Description
BSE announces changes to Short Term Additional Surveillance Measure (ST-ASM) framework with 9 securities shortlisted and 2 securities moving out, effective December 16, 2025.
Summary
BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 16, 2025. Nine securities have been shortlisted for inclusion in the ST-ASM 5/15/30 Days framework, while two securities are moving out. The ST-ASM framework is designed to monitor securities exhibiting abnormal price movements or excessive volatility over short periods.
Key Points
- 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
- 2 securities moving out of ST-ASM Framework
- No securities moving to higher stage ASM
- No securities moving to lower stage ASM
- Changes effective from December 16, 2025
- Includes both mainboard and SME scrips
- One security (BRIJLAX) moving to ESM Framework
Securities Entering ST-ASM Framework
The following securities are being placed under ST-ASM Stage I:
- Fermenta Biotech Ltd (506414)
- Global Longlife Hospital and Research Ltd (543520) - SME
- Onix Solar Energy Ltd (513119)
- Prashant India Ltd (519014)
- S & T Corporation Ltd (514197)
- S&S Power Switchgear Ltd (517273)
- SMC Global Securities Ltd (543263)
- Taylormade Renewables Ltd (541228)
- Uniroyal Marine Exports Ltd (526113)
Securities Exiting ST-ASM Framework
- AK Capital Services Ltd (530499) - Moving out of ST-ASM
- Brijlaxmi Leasing & Finance Ltd (532113) - Moving to ESM (Enhanced Surveillance Measure) Framework
Regulatory Changes
The ST-ASM framework applies additional surveillance measures to securities showing unusual price movements. Securities under this framework may face:
- Additional reporting requirements
- Enhanced monitoring by exchange
- Possible trading restrictions based on stage
- Price bands or other risk mitigation measures
Compliance Requirements
- Trading Members: Must note the revised surveillance framework for affected securities
- Investors: Should be aware of enhanced surveillance status when trading these securities
- Listed Companies: Must ensure compliance with heightened disclosure requirements
- All stakeholders should review the consolidated list of 54+ securities currently under ST-ASM framework
Important Dates
- Effective Date: December 16, 2025
- Circular Date: December 15, 2025
Impact Assessment
Market Impact: Medium - The inclusion of 9 securities in ST-ASM indicates concerns about short-term price volatility or unusual trading patterns. This may result in reduced liquidity and increased trading costs for these securities.
Trading Impact: Securities under ST-ASM may experience:
- Reduced trading volumes due to additional surveillance
- Potential margin increases by brokers
- Enhanced scrutiny of large orders
- Possible impact on institutional participation
Investor Impact: Retail and institutional investors should exercise caution when trading these securities and be aware of the heightened surveillance measures in place.
Impact Justification
Affects trading framework for 9 securities entering ST-ASM and 2 exiting, indicating heightened surveillance for price volatility concerns