Description

BSE announces changes to securities under Short Term ASM framework effective December 23, 2025, including new additions, movements between stages, and securities moving out of the framework.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 23, 2025. The circular details securities being newly added to the framework, securities moving between different ASM stages, and securities exiting the ST-ASM framework due to inclusion in other surveillance mechanisms.

Key Points

  • 5 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • 1 security (SC Agrotech Ltd) moving to higher Stage ASM while continuing in ST-ASM
  • 9 securities moving out of ST-ASM Framework
  • Several SME scrips included in the changes
  • Securities exiting ST-ASM are moving to other frameworks including LT-ASM, ESM, and other surveillance measures

Securities Newly Added to ST-ASM (Effective December 23, 2025)

  1. Dynavision Ltd (Scrip Code: 517238, ISIN: INE083E01010)
  2. Logiciel Solutions Ltd@ (Scrip Code: 544625, ISIN: INE1BA901016) - SME
  3. NDA Securities Ltd (Scrip Code: 511535, ISIN: INE026C01013)
  4. Pulsar International Ltd (Scrip Code: 512591, ISIN: INE183U01022)
  5. Takyon Networks Ltd@ (Scrip Code: 544471, ISIN: INE14OX01013) - SME

Securities Moving to Higher Stage ASM

  • SC Agrotech Ltd (Scrip Code: 526081, ISIN: INE895E01017)

Securities Moving Out of ST-ASM Framework

  1. ANS Industries Ltd (531406) - No specific framework mentioned
  2. Eraaya Lifespaces Ltd (531035) - No specific framework mentioned
  3. Goel Food Products Ltd@ (543538) - SME
  4. JD Cables Ltd@ (544524) - SME
  5. Jhaveri Credits & Capital Ltd (531550) - No specific framework mentioned
  6. Onix Solar Energy Ltd* (513119) - Moving to LT-ASM Framework
  7. Shanti Educational Initiatives Ltd (539921) - No specific framework mentioned
  8. Suratwwala Business Group Ltd (543218) - No specific framework mentioned
  9. TCI Finance Ltd$ (501242) - Moving to ESM Framework

Regulatory Framework Details

Legend for Security Markings:

  • @ = SME Scrips
  • ~ = T+0 Scrips (shortlisted as per parent company)
    • = Moving to LT-ASM Framework
  • ** = Moving to Trade for Trade Framework

  • = Moving to GSM Framework

  • ^ = Moving to Pledge Framework
  • $ = Moving to ESM Framework

Compliance Requirements

  • Trading members must note the revised surveillance status of affected securities
  • Enhanced surveillance measures will apply to newly added securities from December 23, 2025
  • Securities moving to higher stages will face stricter surveillance parameters
  • Different trading conditions may apply based on the specific ASM stage

Important Dates

  • Effective Date: December 23, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: Medium - The surveillance measures affect 15 securities with varying levels of restrictions. Securities under ST-ASM typically face additional monitoring and may have trading restrictions.

Operational Impact: Trading members need to update their systems and client communications regarding the changed surveillance status of these securities. Investors holding these stocks should be aware of potential liquidity impacts and stricter monitoring conditions.

SME Impact: Multiple SME securities are affected, which may experience heightened scrutiny and potential trading limitations under the surveillance framework.

Impact Justification

Surveillance measures affect trading conditions for multiple securities but impact is limited to specific stocks under review