Description

BSE announces changes to securities under Short Term Additional Surveillance Measure framework effective November 27, 2025, including new additions, movements, and exits from the ST-ASM framework.

Summary

BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 27, 2025. Three new securities are being added to the framework, while 11 securities are being removed. No securities are being moved to higher or lower stages within the framework. The circular provides consolidated lists of all affected securities with their respective ASM stages.

Key Points

  • 3 new securities 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, including moves to LT-ASM, GSM, and other surveillance frameworks
  • No securities moving to higher or lower stages within ST-ASM framework
  • Effective date: November 27, 2025
  • Framework includes special markings for SME scrips (@), T+0 scrips (~), and various exit reasons

Regulatory Changes

New Additions to ST-ASM (Stage I):

  1. Eraaya Lifespaces Ltd (531035, INE432F01032)
  2. Magellanic Cloud Ltd (538891, INE613C01026) - as per NSE
  3. Pro Fin Capital Services Ltd (511557, INE732K01027)

Securities Exiting ST-ASM Framework:

  • Moving to LT-ASM: Olatech Solutions Ltd
  • Moving to GSM: Phaarmasia Ltd
  • Other exits: ARCL Organics Ltd, E-Land Apparel Ltd, GE Power India Ltd, Jhandewalas Foods Ltd, Maestros Electronics, Pioneer Investcorp Ltd, Titaanium Ten Enterprise Ltd, Vasundhara Rasayans Ltd, Vivid Mercantile Ltd

Compliance Requirements

  • Securities in ST-ASM framework are subject to additional surveillance measures including potential price bands, trading restrictions, and enhanced margin requirements
  • Market participants must note the stage classification (Stage I indicated for new additions)
  • Special attention required for SME scrips and T+0 scrips marked with special symbols
  • Traders and investors should review their positions in affected securities before the effective date

Important Dates

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

Impact Assessment

Market Impact: The addition of 3 securities to ST-ASM framework will subject them to enhanced surveillance and potentially reduced liquidity. The removal of 11 securities indicates improved market conditions for those stocks, with some transitioning to other surveillance frameworks (LT-ASM, GSM) based on different risk parameters.

Trading Impact: Securities entering ST-ASM Stage I will face additional trading restrictions and higher margin requirements, potentially reducing speculative activity. Exits from the framework generally indicate improved compliance or transfer to alternative monitoring mechanisms.

Investor Impact: Investors holding positions in the 3 newly added securities should expect reduced liquidity and higher transaction costs. For the 11 exiting securities, impact varies - those moving to other surveillance frameworks remain under monitoring, while others may see normalized trading conditions.

Impact Justification

Affects trading conditions for specific securities under surveillance framework. Limited to identified stocks but impacts liquidity and trading costs for those securities.