Description

BSE updates on securities entering and exiting the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 27, 2025.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 27, 2025. Three securities are being newly shortlisted under the ST-ASM framework, while eleven securities are moving out of the framework. The circular provides consolidated lists of all securities currently under ST-ASM surveillance stages.

Key Points

  • 3 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework: Eraaya Lifespaces Ltd, Magellanic Cloud Ltd, and Pro Fin Capital Services Ltd
  • 11 securities moving out of ST-ASM Framework effective November 27, 2025
  • No securities moving to higher or lower ASM stages within the ST-ASM framework
  • Consolidated list includes securities across multiple ST-ASM stages (Stage I and others)
  • Framework applies to both main board and SME scrips
  • Some securities moving out due to inclusion in other surveillance frameworks (LT-ASM, GSM, etc.)

Securities Entering ST-ASM (November 27, 2025)

  1. Eraaya Lifespaces Ltd (Scrip Code: 531035, ISIN: INE432F01032)
  2. Magellanic Cloud Ltd (Scrip Code: 538891, ISIN: INE613C01026)
  3. Pro Fin Capital Services Ltd (Scrip Code: 511557, ISIN: INE732K01027)

Securities Exiting ST-ASM (November 27, 2025)

  1. ARCL Organics Ltd (543993, INE372M01010)
  2. E-Land Apparel Ltd (532820, INE311H01018)
  3. GE Power India Ltd (532309, INE878A01011)
  4. Jhandewalas Foods Ltd (540850, INE841Y01019) - SME scrip
  5. Maestros Electronics & Telecommunications Systems Ltd (538401, INE318N01011)
  6. Olatech Solutions Ltd (543578, INE0M3901015) - SME scrip, moving to LT-ASM
  7. Phaarmasia Ltd (523620, INE486I01016) - moving to GSM Framework
  8. Pioneer Investcorp Ltd (507864, INE746D01014)
  9. Titaanium Ten Enterprise Ltd (539985, INE120V01014) - SME scrip
  10. Vasundhara Rasayans Ltd (538634, INE406F01010)
  11. Vivid Mercantile Ltd (542046, INE647Z01025)

Surveillance Framework Details

ST-ASM Framework Purpose: Short Term Additional Surveillance Measure is applied to securities showing abnormal price movements or volatility to protect investor interests.

Movement to Other Frameworks:

  • Securities marked with (*) move to Long Term ASM (LT-ASM) Framework
  • Securities marked with (#) move to Graded Surveillance Measure (GSM) Framework
  • Securities marked with ($) move to Enhanced Surveillance Measure (ESM) Framework
  • Securities marked with (**) move to Trade for Trade Framework
  • Securities marked with (^) move to Pledge Framework

Special Categories:

  • Securities marked with (@) are SME scrips
  • Securities marked with (~) are T+0 scrips under ST-ASM based on parent company

Compliance Requirements

  • Market participants must note the revised surveillance status of affected securities
  • Trading in securities under ST-ASM is subject to specific surveillance conditions and margin requirements
  • Investors should be aware that securities under ASM framework may have reduced liquidity
  • Brokers must ensure compliance with surveillance framework requirements for affected securities

Important Dates

  • Effective Date: November 27, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: The addition of 3 securities and removal of 11 securities from ST-ASM indicates ongoing monitoring of market volatility and price movements. The net reduction in ST-ASM securities suggests improved stability in some counters.

Trading Impact: Securities entering ST-ASM will face stricter surveillance, potentially affecting liquidity and requiring higher margins. Securities exiting the framework will see relaxation of surveillance measures, though some are moving to other surveillance frameworks.

Investor Impact: Investors holding securities newly added to ST-ASM should expect potential trading restrictions and higher margin requirements. Those holding securities exiting ST-ASM may see improved liquidity unless the security moves to another restrictive framework.

SME Segment: Multiple SME scrips are affected, with some entering and others exiting the framework, reflecting the exchange’s focused surveillance on smaller companies.

Impact Justification

Affects trading conditions for specific securities under surveillance framework. Important for investors holding these stocks as it impacts liquidity and trading mechanisms.