Description

BSE announces securities being added to, moved within, and removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 30, 2025.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 30, 2025. The circular identifies 12 securities being newly shortlisted for ST-ASM, 1 security moving to a higher stage within the framework, and 7 securities moving out of the framework. ST-ASM is applied to securities exhibiting abnormal price movements or other concerns requiring enhanced surveillance.

Key Points

  • 12 securities newly shortlisted for Short Term 5/15/30 Days ASM Framework
  • Includes A2Z Infra Engineering Ltd, Baroda Extrusion Ltd, K&R Rail Engineering Ltd, KNR Constructions Ltd, Omaxe Ltd, Rail Vikas Nigam Limited, and others
  • Spice Islands Industries Ltd continues in ST-ASM but moves to higher stage
  • 7 securities moving out of ST-ASM framework including Amines & Plasticizers Ltd, Soma Papers & Industries Ltd
  • Some securities moving out due to inclusion in other surveillance frameworks (LT-ASM, ESM, GSM)
  • Framework includes SME scrips and T+0 scrips marked with special symbols

Regulatory Changes

The Short Term ASM framework imposes additional surveillance measures on securities showing unusual price or volume movements. Securities in this framework face:

  • Enhanced monitoring of trading activity
  • Potential restrictions on intraday trading
  • Graduated stages (Stage I, II, etc.) with increasing surveillance intensity
  • Movement between stages based on continued price behavior

Compliance Requirements

  • Market participants must be aware of ST-ASM applicability for affected securities
  • Trading members should inform clients about securities under enhanced surveillance
  • Additional margin requirements and trading restrictions may apply to ST-ASM securities
  • Investors should exercise caution when trading in ST-ASM listed securities

Important Dates

  • December 30, 2025: Effective date for all ST-ASM framework changes
  • Securities will be subject to new surveillance measures from market opening on this date

Impact Assessment

Market Impact: The inclusion of 12 securities in ST-ASM framework will result in enhanced surveillance and potentially reduced liquidity for these stocks. Traders may face higher margins and restrictions on intraday positions.

Investor Impact: Investors holding or trading these securities should expect increased volatility monitoring and potential trading limitations. The measure is designed to protect investors from excessive speculation and abnormal price movements.

Operational Impact: Brokers and trading members must update their systems to reflect the new surveillance classifications and ensure compliance with applicable margin and trading restrictions for affected securities.

Impact Justification

Affects trading in 12 securities newly added to ST-ASM framework with enhanced surveillance measures, impacting liquidity and trading parameters for these stocks