Description
BSE circular detailing securities entering, exiting, and moving between stages of the Short Term Additional Surveillance Measure framework effective December 26, 2025.
Summary
BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 26, 2025. The circular identifies 8 securities newly entering the ST-ASM framework, 1 security moving to a higher stage within the framework, and 21 securities exiting the ST-ASM framework. Securities under ST-ASM are subject to enhanced surveillance including trading restrictions and higher margins.
Key Points
- 8 securities shortlisted for inclusion in Short Term 5/15/30 Days ASM Framework
- 1 security (Soma Papers & Industries Ltd) moving to higher stage ASM
- 21 securities moving out of ST-ASM Framework
- Changes effective from December 26, 2025
- Some securities exiting ST-ASM are moving to other surveillance frameworks (LT-ASM, ESM, etc.)
Securities Entering ST-ASM Framework
The following 8 securities will be placed under Short Term ASM effective December 26, 2025:
- Baba Arts Ltd (532380)
- DCX Systems Ltd (543650)
- Galaxy Bearings Ltd (526073)
- Lakhotia Polyesters (India) Ltd (535387)
- Manaksia Steels Ltd (539044)
- Quadrant Future Tek Ltd (544336)
- Suditi Industries Ltd (521113)
- Teamo Productions HQ Ltd (533048)
Securities Moving to Higher Stage
- Soma Papers & Industries Ltd (516038) - Continuing in ST-ASM but moving to higher stage
Securities Exiting ST-ASM Framework
21 securities are moving out of the ST-ASM Framework, with the following reasons:
- Moving to LT-ASM Framework: Cupid Breweries And Distilleries Ltd
- Moving to ESM Framework: SC Agrotech Ltd
- Other exits: 19 additional securities including AG Ventures Ltd, Amarnath Securities Ltd, Anna Infrastructures Ltd, and others
Compliance Requirements
- Trading members must ensure compliance with ST-ASM framework requirements for affected securities
- Enhanced surveillance measures include price bands, trading restrictions, and margin requirements
- Securities marked with special symbols indicate SME scrips (@) and T+0 scrips (~)
Important Dates
- Effective Date: December 26, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact: Medium - The changes affect 29 securities with potential impact on liquidity and trading activity. Securities entering ST-ASM will face enhanced surveillance including potential circuit filters and higher margins, which may reduce speculative activity but also affect genuine trading interest.
Investor Impact: Investors holding or trading these securities should be aware of modified trading conditions, including potential restrictions on intraday trading, higher margin requirements, and ASM stage-specific price bands.
Regulatory Significance: The circular demonstrates ongoing regulatory monitoring of securities with unusual price movements or volatility, with graduated surveillance measures to protect investor interests.
Impact Justification
Impacts trading conditions for 29 securities through surveillance measure changes, affecting liquidity and trading parameters but limited to specific stocks already under regulatory scrutiny