Description
BSE updates list of securities under Short Term ASM framework effective December 10, 2025, including new additions, stage changes, and securities moving out of the framework.
Summary
BSE has issued an update on the applicability of Short Term Additional Surveillance Measure (ST-ASM) framework effective December 10, 2025. The circular identifies 7 securities newly shortlisted for ST-ASM framework, 1 security moving to a higher stage, and 2 securities moving out of the framework. The ST-ASM framework applies enhanced surveillance on securities showing unusual price movements or volatility over short periods (5/15/30 days).
Key Points
- 7 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
- 1 security (Spright Agro Ltd) moving to higher Stage ASM while continuing in ST-ASM
- 2 securities (Containerway International Ltd, Umiya Tubes Ltd) moving out of ST-ASM Framework
- Changes effective from December 10, 2025
- Consolidated list includes 16+ securities across various ST-ASM stages
- Framework includes both main board and SME scrips
- Some securities marked based on NSE classification
Newly Added Securities to ST-ASM (Stage I)
- B.C. Power Controls Ltd (Scrip Code: 537766, ISIN: INE905P01028)
- Brijlaxmi Leasing & Finance Ltd (Scrip Code: 532113, ISIN: INE957E01031)
- Kaynes Technology India Ltd* (Scrip Code: 543664, ISIN: INE918Z01012)
- Kaynes Technology India Ltd*~ (Scrip Code: 143664, ISIN: INE918Z01012) - T+0 Scrip
- Kesoram Industries Ltd* (Scrip Code: 502937, ISIN: INE087A01019)
- RR MetalMakers India Ltd (Scrip Code: 531667, ISIN: INE117K01013)
- Transvoy Logistics India Ltd@ (Scrip Code: 543754, ISIN: INE0MPU01011) - SME Scrip
*As per NSE classification
Securities Moving to Higher Stage
- Spright Agro Ltd (Scrip Code: 531205, ISIN: INE179O01031) - Moving to higher ASM stage while continuing in ST-ASM framework
Securities Moving Out of ST-ASM
- Containerway International Ltd (Scrip Code: 540597, ISIN: INE319U01022)
- Umiya Tubes Ltd (Scrip Code: 539798, ISIN: INE173U01015)
Regulatory Framework
The Short Term ASM framework is designed to:
- Monitor securities with abnormal price movements over short periods (5/15/30 days)
- Apply progressive stages of surveillance measures
- Require higher margins for trading in affected securities
- Restrict certain types of trading activities
- Securities can move between stages or frameworks based on market behavior
Compliance Requirements
- Investors trading in ST-ASM securities must maintain higher margins as prescribed
- Trading members must ensure compliance with surveillance measure requirements
- Enhanced disclosure and monitoring obligations apply to these securities
- Securities may have restricted trading or trade-for-trade settlement
Important Dates
- Effective Date: December 10, 2025
- All changes to ST-ASM applicability come into effect from this date
Impact Assessment
Trading Impact: Securities under ST-ASM face increased margins (up to 100%), reduced leverage, and potential trade-for-trade settlement, making them less attractive for short-term trading and speculation.
Investor Impact: Existing investors in these securities may face higher capital requirements and reduced liquidity. New investors should exercise caution given the surveillance measures.
Market Impact: The framework aims to curb excessive speculation and protect investor interests by cooling down overheated securities, though it may temporarily reduce trading volumes in affected stocks.
Impact Justification
Affects trading conditions for multiple securities with surveillance measures, requiring increased margins and restricted trading for investors in these stocks