Description

BSE circular regarding securities being added to, moved within, or removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 28, 2025.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective November 28, 2025. Four securities are being newly added to the ST-ASM framework at Stage I, while six securities are being removed from the framework. No securities are moving to higher or lower stages within the framework. The circular includes a consolidated list of all securities currently under ST-ASM surveillance.

Key Points

  • 4 securities newly shortlisted for ST-ASM framework (Stage I)
  • 6 securities moving out of ST-ASM framework
  • No securities moving to higher or lower stages within ST-ASM
  • Changes effective from November 28, 2025
  • Framework includes regular securities, SME scrips, and T+0 scrips
  • Consolidated list provided showing all securities under various ST-ASM stages

Securities Added to ST-ASM (Stage I)

  1. Bigbloc Construction Ltd (Scrip Code: 540061, ISIN: INE412U01025) - As per NSE
  2. Dhillon Freight Carrier Ltd (Scrip Code: 544556, ISIN: INE0SPJ01011) - SME scrip
  3. Jhandewalas Foods Ltd (Scrip Code: 540850, ISIN: INE841Y01019) - SME scrip
  4. Yug Decor Ltd (Scrip Code: 540550, ISIN: INE796W01019) - SME scrip

Securities Removed from ST-ASM

  1. Bhagwati Autocast Ltd (Scrip Code: 504646, ISIN: INE106G01014)
  2. Bhaskar Agrochemicals Ltd (Scrip Code: 524534, ISIN: INE972C01018)
  3. Marc Loire Fashions Ltd (Scrip Code: 544437, ISIN: INE0TBQ01014) - SME scrip
  4. Rico Auto Industries Ltd (Scrip Code: 520008, ISIN: INE209B01025)
  5. Unifinz Capital India Ltd (Scrip Code: 541358, ISIN: INE926R01012)
  6. Vandan Foods Ltd (Scrip Code: 544436, ISIN: INE0RDJ01019) - SME scrip

Regulatory Framework

The ST-ASM framework is a surveillance measure implemented to address concerns related to price volatility and protect investor interests. Securities can be placed under different stages (I, II, III) based on the severity of concerns. The framework applies to:

  • Regular equity securities
  • SME (Small and Medium Enterprise) scrips
  • T+0 trading scrips (based on parent company assessment)

Securities may move out of ST-ASM if included in other frameworks such as LT-ASM, Trade for Trade, GSM, Pledge Framework, or ESM.

Compliance Requirements

  • Market participants must note the updated surveillance status of affected securities
  • Trading in these securities will be subject to ST-ASM framework conditions
  • Enhanced due diligence required for securities under surveillance
  • Investors should be aware of increased monitoring and potential trading restrictions

Important Dates

  • Effective Date: November 28, 2025

Impact Assessment

Trading Impact: Securities added to ST-ASM will face enhanced surveillance measures, which may include additional margin requirements, price bands, or other restrictions. This typically results in reduced liquidity and increased volatility awareness.

Investor Impact: Investors holding or trading these securities should exercise increased caution. The surveillance designation indicates BSE has identified concerns warranting closer monitoring.

Market Impact: Limited broader market impact as changes affect only 10 securities. However, the continued use of ST-ASM demonstrates ongoing regulatory vigilance in protecting market integrity and investor interests.

Impact Justification

Affects trading in 10 securities (4 added, 6 removed) under enhanced surveillance framework. Important for traders and investors in these specific stocks but limited broader market impact.