Description

BSE circular announcing securities being added to, moved within, or removed from the Long Term Additional Surveillance Measure (LT-ASM) framework effective December 19, 2025.

Summary

BSE has issued a circular detailing changes to the Long Term Additional Surveillance Measure (LT-ASM) framework effective December 19, 2025. Nine securities are being newly added to LT-ASM, one security is moving to a higher ASM stage, one security is being placed directly in Stage IV, and one security is being removed from the framework. The LT-ASM framework is designed to alert investors about securities exhibiting unusual price movements or trading patterns over an extended period.

Key Points

  • 9 securities newly shortlisted in Long Term ASM Framework
  • 1 security (Purple Finance Ltd) moving to higher Stage II ASM
  • 1 security (NACL Industries Ltd) placed directly in Stage IV ASM
  • 1 security (Agri-Tech India Ltd) moving out of LT-ASM Framework
  • No securities moving to lower ASM stages
  • Changes effective from December 19, 2025
  • Consolidated list includes securities across ASM Stages I through IV

Regulatory Changes

The LT-ASM framework continues BSE’s surveillance mechanism to identify and monitor securities with concerning price and volume patterns. Securities under this framework face additional trading restrictions and disclosure requirements. The framework operates in multiple stages (I through IV) with progressively stringent measures.

Compliance Requirements

  • Trading members must be aware of ASM stage classifications for affected securities
  • Enhanced surveillance applies to all trades in these securities
  • Investors should exercise increased caution when trading LT-ASM securities
  • Securities marked with special indicators (*, ^, ~) have additional conditions as noted in the circular

Important Dates

  • Effective Date: December 19, 2025 - All LT-ASM changes become applicable

Impact Assessment

Trading Impact: Securities placed under LT-ASM face stricter surveillance measures which typically result in reduced liquidity and higher transaction costs. The placement of NACL Industries Ltd directly in Stage IV (the highest stage) indicates serious concerns requiring immediate stringent monitoring.

Investor Impact: Investors holding or trading these securities should be aware of increased risks and potential volatility. Stage progression indicates deteriorating market quality parameters.

Market Operations: The removal of Agri-Tech India Ltd from LT-ASM suggests improved market behavior, while new additions indicate emerging concerns in those securities.

Affected Securities

Part A - New LT-ASM Additions:

  1. Ashram Online.Com Ltd (526187)
  2. Lotus Eye Hospital And Institute Ltd (532998)
  3. Patidar Buildcon Ltd (524031)
  4. Perfect-Octave Media Projects Ltd (521062)
  5. Polymac Thermoformers Ltd (537573)
  6. Samor Reality Ltd (543376)
  7. Tirth Plastic Ltd (526675)
  8. Transpact Enterprises Ltd (542765)
  9. Workmates Core2Cloud Solution Ltd (544610)

Part B - Moving to Higher Stage:

  • Purple Finance Ltd (544191) - Moving to Stage II

Part D - Direct Stage IV Placement:

  • NACL Industries Ltd (524709) - Placed directly in Stage IV

Annexure II - Exiting LT-ASM:

  • Agri-Tech (India) Ltd (537292)

Impact Justification

LT-ASM placement significantly impacts trading conditions for affected securities with stricter surveillance measures, affecting liquidity and investor participation