Description

BSE announces revised price bands for 37 scrips including KIOCL Ltd, Digispice Technologies Ltd, and others, with bands ranging from 1% to 20%, effective from December 22, 2025.

Summary

BSE has revised price bands for 37 securities effective from December 22, 2025. The price bands range from 1% to 20%, reflecting different levels of surveillance measures based on trading patterns and market conditions. Notable stocks include KIOCL Ltd (10%), Digispice Technologies Ltd (20%), Fredun Pharmaceuticals Ltd (20%), and SER Industries Ltd (1%).

Key Points

  • 37 scrips will have revised price bands effective December 22, 2025
  • Price band restrictions vary: 1% (1 scrip), 2% (1 scrip), 5% (18 scrips), 10% (11 scrips), 20% (6 scrips)
  • Stocks with 20% band: Deccan Gold Mines, Digispice Technologies, Fredun Pharmaceuticals, Ravelcare, Ravinder Heights
  • Most restrictive: SER Industries Ltd at 1% price band
  • Companies span multiple sectors including pharmaceuticals, technology, textiles, infrastructure, and mining
  • Members can contact bse.surv@bseindia.com for clarifications

Regulatory Changes

The price band mechanism is a surveillance measure that limits the maximum price movement (up or down) allowed in a single trading session. Tighter bands (lower percentages) indicate higher surveillance and restricted volatility, while wider bands (higher percentages) allow more price movement within regulatory oversight.

Compliance Requirements

  • Trading members must ensure their systems reflect updated price bands from December 22, 2025
  • All trades in affected scrips must comply with new band limits
  • Members should communicate changes to clients trading in these securities
  • Trading systems must reject orders outside the revised price band limits

Important Dates

  • Notice Date: December 19, 2025
  • Effective Date: December 22, 2025 (revised price bands become applicable)

Impact Assessment

Market Impact: The revised price bands will affect intraday volatility and trading patterns in 37 securities. Tighter bands (1%-5%) on 20 securities will limit price swings and potentially reduce speculative activity. Stocks like SER Industries with 1% band face severe trading restrictions, while those with 20% bands maintain relatively normal trading flexibility.

Investor Impact: Investors in these securities may experience reduced liquidity and limited ability to enter/exit positions at desired prices, particularly in scrips with tighter bands. Day traders and short-term speculators will be most affected.

Operational Impact: Brokers must update risk management systems and inform clients about trading limitations in these securities to avoid order rejections.

Impact Justification

Revised price bands affect 37 securities with varying restrictions (1%-20%), impacting trading volatility controls and investor participation in these stocks.