Description

BSE announces inclusion of 6 securities in ST-ASM framework, movement of 1 security to higher stage, and removal of 11 securities from ST-ASM effective December 24, 2025.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 24, 2025. Six securities are being newly included in the 5/15/30 Days ASM Framework, one security will move to a higher stage while remaining in ST-ASM, and eleven securities are moving out of the framework. The consolidated list shows securities across various ST-ASM stages.

Key Points

  • 6 securities shortlisted for inclusion in Short Term 5/15/30 Days ASM Framework
  • 1 security (Padam Cotton Yarns Ltd) will continue in ST-ASM but move to higher stage
  • 11 securities moving out of ST-ASM Framework
  • Changes effective from December 24, 2025
  • Framework includes both mainboard and SME scrips (marked with @)
  • Some securities moving out due to inclusion in other frameworks (LT-ASM, Trade for Trade, GSM, Pledge, ESM)

Securities Newly Included in ST-ASM

  1. Anupam Finserv Ltd (530109)
  2. Astron Multigrain Ltd@ (544628) - SME scrip
  3. D & H India Ltd (517514)
  4. Munoth Communication Ltd (511401)
  5. Niraj Cement Structurals Ltd* (532986)
  6. V B Industries Ltd (539123)

Securities Moving to Higher Stage

  • Padam Cotton Yarns Ltd (531395) - continues in ST-ASM but moves to higher stage

Securities Moving Out of ST-ASM

  1. Aerpace Industries Ltd* (534733) - moving to LT-ASM Framework
  2. Fermenta Biotech Ltd (506414)
  3. Global Longlife Hospital and Research Ltd@ (543520)
  4. Prashant India Ltd (519014)
  5. Rico Auto Industries Ltd (520008)
  6. S & T Corporation Ltd (514197)
  7. S&S Power Switchgear Ltd (517273)
  8. Safecure Services Ltd@ (544596)
  9. Taylormade Renewables Ltd (541228)
  10. Uniroyal Marine Exports Ltd (526113)
  11. VLS Finance Ltd (511333)

Regulatory Changes

The ST-ASM framework is designed to identify securities with abnormal price movements and applies additional surveillance measures including price bands and margin requirements. Securities can move between stages or transition to other surveillance frameworks (LT-ASM, Trade for Trade, GSM, Pledge Framework, ESM) based on continued surveillance criteria.

Compliance Requirements

  • Trading members must be aware of securities under ST-ASM framework
  • Enhanced margins and surveillance applicable to listed securities
  • Investors should note restricted trading conditions for securities in ST-ASM
  • Different treatment for SME scrips (marked @) and regular scrips

Important Dates

  • Effective Date: December 24, 2025 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: Medium - Affects trading liquidity and conditions for 18 securities across mainboard and SME segments. Inclusion in ST-ASM typically results in higher margins, potential price bands, and reduced liquidity.

Investor Impact: Investors holding or trading these securities will face enhanced surveillance measures including higher margin requirements and potential trading restrictions.

Operational Impact: Brokers and trading members need to update systems and risk management frameworks to account for changed surveillance status of affected securities.

Impact Justification

Affects trading conditions for 18 securities through inclusion, movement, or removal from ST-ASM framework, impacting trading liquidity and investor behavior