Description

BSE announces changes to securities under Long Term ASM Framework effective December 01, 2025, including new additions, stage movements, and exits from the framework.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective December 01, 2025. The circular details four categories of changes: 4 securities being newly shortlisted for LT-ASM, 3 securities moving to higher ASM stages, 3 securities moving to lower ASM stages, and 12 securities exiting the LT-ASM framework. These measures are designed to monitor and regulate securities that exhibit unusual price movements or trading patterns.

Key Points

  • 4 securities newly shortlisted in Long Term ASM Framework
  • 3 securities moving to higher ASM stages (Stage II)
  • 3 securities moving to lower ASM stages (Stages I and II)
  • 12 securities exiting the LT-ASM Framework
  • All changes effective from December 01, 2025
  • Some securities exiting due to inclusion in other frameworks (Trade for Trade, GSM, ESM, IBC)

Regulatory Changes

Part A - New Securities in LT-ASM:

  1. Bandaram Pharma Packtech Ltd (524602)
  2. Dev Labtech Venture Ltd (543848)
  3. Magellanic Cloud Ltd (538891)
  4. Sera Investments & Finance India Ltd (512399)

Part B - Securities Moving to Higher ASM Stages:

  1. Arigato Universe Ltd (530267) - Moving to Stage II
  2. Captain Technocast Ltd (540652) - Moving to Stage II
  3. Flexituff Ventures International Ltd (533638) - Moving to Stage II

Part C - Securities Moving to Lower ASM Stages:

  1. Arihant Foundations & Housing Ltd (531381) - Moving to Stage I
  2. Ironwood Education Ltd (508918) - Moving to Stage II
  3. Priya Ltd (524580) - Moving to Stage I

Part D - Direct Stage IV: No securities shortlisted for Direct Stage IV

Compliance Requirements

  • Market participants must adjust trading practices for affected securities according to LT-ASM framework requirements
  • Securities in LT-ASM framework are subject to additional surveillance measures including possible trading restrictions
  • Higher ASM stages typically involve stricter surveillance parameters
  • Brokers and traders must ensure compliance with framework-specific margin requirements and price bands

Important Dates

  • Effective Date: December 01, 2025 - All changes to LT-ASM framework become applicable

Impact Assessment

Market Impact: The LT-ASM framework affects liquidity and trading dynamics for the 22 securities listed. Securities entering or remaining in the framework face enhanced scrutiny, which may impact investor sentiment and trading volumes. The movement of securities to higher stages indicates continued concerns about their trading patterns, while moves to lower stages suggest improvement.

Operational Impact: Investors and traders in these securities should expect potential restrictions such as reduced position limits, higher margins, or trading only in specific sessions. The exit of 12 securities provides relief to market participants in those stocks, though some are transitioning to other restrictive frameworks (Trade for Trade, GSM, ESM, IBC), which may impose different constraints.

Investor Considerations: Securities under LT-ASM framework are flagged for unusual price movements or volatility. Investors should exercise caution and conduct thorough due diligence before trading in these securities.

Impact Justification

Affects trading conditions for 22 securities through LT-ASM framework changes, with varying levels of surveillance measures applied based on market behavior