Description

BSE announces changes to Short Term ASM Framework effective November 19, 2025, including 10 securities being added, 1 security moving to lower stage, and 6 securities moving out of the framework.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) Framework effective November 19, 2025. Ten securities are being newly shortlisted into the ST-ASM framework, one security will move to a lower stage within the framework, and six securities are moving out of the ST-ASM framework entirely.

Key Points

  • 10 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • 1 security (Welcure Drugs & Pharmaceuticals Ltd) moving to lower Stage ASM
  • 6 securities moving out of ST-ASM Framework
  • No securities moving to higher Stage ASM
  • Changes effective from November 19, 2025
  • Framework includes SME scrips and T+0 scrips

Securities Being Added to ST-ASM Framework

Newly Shortlisted Securities (Stage I):

  1. ARCL Organics Ltd (543993, INE372M01010)
  2. E-Land Apparel Ltd (532820, INE311H01018)
  3. GE Power India Ltd* (532309, INE878A01011)
  4. Jhandewalas Foods Ltd@ (540850, INE841Y01019)
  5. Maestros Electronics & Telecommunications Systems Ltd (538401, INE318N01011)
  6. Ovobel Foods Ltd (530741, INE812S01012)
  7. Pioneer Investcorp Ltd (507864, INE746D01014)
  8. Sizemasters Technology Ltd (513496, INE235U01012)
  9. Vasundhara Rasayans Ltd (538634, INE406F01010)
  10. Vivid Mercantile Ltd (542046, INE647Z01025)

*As per NSE @SME Scrips

Securities Moving to Lower Stage ASM

  1. Welcure Drugs & Pharmaceuticals Ltd (524661, INE331C01025)

Securities Moving Out of ST-ASM Framework

  1. Aarnav Fashions Ltd (539562, INE750R01016)
  2. Kunststoffe Industries Ltd (523594, INE638D01021)
  3. Premco Global Ltd (530331, INE001E01012)
  4. Shriram Asset Management Company Ltd (531359, INE777G01012)
  5. Vanta Bioscience Ltd@ (540729, INE695X01011)
  6. Infinity Infoway Ltd@ (544567, INE16XA01017)

@SME Scrips moving out from ST-ASM Framework

Regulatory Changes

The Short Term Additional Surveillance Measure (ST-ASM) Framework continues to be applied for securities showing abnormal price movements or unusual trading patterns. Securities may move out of ST-ASM if they are included in other surveillance frameworks including:

  • LT-ASM Framework
  • Trade for Trade Framework
  • GSM Framework
  • Pledge Framework
  • ESM Framework

Compliance Requirements

  • Market participants must note the securities under ST-ASM framework for trading purposes
  • Enhanced surveillance applies to all listed securities in the framework
  • Special attention required for SME scrips and T+0 scrips marked in the framework
  • Traders should review position limits and margin requirements for affected securities

Important Dates

  • Effective Date: November 19, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

The ST-ASM framework is designed to curb excessive speculation and protect investor interests in securities displaying unusual price or volume behavior. Securities placed under this framework face:

  • Additional margin requirements
  • Price bands restrictions
  • Potential liquidity constraints
  • Increased scrutiny from market surveillance

Investors holding positions in the newly added securities should be aware of stricter trading conditions. The movement of Welcure Drugs & Pharmaceuticals to a lower stage indicates improved trading behavior, while securities exiting the framework suggest normalization of trading patterns or migration to other surveillance measures.

Impact Justification

Affects 17 securities across multiple surveillance stages with trading implications for investors and market participants in these stocks