Description
BSE revises price bands for 13 scrips including Ashutosh Paper Mills, Brijlaxmi Leasing, and Droneacharya Aerial Innovations, with bands ranging from 2% to 20%, effective December 10, 2025.
Summary
BSE has revised the price bands for 13 securities effective December 10, 2025. The revised bands range from 2% to 20%, significantly tighter than the standard price band limits. This surveillance measure is designed to control volatility and protect investors in these specific scrips. Trading members must ensure compliance with the new price band restrictions from the effective date.
Key Points
- 13 securities will have revised price bands effective December 10, 2025
- Price bands range from 2% (most restrictive) to 20%
- Three securities have 2% bands: Phaarmasia Ltd, Prima Industries Ltd, and Systematix Securities Ltd
- Two securities have 20% bands: Gallard Steel Ltd and Seshachal Technologies Ltd
- Notice issued by BSE Surveillance Department on December 9, 2025
- Trading members can seek clarification at bse.surv@bseindia.com
Affected Securities
| Scrip Code | Company Name | Revised Price Band |
|---|---|---|
| 531568 | Ashutosh Paper Mills Ltd | 5% |
| 532113 | Brijlaxmi Leasing & Finance Ltd | 10% |
| 539900 | Dalmia Industrial Development Ltd | 5% |
| 543713 | Droneacharya Aerial Innovations Ltd | 5% |
| 544616 | Gallard Steel Ltd | 20% |
| 544489 | LGT Business Connextions Ltd | 5% |
| 543464 | Maruti Interior Products Ltd | 10% |
| 523620 | Phaarmasia Ltd | 2% |
| 531246 | Prima Industries Ltd | 2% |
| 531667 | RR MetalMakers India Ltd | 5% |
| 531794 | Seshachal Technologies Ltd | 20% |
| 544582 | Shlokka Dyes Ltd | 5% |
| 531432 | Systematix Securities Ltd | 2% |
Regulatory Changes
This circular represents a surveillance measure under BSE’s authority to modify price bands for specific securities. Price bands are restrictions on the maximum price movement (both upward and downward) allowed for a security in a single trading session. Tighter price bands are typically imposed on securities exhibiting high volatility, low liquidity, or other risk factors requiring enhanced surveillance.
Compliance Requirements
- Trading members must implement the revised price bands in their systems before market open on December 10, 2025
- Orders exceeding the revised price band limits will be rejected
- Members must communicate these changes to their clients trading in the affected securities
- For clarifications, members should contact BSE Surveillance at bse.surv@bseindia.com
Important Dates
- Notice Date: December 9, 2025
- Effective Date: December 10, 2025
Impact Assessment
Market Impact: The tighter price bands will reduce intraday price volatility for these 13 securities, potentially improving price discovery but also reducing liquidity. Securities with 2% bands will face severe trading restrictions, limiting arbitrage and speculative activity.
Trading Impact: Investors and traders will experience reduced flexibility in these securities. Large orders may need to be executed over multiple sessions. The narrow bands may lead to more frequent circuit filter hits.
Investor Protection: These measures protect retail investors from excessive price manipulation and volatility in potentially vulnerable securities, though they also limit profit opportunities from legitimate price movements.
Operational Impact: Brokers and trading systems must update price band parameters, and trading desks need to adjust their strategies for affected securities.
Impact Justification
Price band revisions affect 13 securities with tighter trading restrictions (2%-20% bands versus normal limits), indicating surveillance measures for volatile or risky securities. Impacts liquidity and trading flexibility for affected stocks.