Description
BSE announces changes to Long Term ASM Framework effective December 19, 2025, including 9 new securities entering LT-ASM, 1 security moving out, and 1 security moving to higher stage.
Summary
BSE has announced changes to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective December 19, 2025. The circular identifies securities entering and exiting the LT-ASM framework, as well as securities moving between different ASM stages. Nine securities are being newly shortlisted under LT-ASM, one security (Purple Finance Ltd) is moving to a higher Stage II ASM, one security (NACL Industries Ltd) is entering direct Stage IV, and one security (Agri-Tech India Ltd) is moving out of the framework.
Key Points
- 9 new securities shortlisted in Long Term ASM Framework effective December 19, 2025
- Purple Finance Ltd moving from current stage to Stage II ASM while continuing in LT-ASM
- NACL Industries Ltd entering directly into Stage IV LT-ASM Framework
- Agri-Tech (India) Ltd moving out of Long Term ASM Framework
- No securities moving to lower ASM stages
- Consolidated list includes securities across ASM Stages I, II, and IV
- Framework includes provisions for T+0 scrips and non-promoter holding considerations
Regulatory Changes
The Long Term ASM Framework applies enhanced surveillance measures to securities that meet specific criteria related to price volatility, trading patterns, or other risk factors. Securities in LT-ASM are subject to additional trading restrictions and monitoring requirements.
Part A - New Entries (9 Securities):
- Ashram Online.Com Ltd (526187)
- Lotus Eye Hospital And Institute Ltd (532998)
- Patidar Buildcon Ltd (524031)
- Perfect-Octave Media Projects Ltd (521062)
- Polymac Thermoformers Ltd (537573)
- Samor Reality Ltd (543376)
- Tirth Plastic Ltd (526675)
- Transpact Enterprises Ltd (542765)
- Workmates Core2Cloud Solution Ltd (544610)
Part B - Stage升级:
- Purple Finance Ltd (544191) moving to ASM Stage II
Part D - Direct Stage IV Entry:
- NACL Industries Ltd (524709) entering directly at ASM Stage IV
Part C: No securities moving to lower stages
Compliance Requirements
- Trading members must ensure compliance with LT-ASM framework restrictions for affected securities
- Enhanced price bands and position limits may apply to securities in LT-ASM
- Investors should be aware of additional surveillance measures and potential trading restrictions
- Securities in higher ASM stages (II, IV) face more stringent surveillance measures
- Market participants must monitor the consolidated list for their trading activities
Important Dates
- Effective Date: December 19, 2025 - All changes to LT-ASM framework become applicable
Impact Assessment
Market Impact: Medium - The changes affect 11 securities with varying levels of surveillance. Securities entering LT-ASM may experience reduced liquidity and increased volatility as traders adjust to the new framework.
Trading Impact: Securities in LT-ASM typically face:
- Reduced price bands
- Increased margin requirements
- Additional disclosure requirements
- Potential limitations on derivative trading
Investor Impact: Investors holding these securities should be aware of enhanced surveillance measures. Stage IV classification (NACL Industries) represents the highest level of surveillance under this framework, indicating significant concerns requiring close monitoring.
Positive Development: Agri-Tech (India) Ltd exiting the framework indicates improved compliance or trading patterns, which is favorable for that security.
The circular provides transparency on surveillance measures and helps market participants make informed decisions regarding securities under enhanced monitoring.
Impact Justification
Affects 11 securities through various LT-ASM stage changes, impacting trading conditions for these stocks but represents routine surveillance framework adjustments