Description

BSE revises price bands for 33 securities across various sectors, with bands ranging from 2% to 20%, effective from December 29, 2025.

Summary

BSE has revised price bands for 33 securities effective from December 29, 2025. The revised price bands range from 2% (most restrictive) to 20%, indicating varying levels of surveillance measures applied to these securities. The changes affect securities across multiple sectors including infrastructure, technology, finance, and manufacturing.

Key Points

  • 33 securities will have revised price bands effective December 29, 2025
  • Price band restrictions range from 2% (3 securities) to 20% (4 securities)
  • Most securities (13) have been assigned a 5% price band
  • 8 securities have a 10% price band
  • The revisions are implemented as surveillance measures
  • Trading members must implement these changes in their systems before the effective date

Regulatory Changes

No new regulatory framework introduced. This circular implements existing surveillance mechanisms through price band adjustments to control volatility and protect investor interests in specific securities.

Compliance Requirements

  • Trading members must update their trading systems to reflect the revised price bands
  • Price bands must be implemented from the start of trading on December 29, 2025
  • Orders placed outside the revised price bands will be rejected
  • Members requiring clarification should contact BSE surveillance at bse.surv@bseindia.com

Important Dates

  • Circular Date: December 26, 2025
  • Effective Date: December 29, 2025
  • Members have 3 days to update systems and inform clients

Impact Assessment

Market Impact: Medium - Tightened price bands will reduce intraday volatility in these securities but may also reduce liquidity and trading volumes. Investors in these 33 securities will face restricted price movement during trading sessions.

Operational Impact: Trading members need to update risk management systems, modify order placement logic, and communicate changes to clients trading these securities. The restrictive bands (2% and 5%) will significantly limit trading ranges for 16 securities.

Investor Impact: Investors holding or trading these securities will experience reduced ability to enter/exit positions at desired prices during volatile market conditions. The 2% band on Esha Media Research, Mercury Trade Links, and Naturo Indiabull is particularly restrictive.

Securities by Price Band Category

2% Band (Highest Restriction - 3 securities):

  • Esha Media Research Ltd (531259)
  • Mercury Trade Links Ltd (512415)
  • Naturo Indiabull Ltd (543579)

5% Band (13 securities):

  • A2Z Infra Engineering, Arunis Abode, Checkpoint Trends, Classic Filaments, CMX Holdings, Enterprise International, GSB Finance, Hindustan Appliances, Jetmall Spices, Logiciel Solutions, Lyons Corporate, Neo Infracon, Prerna Infrabuild, Ramchandra Leasing, Silver Oak India, Synthiko Foils, Transvoy Logistics, UTL Industries

10% Band (8 securities):

  • Caspian Corporate Services, Emkay Global Financial, Emmforce Autotech, Incap, Integrated Industries, Intense Technologies, KMF Builders, Neo Infracon

20% Band (4 securities):

  • Abram Food Ltd, Anlon Healthcare Ltd, Brand Concepts Ltd, Methodhub Software Ltd, United Van Der Horst Ltd

Impact Justification

Affects trading parameters for 33 securities with tightened price bands indicating increased surveillance, impacting trading flexibility and investor access to these scrips.