Description

BSE announces addition of 2 securities (Supertech Ev Ltd and Supra Trends Ltd) to Enhanced Surveillance Measure (ESM) framework effective December 18, 2025.

Summary

BSE has issued an update to the Enhanced Surveillance Measure (ESM) framework effective December 18, 2025. Two securities have been newly shortlisted for inclusion in the ESM framework: Supertech Ev Ltd (Scrip Code: 544428) and Supra Trends Ltd (Scrip Code: 511539). No securities are being moved to higher or lower ESM stages, and no securities are exiting the ESM framework. The circular also provides a consolidated list of all securities currently under ESM surveillance across different stages.

Key Points

  • 2 new securities added to ESM framework: Supertech Ev Ltd (SME scrip) and Supra Trends Ltd
  • No securities moved to higher ESM stages
  • No securities moved to lower ESM stages
  • No securities removed from ESM framework
  • Consolidated list shows 30+ securities under ESM surveillance across Stage I and Stage II
  • Changes effective from December 18, 2025

Regulatory Changes

The Enhanced Surveillance Measure (ESM) framework is designed to alert investors about securities that exhibit abnormal price movements or other concerning trading patterns. Securities under ESM are subject to additional surveillance and may have trading restrictions such as:

  • Trade-for-trade settlement (no intraday trading)
  • 100% upfront margin requirements
  • Additional disclosure requirements
  • Price bands and circuit filters

The addition of new securities to ESM indicates heightened regulatory scrutiny due to volatility, price manipulation concerns, or other surveillance triggers.

Securities Added to ESM (Effective December 18, 2025)

New Additions

  1. Supertech Ev Ltd (Scrip Code: 544428, ISIN: INE0SC101013) - SME Scrip
  2. Supra Trends Ltd (Scrip Code: 511539, ISIN: INE533B01028)

Consolidated ESM List Highlights

The circular provides a consolidated list of securities under ESM surveillance, including (partial list):

Stage I ESM:

  • AAA Technologies Ltd
  • ABM Knowledgeware Ltd
  • Abram Food Ltd (SME)
  • Adcon Capital Services Ltd
  • Adinath Textiles Ltd
  • Ador Multiproducts Ltd
  • Alps Industries Ltd
  • Amit Securities Ltd
  • And 20+ additional securities

Stage II ESM:

  • Alan Scott Enterprises Ltd
  • Ambitious Plastomac Company Ltd
  • Anirit Ventures Ltd
  • Arunis Abode Ltd
  • Arunjyoti Bio Ventures Ltd

Compliance Requirements

For Investors

  • Exercise increased caution when trading securities under ESM
  • Understand that ESM securities may have trade-for-trade settlement (no intraday squaring off)
  • Be prepared for 100% upfront margin requirements
  • Conduct thorough due diligence before investing in ESM securities

For Trading Members

  • Implement appropriate risk management controls for ESM securities
  • Ensure clients are aware of ESM status and associated restrictions
  • Collect full upfront margins as required
  • Monitor positions in ESM securities closely

For Listed Companies

  • Companies whose securities are under ESM should ensure timely and adequate disclosures
  • Address any concerns that may have triggered ESM inclusion
  • Work towards compliance to potentially exit ESM framework

Important Dates

  • Circular Date: December 17, 2025
  • Effective Date: December 18, 2025

Impact Assessment

Market Impact

  • Low to Medium - Only 2 securities newly added to ESM, indicating limited market-wide impact
  • Investors holding these securities will face trading restrictions starting December 18, 2025
  • Liquidity in affected securities may decrease due to trade-for-trade settlement requirements

Operational Impact

  • Trading members must update their systems to implement ESM restrictions for the 2 newly added securities
  • Risk management systems need to be configured for higher margin requirements
  • Client notification processes must be activated for investors holding these securities

Investor Impact

  • Medium for holders of Supertech Ev Ltd and Supra Trends Ltd
  • Existing positions will be subject to enhanced surveillance and trading restrictions
  • New investors must provide full upfront margins
  • Potential negative sentiment impact on stock prices

Regulatory Significance

  • Demonstrates ongoing market surveillance and regulatory vigilance
  • Stable ESM landscape with no escalations or de-escalations this period
  • Serves as warning indicator for market participants about securities under scrutiny

Impact Justification

Addition of 2 securities to ESM framework affects trading conditions for these stocks. No securities moved to higher/lower stages or exited ESM, indicating stable surveillance landscape.