Description

BSE circular announcing changes to Short Term ASM framework with 4 securities being added, 6 securities moving out, and consolidated list of securities under ST-ASM 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 shortlisted under ST-ASM Stage I, six securities are moving out of the framework, and a consolidated list of all securities currently under ST-ASM has been provided. The framework uses 5/15/30 days monitoring periods to identify securities with unusual price movements or trading patterns.

Key Points

  • 4 securities newly shortlisted in ST-ASM Stage I framework (3 SME scrips, 1 regular)
  • 6 securities moving out of ST-ASM framework (2 SME scrips, 4 regular)
  • No securities moving to higher or lower ASM stages within ST-ASM framework
  • Consolidated list shows at least 16 securities under ST-ASM Stage I
  • Changes effective from November 28, 2025
  • Framework includes special markers for NSE alignment (*), SME scrips (@), and T+0 scrips (~)

Securities Being Added to ST-ASM (Stage I)

Regular Market:

  • Bigbloc Construction Ltd (540061, INE412U01025) - marked as per NSE

SME Segment:

  • Dhillon Freight Carrier Ltd (544556, INE0SPJ01011)
  • Jhandewalas Foods Ltd (540850, INE841Y01019)
  • Yug Decor Ltd (540550, INE796W01019)

Securities Moving Out of ST-ASM

Regular Market:

  • Bhagwati Autocast Ltd (504646, INE106G01014)
  • Bhaskar Agrochemicals Ltd (524534, INE972C01018)
  • Rico Auto Industries Ltd (520008, INE209B01025)
  • Unifinz Capital India Ltd (541358, INE926R01012)

SME Segment:

  • Marc Loire Fashions Ltd (544437, INE0TBQ01014)
  • Vandan Foods Ltd (544436, INE0RDJ01019)

Consolidated List Includes

Partial list of securities remaining in ST-ASM Stage I:

  • AK Capital Services Ltd
  • Atishay Ltd
  • Bampsl Securities Ltd
  • Batliboi Ltd
  • Capital Trust Ltd
  • Classic Leasing & Finance Ltd
  • Dhampure Specialty Sugars Ltd
  • Eighty Jewellers Ltd (SME)
  • Eraaya Lifespaces Ltd
  • Garnet International Ltd
  • Getalong Enterprise Ltd (SME)
  • Global Surfaces Ltd
  • Jet Freight Logistics Ltd

Regulatory Framework

ST-ASM Purpose: Identifies securities with abnormal price movements or trading patterns over short periods (5/15/30 days)

Stage Progression: Securities can move between stages based on continued surveillance triggers or move out entirely if concerns are addressed or other frameworks apply

Exit Reasons: Securities may exit ST-ASM due to inclusion in:

  • LT-ASM Framework (*)
  • Trade for Trade Framework (**)
  • GSM Framework (#)
  • Pledge Framework (^)
  • ESM Framework ($)

Compliance Requirements

  • Securities under ST-ASM Stage I face enhanced surveillance and potential trading restrictions
  • Investors should exercise caution when trading these securities
  • Trading members must comply with ASM framework requirements for order placement and execution
  • Enhanced margin requirements may apply

Important Dates

  • Effective Date: November 28, 2025
  • All changes to ST-ASM classifications take effect from market opening on this date

Impact Assessment

Market Impact: Medium - affects 10 securities with changes and at least 16 total securities under surveillance

Trading Impact: Securities newly added to ST-ASM may face reduced liquidity and increased margin requirements, potentially leading to price volatility

Investor Impact: Investors holding or trading affected securities should be aware of enhanced surveillance status and potential trading restrictions

SME Segment: Significant portion of changes affect SME scrips, indicating continued focus on smaller company surveillance

Impact Justification

Regular surveillance measure update affecting 10 securities with trading restrictions. Important for investors and traders in affected stocks but part of routine market surveillance operations.