Description

BSE announces securities being placed under Long Term Additional Surveillance Measure framework effective December 10, 2025, including new additions and stage movements.

Summary

BSE has issued a circular regarding the applicability of Long Term Additional Surveillance Measure (LT-ASM) framework effective December 10, 2025. Four new securities are being added to the LT-ASM framework, and one security (Sri Adhikari Brothers Television Network Ltd) is being placed directly in Stage IV of the framework. No securities are moving out of the framework or changing stages (higher/lower) during this update.

Key Points

  • 4 securities newly shortlisted in Long Term ASM Framework: Aayush Wellness Ltd, Delphi World Money Ltd, Gujarat Credit Corporation Ltd, and Maruti Interior Products Ltd
  • Sri Adhikari Brothers Television Network Ltd placed directly in Stage IV under LT-ASM Framework (as per NSE alignment)
  • No securities moving to higher or lower ASM stages in this update
  • No securities exiting the LT-ASM Framework
  • Consolidated list includes 13+ securities currently under various ASM stages
  • Effective date: December 10, 2025

Regulatory Changes

The Long Term ASM Framework is designed to alert investors about securities displaying abnormal price movements or other concerns requiring enhanced surveillance. Securities under this framework are subject to specific trading restrictions and disclosure requirements to ensure investor protection and market integrity.

Compliance Requirements

  • Trading members must ensure compliance with LT-ASM framework requirements for affected securities
  • Enhanced disclosure and client awareness obligations for securities under surveillance
  • Special margin and settlement requirements may apply to LT-ASM securities
  • Investors trading in these securities must be made aware of the surveillance status

Important Dates

  • Effective Date: December 10, 2025 - New LT-ASM classifications take effect

Impact Assessment

Market Impact: The addition of four securities to LT-ASM framework and direct Stage IV placement of one security indicates heightened regulatory scrutiny. This typically results in reduced trading volumes and liquidity for affected stocks.

Investor Impact: Investors holding or trading these securities will face additional restrictions, higher margins, and increased compliance requirements. The surveillance designation serves as a caution signal for potential volatility or irregularities.

Operational Impact: Brokers and trading members need to update their systems to reflect the new surveillance classifications and ensure appropriate client disclosures are made for transactions in these securities.

Impact Justification

Affects specific securities with enhanced surveillance measures. Limited to a small set of stocks but involves trading restrictions and investor awareness requirements.