Description

BSE announces updates to Short Term ASM framework affecting 9 securities entering surveillance, 5 securities exiting, and 1 security moving to lower stage effective December 15, 2025.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 15, 2025. Nine securities will be newly shortlisted in the ST-ASM framework, five securities will exit the framework (moving to other surveillance mechanisms), and one security will move to a lower ASM stage while continuing in the framework.

Key Points

  • 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework (including 2 SME scrips)
  • 5 securities moving out of ST-ASM Framework due to inclusion in other surveillance frameworks
  • 1 security (Eraaya Lifespaces Ltd) moving to lower Stage ASM while continuing in framework
  • No securities moving to higher Stage ASM
  • Consolidated list includes 11+ securities currently under ST-ASM Stage I surveillance
  • Changes effective from December 15, 2025

Securities Entering ST-ASM Framework

Newly Shortlisted (9 securities):

  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)

*As per NSE

Securities Exiting ST-ASM Framework

Moving Out (5 securities):

  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

Stage Movements

Moving to Lower Stage:

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

Moving to Higher Stage:

  • Nil

Regulatory Framework

The ST-ASM framework is part of BSE’s surveillance mechanism to monitor securities showing abnormal price movements or volatility. Securities under this framework face enhanced monitoring and may have trading restrictions including:

  • Periodic call auctions
  • Additional margin requirements
  • Trade-to-trade settlement
  • Price bands and quantity limits

Important Dates

  • Effective Date: December 15, 2025
  • All changes to ST-ASM framework applicability take effect from this date

Impact Assessment

Trading Impact:

  • Securities entering ST-ASM will face enhanced surveillance measures affecting liquidity
  • Investors in affected securities should expect potential restrictions on intraday trading
  • Higher margin requirements may apply
  • Securities exiting ST-ASM move to other frameworks (LT-ASM, ESM, T2T) with different restrictions

Market Participants:

  • Traders and investors holding positions in affected securities should review their strategies
  • SME segment investors should note that 2 SME scrips are newly entering surveillance
  • Brokers need to update systems to reflect new margin and trading requirements

Consolidated List: The circular provides a consolidated list showing Stage I ASM securities including AK Capital Services, Amkay Products, Brijlaxmi Leasing, Capital Trust, Dalmia Industrial Development, Eldeco Housing, Epsom Properties, and others, indicating ongoing surveillance across multiple securities.

Impact Justification

Affects trading conditions for 15 securities with enhanced surveillance measures impacting liquidity and trading accessibility for investors in these stocks.