Description

BSE circular regarding securities moving into and out of the Long Term Additional Surveillance Measure (LT-ASM) framework effective December 11, 2025.

Summary

BSE has issued a circular regarding changes to the Long Term Additional Surveillance Measure (LT-ASM) framework effective December 11, 2025. Three securities are being newly shortlisted into the LT-ASM framework, while one security is moving out. The circular provides consolidated lists of all securities under various ASM stages.

Key Points

  • 3 securities newly shortlisted in Long Term ASM Framework: Mish Designs Ltd (544015), Pan Electronics India Ltd (517397), and Seshachal Technologies Ltd (531794)
  • 1 security moving out of LT-ASM: Maruti Interior Products Ltd (543464)
  • No securities moving to higher or lower ASM stages within the framework
  • No securities shortlisted directly into Stage IV LT-ASM
  • Changes effective from December 11, 2025
  • Consolidated list includes 15+ securities across different ASM stages (I to IV)

Regulatory Changes

The Long Term ASM framework is a surveillance mechanism designed to alert investors about securities that have witnessed unusual price movements or abnormal trading patterns over an extended period. Securities under this framework face additional trading restrictions and surveillance measures.

Compliance Requirements

  • Market participants must note the inclusion of new securities in LT-ASM framework
  • Trading members should inform clients about the surveillance status of affected securities
  • Enhanced due diligence required for transactions in LT-ASM securities
  • Compliance with applicable price bands and trading restrictions for listed securities

Important Dates

  • Effective Date: December 11, 2025 - Changes to LT-ASM framework become applicable

Impact Assessment

Securities Added to LT-ASM (3 stocks):

  • Mish Designs Ltd, Pan Electronics India Ltd, and Seshachal Technologies Ltd will face enhanced surveillance measures
  • Investors should exercise additional caution when trading these securities
  • May experience reduced liquidity due to surveillance framework restrictions

Securities Removed from LT-ASM (1 stock):

  • Maruti Interior Products Ltd is exiting the LT-ASM framework, potentially due to inclusion in other frameworks (Trade for Trade, GSM, ESM, or IBC)
  • Trading restrictions specific to LT-ASM will no longer apply

Market Impact: Limited impact as only 4 securities affected; however, investors in these specific stocks should be aware of changed surveillance status and associated trading implications.

Impact Justification

Affects specific securities under surveillance framework with trading restrictions, limited to 4 securities being added/removed