Description

BSE announces securities being added to, continuing in, and moving out of the Short Term Additional Surveillance Measure framework effective November 20, 2025.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 20, 2025. The circular identifies 10 securities being newly added to the ST-ASM framework, 9 securities moving out of the framework, and provides a consolidated list of all securities currently under ST-ASM surveillance. Securities under this measure face enhanced surveillance and trading restrictions based on price volatility and other risk parameters.

Key Points

  • 10 securities are being newly shortlisted in Short Term 5/15/30 Days ASM Framework from November 20, 2025
  • 9 securities are moving out of ST-ASM Framework, with some transitioning to other surveillance frameworks (LT-ASM, Trade for Trade, GSM, Pledge, ESM)
  • No securities are moving to higher or lower stages within the ST-ASM framework
  • The framework includes both regular securities and SME scrips (marked with @)
  • T+0 scrips are shortlisted based on their parent company status (marked with ~)
  • Consolidated list shows securities classified under Stage I of Short Term ASM

Regulatory Changes

The ST-ASM framework applies short-term surveillance measures (5/15/30 days) to securities exhibiting unusual price movements or trading patterns. Securities under this framework are subject to:

  • Enhanced monitoring by the exchange
  • Potential trading restrictions including higher margins
  • Periodic review for continuation, upgrade, or removal from the framework

Securities may move between different surveillance frameworks (ST-ASM, LT-ASM, GSM, ESM, Trade for Trade, Pledge Framework) based on their risk profile and compliance status.

Securities Being Added to ST-ASM (Effective November 20, 2025)

  1. Atishay Ltd (538713, INE011R01013)
  2. Bhagwati Autocast Ltd (504646, INE106G01014)
  3. Bhaskar Agrochemicals Ltd (524534, INE972C01018)
  4. Classic Leasing & Finance Ltd (540481, INE949C01016)
  5. Danube Industries Ltd (540361, INE575D01041)
  6. Marc Loire Fashions Ltd@ (544437, INE0TBQ01014) - SME Scrip
  7. Rico Auto Industries Ltd* (520008, INE209B01025) - As per NSE
  8. South West Pinnacle Exploration Ltd* (543986, INE980Y01015) - As per NSE
  9. Unifinz Capital India Ltd (541358, INE926R01012)
  10. Vandan Foods Ltd@ (544436, INE0RDJ01019) - SME Scrip

Securities Moving Out of ST-ASM (Effective November 20, 2025)

  1. Chennai Petroleum Corporation Ltd* (500110, INE178A01016) - Moving to LT-ASM
  2. Fischer Medical Ventures Ltd* (524743, INE771F01041) - Moving to LT-ASM
  3. Gallantt Ispat Ltd (532726, INE297H01019)
  4. Laddu Gopal Online Services Ltd (537707, INE546I01025)
  5. Rnit Ai Solutions Ltd (517286, INE335Q01026)
  6. Sera Investments & Finance India Ltd (512399, INE017I01027)
  7. Sizemasters Technology Ltd* (513496, INE235U01012) - Moving to LT-ASM
  8. Transformers and Rectifiers (India) Limi~ (132928, INE763I01026) - T+0 Scrip
  9. Transformers and Rectifiers (India) Ltd (532928, INE763I01026)

Compliance Requirements

  • Market participants trading in securities under ST-ASM framework must comply with enhanced surveillance requirements
  • Investors should be aware of potential higher margin requirements and trading restrictions for these securities
  • Listed companies under ST-ASM should monitor their inclusion status and work towards compliance to exit the framework
  • Brokers and trading members must ensure systems are updated to reflect the revised ST-ASM list

Important Dates

  • Effective Date: November 20, 2025 - All changes to ST-ASM framework take effect
  • Circular Date: November 19, 2025

Impact Assessment

Market Impact: Medium - The changes affect 19 securities with 10 entering and 9 exiting the ST-ASM framework. While this represents a small subset of the overall market, affected securities will experience changes in trading conditions.

Trading Impact: Securities entering ST-ASM may face reduced liquidity due to enhanced surveillance and potential margin increases. Investors in these stocks should expect higher volatility monitoring and possible trading restrictions.

Investor Impact: Holders of affected securities should review their positions, especially for the 10 newly added stocks. Enhanced surveillance typically signals exchange concerns about price movements or trading patterns.

Transition Impact: Securities moving from ST-ASM to other frameworks (particularly LT-ASM) face continued surveillance but under different parameters, which may result in different trading conditions and margin requirements.

Impact Justification

Affects trading conditions for 19 securities through ST-ASM framework changes, impacting liquidity and trading mechanics for investors in these specific stocks