Description
BSE announces changes to securities under Short Term Additional Surveillance Measure framework, with 10 securities being added, 1 moved to lower stage, and 6 securities moving out effective November 19, 2025.
Summary
BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 19, 2025. The circular details 10 securities being newly shortlisted for ST-ASM Stage I, 1 security moving to a lower stage, and 6 securities exiting the framework. The ST-ASM framework is designed to alert investors about securities experiencing abnormal price movements and increased volatility.
Key Points
- 10 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework (Stage I)
- 1 security (Welcure Drugs & Pharmaceuticals Ltd) moving to lower Stage ASM
- 6 securities moving out of ST-ASM Framework completely
- Changes effective from November 19, 2025
- Framework includes both mainboard and SME scrips
- No securities moving to higher Stage ASM
Securities Added to ST-ASM Framework
New entries in Stage I (effective November 19, 2025):
- ARCL Organics Ltd (543993)
- E-Land Apparel Ltd (532820)
- GE Power India Ltd (532309)
- Jhandewalas Foods Ltd (540850) - SME scrip
- Maestros Electronics & Telecommunications Systems Ltd (538401)
- Ovobel Foods Ltd (530741)
- Pioneer Investcorp Ltd (507864)
- Sizemasters Technology Ltd (513496)
- Vasundhara Rasayans Ltd (538634)
- Vivid Mercantile Ltd (542046)
Securities Moving Out of ST-ASM Framework
Exiting effective November 19, 2025:
- Aarnav Fashions Ltd (539562)
- Kunststoffe Industries Ltd (523594)
- Premco Global Ltd (530331)
- Shriram Asset Management Company Ltd (531359)
- Vanta Bioscience Ltd (540729) - SME scrip
- Infinity Infoway Ltd (544567) - SME scrip
Securities Moving to Lower Stage
- Welcure Drugs & Pharmaceuticals Ltd (524661) - Moving to lower stage while continuing in ST-ASM framework
Regulatory Framework
The Short Term ASM framework is a surveillance measure that applies additional monitoring and trading restrictions to securities showing unusual price and volume behavior. Securities can be placed in different stages (5/15/30 days) based on severity, with each stage having specific trading restrictions and margin requirements.
Compliance Requirements
- Investors trading in ST-ASM securities must be aware of enhanced surveillance measures
- Higher margins may be applicable on these securities
- Trading restrictions may include price bands, trade-for-trade segments, or other measures
- Market participants should review updated consolidated list in Annexure III
Important Dates
- Effective Date: November 19, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
For Investors:
- Existing holders of newly added securities may face trading restrictions and higher margin requirements
- Securities exiting ST-ASM will have eased trading conditions
- Increased scrutiny on price movements for securities entering the framework
Market Impact:
- Limited broader market impact as affected securities are primarily small/mid-cap stocks
- Enhanced investor protection through early warning system
- May lead to reduced liquidity in affected securities temporarily
- 2 SME scrips among additions and 2 among exits indicate active surveillance of smaller companies
Impact Justification
Moderate impact affecting 17 securities with trading restrictions under surveillance framework; important for investors holding these stocks but limited broader market impact