Description
BSE announces price band revisions for 26 securities ranging from 2% to 20%, effective December 15, 2025, impacting trading members and market participants.
Summary
BSE has revised price bands for 26 securities with effect from December 15, 2025. The price bands range from 2% to 20%, replacing their existing levels. This measure is part of BSE’s surveillance framework to control excessive price volatility in specific securities. Trading members have been notified to implement these changes in their trading systems.
Key Points
- 26 securities will have revised price bands effective December 15, 2025
- Price bands range from 2% (most restrictive) to 20% (least restrictive)
- Empower India Ltd has the tightest band at 2%
- Six securities (Captain Technocast, Coffee Day Enterprises, Kemistar Corporation, Sangal Papers) have 20% bands
- Majority of securities (10 out of 26) assigned 5% price bands
- Six securities assigned 10% price bands
- Changes implemented as surveillance measure to curb volatility
Regulatory Changes
No new regulatory framework introduced. This circular implements existing surveillance mechanisms through price band adjustments. Price bands limit maximum daily price movement (up or down) from previous closing price, serving as circuit breakers for individual securities.
Compliance Requirements
- Trading members must update their systems to reflect new price bands by December 15, 2025
- All trades in affected securities must comply with revised price band limits
- Members requiring clarification should contact bse.surv@bseindia.com
- No orders exceeding the price band limits will be accepted
Important Dates
- Notice Date: December 12, 2025
- Effective Date: December 15, 2025
- Implementation Timeline: 3 days from notice to implementation
Impact Assessment
Market Impact: Tighter price bands will restrict intraday price movements for affected securities, potentially reducing trading volumes and liquidity. Securities with 2%-5% bands face significant trading constraints.
Operational Impact: Trading members must ensure system updates are completed before December 15, 2025. Risk management systems need recalibration for position limits and margin calculations.
Investor Impact: Investors holding or trading these securities will experience limited price discovery and reduced ability to exit positions at desired prices during volatile market conditions. The tighter bands suggest BSE has identified unusual price movements or volatility concerns in these securities.
Impact Justification
Price band changes affect trading limits for 26 securities, indicating heightened surveillance measures. Most securities face tighter bands (2%-10%), restricting price volatility and potentially impacting liquidity for affected stocks.