Description

BSE announces securities entering and exiting Long Term ASM Framework effective November 26, 2025, including 4 new additions and stage movements.

Summary

BSE has issued an update on securities subject to Long Term Additional Surveillance Measure (LT-ASM) Framework effective November 26, 2025. Four new securities have been added to LT-ASM, one security moves to a higher ASM stage (Stage II), and one security exits the framework due to inclusion in GSM Framework. The circular provides consolidated lists of all affected securities across different ASM stages.

Key Points

  • 4 securities newly shortlisted in Long Term ASM Framework: Bharatrohan Airborne Innovations Ltd, Hanman Fit Ltd, M P K Steels (I) Ltd, and Virat Leasing Ltd
  • Omnipotent Industries Ltd moves from current stage to ASM Stage II while remaining in LT-ASM Framework
  • Gopal Iron & Steels Company Gujarat Ltd exits LT-ASM due to inclusion in GSM Framework
  • No securities moving to lower ASM stages
  • No securities directly placed in Stage IV LT-ASM Framework
  • Consolidated list includes securities across ASM Stages I through IV

Regulatory Changes

The Long Term ASM Framework continues to operate as a surveillance mechanism for securities exhibiting specific risk characteristics. Securities can enter the framework directly, move between stages based on ongoing assessment, or exit when placed under other surveillance frameworks (Trade for Trade, GSM, ESM, or IBC Framework). The framework maintains stage-wise classification with progressively stringent surveillance measures.

Compliance Requirements

  • Trading members must note the revised LT-ASM classification effective November 26, 2025
  • Securities in LT-ASM Framework are subject to specific trading restrictions based on their ASM stage
  • Market participants should review positions in affected securities
  • Enhanced surveillance measures apply to all securities listed in the framework

Important Dates

  • Effective Date: November 26, 2025 - New LT-ASM classifications become applicable

Impact Assessment

Market Impact: Limited to specific securities under surveillance. The addition of 4 securities to LT-ASM and movement of 1 security to higher stage indicates heightened regulatory scrutiny on these stocks. Trading volumes and liquidity may be affected due to additional surveillance measures.

Investor Impact: Investors holding the 4 newly added securities will face additional trading restrictions. The exit of Gopal Iron & Steels from LT-ASM (due to GSM inclusion) suggests continued regulatory concerns but under a different framework.

Operational Impact: Brokers and trading systems must update surveillance classifications for affected securities to ensure compliance with stage-specific restrictions.

Impact Justification

Affects trading conditions for specific securities under surveillance framework, with direct impact on 6 stocks but limited broader market implications