Description

BSE announces changes to the Short Term Additional Surveillance Measure (ST-ASM) framework, adding 9 securities and removing 5 securities effective December 15, 2025.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 15, 2025. Nine securities are being added to the ST-ASM framework, one security (Eraaya Lifespaces Ltd) will be moved to a lower Stage ASM while continuing in the framework, and five securities are being removed from the framework due to inclusion in other surveillance measures.

Key Points

  • 9 new securities added to Short Term 5/15/30 Days ASM Framework
  • 2 of the newly added securities are SME scrips (Chandra Bhagat Pharma Ltd and Goel Food Products Ltd)
  • 1 security (Eraaya Lifespaces Ltd) continues in ST-ASM but moves to lower Stage ASM
  • 5 securities exiting ST-ASM framework due to inclusion in other surveillance measures
  • No securities moving to higher Stage ASM from ST-ASM framework
  • Changes effective from December 15, 2025

Securities Added to ST-ASM (Effective December 15, 2025)

  1. ANS Industries Ltd (531406, INE234J01018)
  2. Chandra Bhagat Pharma Ltd (542934, INE07QQ01016) - SME
  3. Goel Food Products Ltd (543538, INE0K6L01010) - SME
  4. Jhaveri Credits & Capital Ltd (531550, INE865D01012)
  5. KSR FOOTWEAR LIMITED (544615, INE1SPP01016)
  6. Pankaj Polymers Ltd (531280, INE698B01011)
  7. SC Agrotech Ltd (526081, INE895E01017)
  8. Scintilla Commercial & Credit Ltd (538857, INE892C01018)
  9. Suratwwala Business Group Ltd (543218, INE05ST01028)

Securities Moving to Lower Stage ASM

  • Eraaya Lifespaces Ltd (531035, INE432F01032) - continues in ST-ASM framework but at lower stage

Securities Exiting ST-ASM Framework

  1. Ecoboard Industries Ltd (523732, INE866A01016) - moving to LT-ASM Framework
  2. Kapil Raj Finance Ltd (539679, INE332Q01023)
  3. Mini Diamonds India Ltd (523373, INE281E01028)
  4. Rapid Multimodal logistics Ltd (544237, INE0QA901010) - moving to ESM Framework
  5. Shyam Century Ferrous Ltd (539252, INE979R01011) - moving to Trade for Trade Framework

Regulatory Changes

The Short Term ASM framework is designed to alert investors about securities experiencing abnormal price movements or trading patterns over short periods (5/15/30 days). Securities under this framework face additional surveillance measures to ensure market integrity.

Compliance Requirements

  • Trading members must be aware of the updated ST-ASM list
  • Securities in ST-ASM framework are subject to enhanced surveillance and may have different trading conditions
  • Investors should exercise additional caution when trading securities under ST-ASM

Important Dates

  • December 15, 2025: Effective date for all changes to ST-ASM framework

Impact Assessment

The inclusion of securities in ST-ASM framework typically results in:

  • Increased scrutiny of price and volume movements
  • Potential impact on liquidity as some investors may avoid securities under surveillance
  • Enhanced monitoring by exchange to detect and prevent market manipulation
  • Securities exiting ST-ASM for other frameworks (LT-ASM, ESM, Trade for Trade) may face different trading restrictions based on their new classification

Impact Justification

Affects trading conditions for 14 securities through inclusion or exclusion from ST-ASM framework, impacting liquidity and trading behavior for these stocks