Description
BSE circular regarding securities being added to, moved within, or removed from the Short Term ASM framework effective December 18, 2025.
Summary
BSE has issued updated lists of securities subject to Short Term Additional Surveillance Measure (ST-ASM) framework effective December 18, 2025. The circular identifies 12 securities being newly added to ST-ASM Stage I, 7 securities moving out of the framework (some due to inclusion in other surveillance frameworks like LT-ASM), and provides a consolidated list of all securities currently under ST-ASM.
Key Points
- 12 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework Stage I
- 7 securities moving out of ST-ASM Framework
- 3 securities moving out due to inclusion in LT-ASM Framework (Coromandel Engineering, Deccan Bearings, and one other marked with *)
- 3 SME scrips included in the changes (Chemkart India, Supertech Ev, Transvoy Logistics)
- No securities moving to higher or lower stages within ST-ASM framework
- Changes effective from December 18, 2025
- Consolidated list provided showing all securities under ST-ASM with their respective stages
Regulatory Changes
The ST-ASM framework applies enhanced surveillance measures including stricter price bands, margin requirements, and trading restrictions to securities exhibiting abnormal price movements or unusual trading patterns. Securities can progress through multiple stages (I, II, III) with increasing restrictions.
Compliance Requirements
- Trading members must ensure compliance with ST-ASM framework requirements for affected securities
- Enhanced margin and price band restrictions apply to securities under ST-ASM
- Investors should be aware of increased surveillance and potential trading limitations
- Securities marked with special symbols (*, @, ~) have additional conditions or are transitioning to other frameworks
Important Dates
- December 18, 2025: Effective date for all ST-ASM framework changes
Impact Assessment
Securities Being Added (12):
- Asahi Songwon Colors Ltd*
- Bemco Hydraulics Ltd
- Chemkart India Ltd@ (SME)
- Colinz Laboratories Ltd
- Dolphin Offshore Enterprises (India) Ltd*
- KJMC Corporate Advisors (India) Ltd
- Optimus Finance Ltd
- Perfect-Octave Media Projects Ltd
- Shree Rama Multi-Tech Ltd*
- Sylph Technologies Ltd
- Tainwala Chemicals and Plastics (India) Ltd*
- Tilak Ventures Ltd
Securities Moving Out (7):
- Coromandel Engineering Company Ltd* (to LT-ASM)
- Deccan Bearings Ltd* (to LT-ASM)
- Kaynes Technology India Ltd (including T+0 variant)
- RR MetalMakers India Ltd
- Supertech Ev Ltd@ (SME)
- Transvoy Logistics India Ltd@ (SME)
Market Impact: Securities entering ST-ASM will face reduced liquidity, higher transaction costs due to increased margins, and stricter price bands. Securities exiting ST-ASM may see improved liquidity, though those moving to LT-ASM face continued restrictions. The inclusion of multiple small-cap and SME stocks suggests heightened volatility concerns in these segments.
Impact Justification
Affects trading conditions for 19 securities through ST-ASM framework additions and removals, impacting liquidity and trading flexibility for these stocks.