Description
BSE circular announcing securities being added to, moved within, or removed from the Short Term Additional Surveillance Measure framework effective November 19, 2025.
Summary
BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 19, 2025. The circular identifies 10 securities being newly included in ST-ASM, 1 security moving to a lower stage, and 6 securities being removed from the framework. ST-ASM is applied to securities showing abnormal price movements or excessive volatility to protect investor interests.
Key Points
- 10 securities newly shortlisted in ST-ASM Framework including ARCL Organics Ltd, E-Land Apparel Ltd, GE Power India Ltd, and others
- 1 security (Welcure Drugs & Pharmaceuticals Ltd) moving to lower stage ASM
- 6 securities being removed from ST-ASM Framework including Aarnav Fashions Ltd, Kunststoffe Industries Ltd, and 2 SME scrips
- No securities moving to higher stage ASM
- Framework includes Stage I surveillance measures for various securities
- Effective date: November 19, 2025
Regulatory Changes
The ST-ASM framework continues BSE’s surveillance mechanism for securities exhibiting abnormal price movements. Securities in this framework are subject to trading restrictions including reduced position limits, 100% upfront margin requirements, and increased price bands depending on the stage (5/15/30 days). Movement between stages or entry/exit from the framework is based on price and volume behavior analysis.
Compliance Requirements
- Trading members must ensure compliance with ST-ASM stage-specific requirements for affected securities
- Enhanced margin requirements (100% upfront) apply to securities under ST-ASM
- Position limits and price bands as per respective stage levels must be adhered to
- Clients trading in ST-ASM securities should be informed of applicable restrictions
- SME scrips (marked @) and T+0 scrips (marked ~) have specific applicability rules
Important Dates
- Effective Date: November 19, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact: Limited to specific securities identified in the circular. Investors holding or trading these stocks will face enhanced surveillance measures including stricter margin requirements and potential trading restrictions.
Investor Impact: Investors in the 10 newly added securities will experience increased trading costs due to higher margin requirements and reduced liquidity. Securities moving out of the framework (6 stocks) will see relaxation of restrictions, potentially improving liquidity.
Operational Impact: Trading members need to update their risk management systems to reflect the new ST-ASM categorizations and ensure proper application of surveillance measures from November 19, 2025.
Securities Added to ST-ASM (Annexure I - Part A)
- ARCL Organics Ltd (543993)
- E-Land Apparel Ltd (532820)
- GE Power India Ltd (532309)
- Jhandewalas Foods Ltd (540850) - SME
- 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 to Lower Stage
- Welcure Drugs & Pharmaceuticals Ltd (524661)
Securities Removed from ST-ASM (Annexure II)
- Aarnav Fashions Ltd (539562)
- Kunststoffe Industries Ltd (523594)
- Premco Global Ltd (530331)
- Shriram Asset Management Company Ltd (531359)
- Vanta Bioscience Ltd (540729) - SME
- Infinity Infoway Ltd (544567) - SME
Impact Justification
Affects trading in 19+ securities through surveillance measures. Important for investors and traders in these specific stocks but limited broader market impact.