Description
BSE circular on securities moving into, within, and out of the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 29, 2025.
Summary
BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 29, 2025. The circular identifies 9 new securities entering the ST-ASM framework, 15 securities exiting the framework (moving to other surveillance categories or normal trading), and provides a consolidated list of securities under ST-ASM. The ST-ASM framework is designed to monitor securities with unusual price movements or trading patterns over short periods (5/15/30 days).
Key Points
- 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
- No securities moving to higher or lower ASM stages within the ST-ASM framework
- 15 securities moving out of ST-ASM Framework
- 1 security (Amines & Plasticizers Limited) in consolidated list at Stage I
- Changes effective from December 29, 2025
- Some securities marked with special designations (SME, T+0, NSE-aligned)
Regulatory Changes
Securities entering ST-ASM will be subject to additional surveillance measures including potential restrictions on trading, higher margins, or trade-for-trade segments. The framework operates in stages with progressively stricter measures.
Securities exiting ST-ASM are transitioning to:
- Long Term ASM Framework (LT-ASM): 1 security
- Trade for Trade Framework: 4 securities
- Normal trading status: 10 securities
Compliance Requirements
- Trading members must ensure compliance with ST-ASM framework requirements for affected securities
- Increased margin requirements may apply to securities under ST-ASM
- Investors should note potential trading restrictions on shortlisted securities
- Risk management systems must account for securities under surveillance
Important Dates
- Effective Date: December 29, 2025 - All changes to ST-ASM applicability take effect
Securities Details
Entering ST-ASM Framework (9 securities):
- Ceinsys Tech Ltd (538734)
- Enterprise International Ltd (526574)
- Global Capital Markets Ltd (530263)
- Modi Rubber Ltd (500890)
- My Money Securities Ltd (538862)
- POCL Enterprises Ltd (539195)
- Quantum Digital Vision India Ltd (530281)
- Sasken Technologies Ltd (532663)
- Vivid Mercantile Ltd (542046)
Exiting ST-ASM Framework (15 securities):
- Asahi Songwon Colors Ltd (532853)
- Bemco Hydraulics Ltd (522650)
- Chemkart India Ltd (544442) - SME
- Colinz Laboratories Ltd (531210)
- Dolphin Offshore Enterprises (India) Ltd (522261)
- KJMC Corporate Advisors (India) Ltd (532304)
- Omni AXs Software Ltd (532340) - Moving to Trade for Trade
- Relicab Cable Manufacturing Ltd (539760) - Moving to Trade for Trade
- Shree Rama Multi-Tech Ltd (532310)
- Swagtam Trading & Services Ltd (539406) - Moving to Trade for Trade
- Sylph Industries Limited (511447)
- Tainwala Chemicals and Plastics (India) Ltd (507785)
- Teamo Productions HQ Ltd (533048) - Moving to LT-ASM
- Tilak Ventures Ltd (503663)
- Valson Industries Ltd (530459) - Moving to Trade for Trade
Impact Assessment
For Securities Entering ST-ASM: Investors holding these 9 securities will face enhanced surveillance measures, potentially including reduced liquidity, higher trading margins, and increased volatility monitoring. This may impact trading volumes and price discovery.
For Securities Exiting ST-ASM: The 15 securities moving out represent a mixed impact - 4 securities moving to stricter Trade for Trade framework will continue facing restrictions, while 10 returning to normal trading should see improved liquidity and reduced trading costs.
Market Impact: Limited broader market impact as affected securities represent small-cap and mid-cap stocks with relatively lower trading volumes. Primarily affects specific stock holders and traders in these securities.
Impact Justification
Surveillance measure affecting 25 securities with trading restrictions. Significant for investors in affected stocks but limited broader market impact.