities moving out of ST-ASM framework
  • No securities moving to higher or lower ASM stages
  • ST-ASM framework includes 5/15/30 days surveillance periods
  • Both main board and SME scrips are included in the framework
  • Effective date: November 18, 2025

Securities Entering ST-ASM (Stage I)

  1. Anand Rathi Share And Stock Brokers Ltd (544530, INE549H01021)
  2. GB Logistics Commerce Ltd (544348, INE0RWU01016) - SME Scrip
  3. Kanungo Financiers Ltd (540515, INE453S01015)
  4. Shree Hari Chemicals Export Ltd (524336, INE065E01017)
  5. Spright Agro Ltd (531205, INE179O01031)

Securities Exiting ST-ASM

  1. Containe Technologies Ltd (543606, INE0M8901010) - SME Scrip
  2. Kairosoft AI Solutions Ltd (506122, INE820M01018)
  3. Panth Infinity Ltd (539143, INE945O01019)
  4. Shivagrico Implements Ltd (522237, INE092H01014)
  5. Telogica Ltd (532975, INE778I01024)

Regulatory Framework

The ST-ASM framework is part of BSE’s enhanced surveillance mechanism to monitor securities exhibiting unusual price movements or volatility. Securities under this framework face:

  • Enhanced disclosure requirements
  • Additional monitoring by the exchange
  • Staged surveillance (5/15/30 days)
  • Potential progression to higher surveillance stages or other frameworks (LT-ASM, ESM, GSM, Trade for Trade)

Compliance Requirements

  • Market participants must note the updated surveillance status of these securities
  • Trading in ST-ASM securities may be subject to additional margins and restrictions
  • Investors should exercise caution when trading securities under surveillance
  • No securities are moving between stages in this update

Important Dates

  • Effective Date: November 18, 2025
  • Circular Date: November 17, 2025

Impact Assessment

Market Impact: Medium - The addition of 5 securities to ST-ASM framework will subject them to enhanced surveillance and potentially higher trading costs due to additional margins. The removal of 5 securities provides relief from surveillance restrictions.

Operational Impact: Trading members and investors dealing in these securities must adjust their risk management and compliance procedures accordingly. Securities entering ST-ASM may experience reduced liquidity and increased trading costs.

Notable Aspects:

  • 2 SME scrips are affected (1 entering, 1 exiting)
  • Securities can exit ST-ASM by meeting normal trading criteria or by being moved to other surveillance frameworks (LT-ASM, ESM, GSM, Trade for Trade, or Pledge Framework)
  • The consolidated list in Annexure III shows the complete universe of securities under ST-ASM surveillance

Impact Justification

Affects trading conditions for multiple securities through enhanced surveillance measures. While important for impacted stocks, this is a routine surveillance update affecting a limited number of securities.