Description
BSE announces changes to Short Term Additional Surveillance Measure (ST-ASM) framework with 17 securities being added, 9 securities moving out, effective December 31, 2025.
Summary
BSE has announced updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective December 31, 2025. The circular identifies securities being added to and removed from the ST-ASM framework, which imposes additional surveillance measures on securities exhibiting abnormal price movements or volatility.
Key Points
- 17 securities are being added to the Short Term 5/15/30 Days ASM Framework
- 9 securities are moving out of the ST-ASM Framework
- No securities are moving to higher or lower stage ASM within the framework
- The framework includes regular equity securities, SME scrips, and T+0 scrips
- Some securities moving out are transitioning to other frameworks (LT-ASM, Trade for Trade, GSM, Pledge, or ESM)
- Changes apply to both NSE and BSE listed securities where marked
Securities Added to ST-ASM (Effective December 31, 2025)
- Bonlon Industries Ltd (543211)
- Cubex Tubings Ltd (526027)
- Dr Lalchandani Labs Ltd (541299) - SME
- Hind Aluminium Industries Ltd (531979)
- Hindustan Copper Ltd (513599, 113599)
- Kinetic Trust Ltd (531274)
- Landmarc Leisure Corporation Ltd (532275)
- Luxury Time Ltd (544635) - SME
- Medico Intercontinental Ltd (539938)
- MMTC Ltd (513377, 113377)
- Prodocs Solutions Ltd (544643) - SME
- Shree Metalloys Ltd (531962)
- Uniroyal Marine Exports Ltd (526113)
- Vision Cinemas Ltd (526441)
- Western Overseas Study Abroad Ltd (544636) - SME
Securities Removed from ST-ASM (Effective December 31, 2025)
- Bhatia Colour Chem Ltd (543497) - SME
- DJ Mediaprint & Logistics Ltd (543193)
- Exato Technologies Ltd (544626) - SME
- K&R Rail Engineering Ltd (514360) - Moving to LT-ASM
- Laddu Gopal Online Services Ltd (537707)
- LGB Forge Ltd (533007)
- Mayur Leather Products Ltd (531680)
- OK Play India Ltd (526415)
- Walchandnagar Industries Ltd (507410)
Regulatory Changes
The ST-ASM framework is designed to alert investors about securities with abnormal price movements and increased volatility. Securities under this framework face additional surveillance measures including:
- Enhanced monitoring of price and volume movements
- Potential additional margin requirements
- Increased scrutiny of trading patterns
- Investor awareness alerts
Compliance Requirements
- Trading members must ensure compliance with applicable margin requirements for securities in ST-ASM
- Investors should be aware of the additional surveillance status when trading these securities
- Market participants must comply with any additional disclosure or reporting requirements
- Brokers should inform clients about the surveillance status of these securities
Important Dates
- Effective Date: December 31, 2025 - All changes to ST-ASM framework become applicable
Impact Assessment
The inclusion of securities in ST-ASM framework typically results in:
- Trading Impact: Potential reduction in liquidity due to higher margins and surveillance measures
- Investor Awareness: Heightened caution among investors regarding these securities
- Price Discovery: Enhanced monitoring may lead to more stable price discovery
- Risk Management: Better risk mitigation for unusual price volatility
Securities moving out of ST-ASM may experience improved liquidity, though those transitioning to other frameworks (LT-ASM, GSM, ESM) will continue to face surveillance measures. The single security moving to LT-ASM (K&R Rail Engineering) will be subject to longer-term surveillance protocols.
Impact Justification
Affects trading conditions for 17 securities entering ST-ASM framework and 9 securities exiting, impacting liquidity and trading costs for these stocks