Description
BSE updates the list of securities under Enhanced Surveillance Measure framework, with Khandelwal Extractions Ltd being newly added effective November 27, 2025.
Summary
BSE has issued updates to the Enhanced Surveillance Measure (ESM) framework effective November 27, 2025. One new security, Khandelwal Extractions Ltd (Scrip Code: 519064, ISIN: INE687W01010), has been shortlisted for inclusion in the ESM framework. No securities are moving to higher or lower ESM stages, and no securities are exiting the framework at this time. The consolidated list shows 30 securities currently under ESM, with the majority in Stage I surveillance.
Key Points
- Khandelwal Extractions Ltd newly added to ESM framework (Stage I)
- No securities being moved to higher ESM stages
- No securities being moved to lower ESM stages
- No securities exiting the ESM framework
- Total of 30 securities remain under ESM surveillance as per consolidated list
- Framework continues to monitor securities based on various risk parameters
Regulatory Changes
The ESM framework is designed to alert investors about securities with abnormal price movements or trading patterns. Securities under ESM face additional surveillance and may have specific trading restrictions. The framework operates in multiple stages (I, II, etc.) with increasing levels of scrutiny.
Compliance Requirements
- Trading members must note the inclusion of Khandelwal Extractions Ltd in ESM framework
- Investors should be aware of enhanced surveillance status when trading affected securities
- ESM securities may be subject to additional margin requirements and price bands
- Trading members must ensure compliance with applicable ESM framework provisions
Important Dates
- Effective Date: November 27, 2025 - ESM changes become applicable
Impact Assessment
Market Impact: The addition of one security to ESM framework has limited immediate market-wide impact, though it signals regulatory concern about that specific security’s trading patterns.
Trading Impact: Khandelwal Extractions Ltd will face enhanced surveillance, which may include additional disclosures, price bands, or trading restrictions depending on ESM stage requirements.
Investor Impact: Investors in affected securities should exercise caution and be aware of the reasons for ESM inclusion, which typically relate to price volatility, low market capitalization, or other risk factors.
Consolidated ESM Securities List (Top 30)
The following securities remain under Enhanced Surveillance:
- AAA Technologies Ltd (Stage I)
- Aarey Drugs & Pharmaceuticals Ltd (Stage I)
- Aarvee Denims & Exports Ltd (Stage I)
- ABM Knowledgeware Ltd (Stage I)
- Abram Food Ltd (Stage I)
- ADC India Communications Ltd (Stage I)
- Adcon Capital Services Ltd (Stage I)
- Adinath Textiles Ltd (Stage I)
- Alan Scott Enterprises Ltd (Stage I)
- Ambitious Plastomac Company Ltd (Stage I)
- Ameenji Rubber Ltd (Stage I)
- Amit Securities Ltd (Stage II)
- Anand Rayons Ltd (Stage I)
- Andhra Cements Ltd (Stage I)
- Anirit Ventures Ltd (Stage II)
- Anka India Ltd (Stage I)
- Anlon Healthcare Ltd (Stage I)
- Apis India Ltd (Stage I)
- Aplab Ltd (Stage II)
- Aptus Pharma Ltd (Stage I)
- Arfin India Ltd (Stage I)
- Aris International Ltd (Stage I)
- Artificial Electronics Intelligent Material Ltd (Stage I)
- Arunis Abode Ltd (Stage II)
- Arunjyoti Bio Ventures Ltd (Stage I)
- Aryaman Financial Services Ltd (Stage I)
- Asarfi Hospital Ltd (Stage I)
- Ashnisha Industries Ltd (Stage I)
- Atlantaa Ltd (Stage I)
- Autoriders International Ltd (Stage I)
Note: Securities marked with # are SME scrips, and those marked with * are as per NSE classification.
Impact Justification
Updates ESM framework affecting one security with potential trading restrictions. Consolidated list shows 30+ securities under surveillance, indicating ongoing market monitoring activity.