Description

BSE announces changes to Short Term Additional Surveillance Measure (ST-ASM) framework with securities being added, moved between stages, and removed from surveillance effective December 19, 2025.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 19, 2025. The circular identifies securities being newly added to ST-ASM Stage I, securities moving out of the framework, and provides a consolidated list of all securities currently under ST-ASM surveillance with their respective stages.

Key Points

  • 10 securities shortlisted for inclusion in Short Term 5/15/30 Days ASM Framework at Stage I
  • 8 securities moving out of ST-ASM Framework (some transitioning to LT-ASM or other frameworks)
  • No securities moving to higher or lower ASM stages within ST-ASM framework
  • Framework includes both main board and SME scrips
  • Some securities marked with special notations indicating NSE alignment or SME/T+0 status
  • Changes effective from December 19, 2025

Securities Added to ST-ASM (Stage I)

  1. Amines & Plasticizers Limited (506248)
  2. Ampvolts Ltd (535719)
  3. K K SILK MILLS LIMITED (544624) - SME
  4. Meesho Limited (544632)
  5. MOTHER NUTRI FOODS LIMITED (544623) - SME
  6. PMC Fincorp Ltd (534060)
  7. Ranjit Securities Ltd (531572)
  8. Sanrhea Technical Textiles Ltd (514280)
  9. Spice Islands Industries Ltd (526827)
  10. Valson Industries Ltd (530459)

Securities Moving Out of ST-ASM

  1. Dalmia Industrial Development Ltd (539900)
  2. Epsom Properties Ltd (531155)
  3. Mangalam Drugs & Organics Ltd (532637)
  4. Perfect-Octave Media Projects Ltd (521062) - moved to LT-ASM
  5. Samor Reality Ltd (543376) - moved to LT-ASM
  6. SRU Steels Ltd (540914)
  7. Swagtam Trading & Services Ltd (539406)
  8. Tirth Plastic Ltd (526675) - moved to LT-ASM

Regulatory Framework

The Short Term ASM framework is a surveillance mechanism implemented by BSE to monitor securities showing abnormal price movements or unusual trading patterns over short time periods (5/15/30 days). Securities under this framework may face:

  • Enhanced surveillance and monitoring
  • Potential trading restrictions
  • Staged approach (Stage I being the initial level)
  • Possible escalation to Long Term ASM or other restrictive frameworks

Important Dates

  • Effective Date: December 19, 2025
  • Circular Date: December 18, 2025

Impact Assessment

Market Impact: Medium - The ST-ASM framework affects liquidity and trading in specified securities. Investors holding or trading these securities should be aware of enhanced surveillance measures.

Investor Impact: Securities under ST-ASM may experience reduced trading volumes and increased scrutiny. Some securities transitioning to LT-ASM face more stringent long-term surveillance.

Compliance Impact: Trading members and market participants must ensure compliance with ASM framework requirements for affected securities, including potential margin requirements and position limits.

Impact Justification

Routine surveillance measure updates affecting specific securities with restrictions on trading. Impact limited to listed securities and their investors.