Description
BSE announces changes to securities under Short Term Additional Surveillance Measure framework effective December 01, 2025, including additions, removals, and stage movements.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 01, 2025. Six securities are being added to the ST-ASM framework, while eight securities are moving out. The circular provides consolidated lists of all securities under ST-ASM surveillance with their respective stages.
Key Points
- 6 securities shortlisted for ST-ASM framework including Best Agrolife Ltd, Gilada Finance & Investments Ltd, Halder Venture Ltd, JD Cables Ltd, Srigee Dlm Ltd, and Supertech Ev Ltd
- 3 of the newly added securities are SME scrips (JD Cables Ltd, Srigee Dlm Ltd, Supertech Ev Ltd)
- 8 securities moving out of ST-ASM framework: Garnet International Ltd, Magellanic Cloud Ltd, Parmeshwar Metal Ltd, Regal Entertainment & Consultants Ltd, Universal Cables Ltd, Venus Remedies Ltd, VL E-Governance & IT Solutions Ltd, and VLS Finance Ltd
- Securities moving out are being included in other surveillance frameworks: LT-ASM (Magellanic Cloud Ltd), ESM (Regal Entertainment & Consultants Ltd, Venus Remedies Ltd), or exiting surveillance
- No securities moving to higher or lower stages within ST-ASM framework
- Consolidated list shows securities across multiple stages (I through VII) with varying ASM levels
Regulatory Changes
The ST-ASM framework applies enhanced surveillance measures to securities exhibiting unusual price movements or volatility. Securities in this framework are subject to:
- Short term surveillance periods (5/15/30 days)
- Staged approach with progressive restrictions
- Special monitoring for SME scrips and T+0 securities
- Potential migration to other surveillance frameworks (LT-ASM, ESM, GSM, Trade for Trade, Pledge Framework)
Compliance Requirements
- Market participants must note the securities under ST-ASM surveillance
- Trading members should implement appropriate risk management for securities in ST-ASM framework
- Investors should be aware of enhanced surveillance status when trading affected securities
- Special attention required for SME scrips marked with @ symbol
- Compliance with stage-specific restrictions as applicable
Important Dates
- Effective Date: December 01, 2025 - All changes to ST-ASM framework become applicable
- Circular Date: November 28, 2025
Impact Assessment
Market Impact: High - The ST-ASM framework directly impacts trading liquidity and investor participation in affected securities. Addition of 6 securities (including 3 SME scrips) will subject them to enhanced surveillance and potential trading restrictions.
Investor Impact: Investors holding or trading securities moving into ST-ASM must be prepared for increased monitoring, potential price bands, and reduced liquidity. The framework aims to protect investors from excessive volatility.
Operational Impact: Trading members need to update their systems to reflect the surveillance status changes. Securities moving out to other frameworks (ESM, LT-ASM) will be subject to different restriction mechanisms.
Migration Significance: The movement of securities to LT-ASM or ESM frameworks indicates continued surveillance concerns, while those exiting without migration may indicate improved stability metrics.
Additional Information
Securities Added to ST-ASM (Stage I)
- Best Agrolife Ltd (539660, INE052T01013) - Also listed per NSE
- Gilada Finance & Investments Ltd (538788, INE918C01029)
- Halder Venture Ltd (539854, INE115S01010)
- JD Cables Ltd (544524, INE14VP01014) - SME Scrip
- Srigee Dlm Ltd (544399, INE0RJ901010) - SME Scrip
- Supertech Ev Ltd (544428, INE0SC101013) - SME Scrip
Securities Exiting ST-ASM
- Moving to LT-ASM: Magellanic Cloud Ltd
- Moving to ESM: Regal Entertainment & Consultants Ltd, Venus Remedies Ltd
- Exiting Surveillance: Garnet International Ltd, Parmeshwar Metal Ltd (SME), Universal Cables Ltd, VL E-Governance & IT Solutions Ltd, VLS Finance Ltd
Impact Justification
ST-ASM framework significantly impacts trading in affected securities with enhanced surveillance measures. Changes affect 14 securities with 6 new additions and 8 removals, directly impacting investor trading strategies and liquidity.