Description

BSE announces changes to Long Term ASM Framework effective December 11, 2025, with three securities added and one security removed from surveillance.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective December 11, 2025. Three securities are being newly shortlisted under LT-ASM, while one security (Maruti Interior Products Ltd) is moving out of the framework. No securities are being moved between ASM stages during this update.

Key Points

  • Three securities newly shortlisted in Long Term ASM Framework: Mish Designs Ltd (544015), Pan Electronics India Ltd (517397), and Seshachal Technologies Ltd (531794)
  • One security exiting LT-ASM: Maruti Interior Products Ltd (543464 / INE0JSJ01014)
  • No securities moving to higher or lower ASM stages
  • No securities shortlisted directly to Stage IV under LT-ASM Framework
  • Changes effective from December 11, 2025
  • Consolidated list includes 15+ securities across various ASM stages (I and IV)

Regulatory Changes

The circular updates the list of securities under BSE’s Long Term Additional Surveillance Measure framework. Securities under LT-ASM face enhanced surveillance and trading restrictions designed to protect investors from potential volatility and irregular trading patterns. The framework operates on a staged approach with different levels of restrictions.

Compliance Requirements

  • Market participants must be aware of the surveillance status of these securities
  • Trading in shortlisted securities will be subject to LT-ASM framework restrictions including potential trade-to-trade settlement, price bands, and position limits
  • Members must ensure compliance with surveillance measures applicable to these securities
  • Investors should note the enhanced risk associated with securities under surveillance

Important Dates

  • Effective Date: December 11, 2025 - All changes to LT-ASM framework come into effect

Impact Assessment

Market Impact: Limited - affects only four securities directly (three additions, one removal). The broader market impact is minimal as these are specific stocks under surveillance.

Trading Impact: Securities newly added to LT-ASM will face enhanced surveillance measures including potential restrictions on intraday trading, position limits, and increased margin requirements. Maruti Interior Products Ltd will have surveillance restrictions lifted.

Investor Impact: Investors holding or trading in the three newly shortlisted securities should expect reduced liquidity, stricter trading controls, and potentially higher transaction costs. Those holding Maruti Interior Products Ltd will see normal trading conditions restored.

Impact Justification

Affects trading surveillance for four specific securities with restrictions on shortlisted stocks; limited broader market impact