Description

BSE announces securities shortlisted for Short Term ASM Framework effective December 08, 2025, including 4 new additions and 5 securities moving out of the framework.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) Framework effective December 08, 2025. Four securities have been newly shortlisted under the 5/15/30 Days ASM Framework, while five securities are moving out of the framework due to inclusion in other surveillance or trading mechanisms. The circular provides a consolidated list of 17 securities currently under ST-ASM with their respective stage classifications.

Key Points

  • 4 new securities added to Short Term 5/15/30 Days ASM Framework effective December 08, 2025
  • 5 securities moving out of ST-ASM Framework due to inclusion in other frameworks (LT-ASM or Trade for Trade)
  • No securities moving to higher or lower stage ASM at this time
  • Consolidated list contains 17 securities under ST-ASM surveillance
  • Framework includes both main board and SME scrips
  • Securities marked with special indicators for SME scrips (@) and T+0 scrips (~)

Newly Added Securities (Annexure I - Part A)

Securities shortlisted in Short Term 5/15/30 Days ASM Framework:

  1. Aadi Industries Ltd (Scrip Code: 530027, ISIN: INE563D01013)
  2. Laddu Gopal Online Services Ltd (Scrip Code: 537707, ISIN: INE546I01025)
  3. Mayur Leather Products Ltd (Scrip Code: 531680, ISIN: INE799E01011)
  4. Shyam Century Ferrous Ltd* (Scrip Code: 539252, ISIN: INE979R01011)

*As per NSE

Securities Moving Out (Annexure II - Part A)

Securities exiting Short Term 5/15/30 ASM Framework:

  1. Bampsl Securities Ltd** (Scrip Code: 531591, ISIN: INE802A01037) - Moving to Trade for Trade
  2. Bigbloc Construction Ltd (Scrip Code: 540061, ISIN: INE412U01025)
  3. Classic Leasing & Finance Ltd** (Scrip Code: 540481, ISIN: INE949C01016) - Moving to Trade for Trade
  4. Dhillon Freight Carrier Ltd@ (Scrip Code: 544556, ISIN: INE0SPJ01011) - SME scrip
  5. Solvex Edibles Ltd@** (Scrip Code: 544539, ISIN: INE1IIQ01028) - SME scrip moving to Trade for Trade

Consolidated List Highlights (Annexure III)

Total Securities Under ST-ASM: 17

Notable securities in consolidated list:

  • Most securities at Stage I
  • Eraaya Lifespaces Ltd at Stage II
  • Mangalam Drugs & Organics Ltd* at Stage II
  • Mix of main board and SME securities (@)
  • Includes securities under various stage classifications

Regulatory Framework

The ST-ASM Framework applies additional surveillance measures based on:

  • Price movements and volatility patterns
  • Trading volumes and concentration
  • 5/15/30 day monitoring periods
  • Progressive stage-wise restrictions

Securities can move between frameworks:

  • LT-ASM (Long Term Additional Surveillance Measure)
  • Trade for Trade segment
  • GSM (Graded Surveillance Measure)
  • ESM (Enhanced Surveillance Measure)
  • Pledge Framework

Important Dates

  • Circular Date: December 05, 2025
  • Effective Date: December 08, 2025
  • All changes to ST-ASM applicability take effect from market opening on December 08, 2025

Compliance Requirements

  • Securities under ST-ASM are subject to additional margin requirements
  • Trading restrictions may apply based on stage classification
  • Market participants must ensure compliance with enhanced surveillance norms
  • Investors should be aware of liquidity constraints on affected securities
  • Brokers must implement appropriate risk management controls

Impact Assessment

Market Impact: Medium - Affects 9 securities (4 additions, 5 removals) with changes in trading conditions

Liquidity Impact: Securities entering ST-ASM may face reduced liquidity due to higher margins and surveillance measures. Securities exiting to Trade for Trade will face complete restriction on intraday trading.

Investor Impact: Investors holding or trading these securities need to be aware of enhanced margin requirements and potential trading restrictions. Securities in higher stages face more stringent controls.

Operational Impact: Market participants must update risk management systems and surveillance parameters for affected securities effective December 08, 2025.

Impact Justification

Affects trading conditions for specific securities under surveillance framework, impacting liquidity and trading requirements for listed companies