Description
BSE updates the list of securities under Long Term ASM framework with additions, stage changes, and removals effective December 15, 2025.
Summary
BSE has updated the Long Term Additional Surveillance Measure (LT-ASM) framework effective December 15, 2025. The circular identifies securities being newly added to LT-ASM, those moving between different ASM stages, and those exiting the framework entirely. One new security (Ecoboard Industries Ltd) is being added to LT-ASM, five securities are moving to lower ASM stages, and 30 securities are being removed from the LT-ASM framework.
Key Points
- Ecoboard Industries Ltd (Scrip Code: 523732, ISIN: INE866A01016) newly added to Long Term ASM Framework
- Five securities moving to lower ASM stages: Captain Technocast Ltd (to Stage I), Flexituff Ventures International Ltd (to Stage I), Ironwood Education Ltd (to Stage I), Novelix Pharmaceuticals Ltd (to Stage I), and NACL Industries Ltd (to Stage III)
- No securities moving to higher ASM stages
- No securities directly placed in Stage IV LT-ASM
- 30 securities being removed from Long Term ASM Framework including CarTrade Tech Ltd, Gabriel India Ltd, Bilcare Ltd, and Nectar Lifesciences Ltd
- All changes effective from December 15, 2025
Regulatory Changes
The Long Term ASM framework is a surveillance mechanism designed to alert investors about securities that have exhibited unusual price movements or volatility patterns over an extended period. Securities under LT-ASM face additional trading restrictions and disclosures to protect investor interests.
Compliance Requirements
- Trading members must ensure compliance with ASM framework requirements for affected securities
- Investors trading in securities under LT-ASM must adhere to applicable restrictions including trade-for-trade settlement, price bands, and margin requirements
- Market participants should note the specific ASM stage applicable to each security as different stages have varying levels of surveillance measures
Important Dates
- Effective Date: December 15, 2025 - All ASM framework changes become applicable
Impact Assessment
Securities Added to LT-ASM: Ecoboard Industries Ltd will face enhanced surveillance measures, which may impact liquidity and trading activity.
Securities Moving to Lower Stages: The five securities moving to lower ASM stages (Captain Technocast, Flexituff Ventures, Ironwood Education, Novelix Pharmaceuticals, and NACL Industries) will experience reduced surveillance restrictions, potentially improving liquidity.
Securities Exiting LT-ASM: The 30 securities being removed from the framework will no longer face LT-ASM related trading restrictions, which should normalize trading conditions and potentially improve market participation in these stocks.
Annexure Details
Part A - New Additions
- Ecoboard Industries Ltd (523732, INE866A01016)
Part C - Moving to Lower ASM Stages
- Captain Technocast Ltd (540652, INE931X01010) - Moving to Stage I
- Flexituff Ventures International Ltd (533638, INE060J01017) - Moving to Stage I
- Ironwood Education Ltd (508918, INE791H01011) - Moving to Stage I
- Novelix Pharmaceuticals Ltd (536565, INE314I01036) - Moving to Stage I
- NACL Industries Ltd (524709, INE295D01020) - Moving to Stage III
Annexure II - Exiting LT-ASM Framework (30 Securities)
Notable securities include: Aadi Industries Ltd, Alps Industries Ltd, Arihant Foundations & Housing Ltd, Astron Paper & Board Mill Ltd, Axita Cotton Ltd, Bilcare Ltd, CarTrade Tech Ltd, Cemantic Infra-Tech Ltd, Credent Global Finance Ltd, Cressanda Railway Solutions Ltd, Daikaffil Chemicals India Ltd, Disha Resources Ltd, Fruition Venture Ltd, Gabriel India Ltd, Gallops Enterprise Ltd, Halder Venture Ltd, India Home Loan Ltd, Inflame Appliances Ltd, Kamadgiri Fashion Ltd, Krishna Ventures Ltd, Lexoraa Industries Ltd, Mobavenue AI Tech Ltd, Multipurpose Trading & Agencies Ltd, Nakoda Group of Industries Ltd, Nectar Lifesciences Ltd, Newtrac Foods & Beverages Ltd, Ortin Global Ltd, Rajeshwari Cans Ltd, Sayaji Industries Ltd, and Scarnose International Ltd.
Impact Justification
Affects trading conditions for 36 securities through ASM framework changes, with moderate impact on investors and market participants in these stocks.