Description

BSE announces list of securities entering, exiting, and continuing in Short Term ASM framework with stage changes effective January 01, 2026.

Summary

BSE has released the updated list of securities subject to Short Term Additional Surveillance Measure (ST-ASM) framework effective January 01, 2026. The circular identifies 9 securities newly entering the ST-ASM framework, 1 security moving to higher stage ASM, and 4 securities exiting the framework. The ST-ASM framework applies 5/15/30 days staged surveillance measures to securities exhibiting unusual price movements or volatility.

Key Points

  • 9 securities shortlisted for ST-ASM framework from January 01, 2026
  • Includes 2 SME scrips (Riddhi Display Equipments Ltd, Waa Solar Ltd)
  • 4 securities aligned with NSE surveillance measures
  • Pulsar International Ltd continues in ST-ASM but moves to higher stage
  • 4 securities moving out of ST-ASM framework
  • Shree Metalloys Ltd exits ST-ASM due to inclusion in ESM Framework
  • Consolidated list includes 14+ securities across various ST-ASM stages

Securities Entering ST-ASM Framework

New Entries (Stage I):

  • Anka India Ltd (INE067C01025)
  • Eraaya Lifespaces Ltd (INE432F01032)
  • Maha Rashtra Apex Corporation Ltd (INE843B01013)*
  • Rain Industries Ltd (INE855B01025)*
  • Rajnish Wellness Ltd (INE685Z01033)
  • Riddhi Display Equipments Ltd (INE1DKT01011)@ - SME scrip
  • Sattva Sukun Lifecare Ltd (INE280E01038)
  • Sukhjit Starch & Chemicals Ltd (INE450E01029)*
  • Waa Solar Ltd (INE799N01012)@ - SME scrip

*As per NSE alignment

Securities Exiting ST-ASM Framework

  • Dynavision Ltd (INE083E01010)
  • NDA Securities Ltd (INE026C01013)
  • Shree Metalloys Ltd (INE914B01012)$ - Moving to ESM Framework
  • Takyon Networks Ltd (INE14OX01013)

Stage Changes

Moving to Higher Stage:

  • Pulsar International Ltd (INE183U01022) - Continues in ST-ASM with elevated stage

Moving to Lower Stage:

  • Nil

Regulatory Framework

The Short Term ASM framework operates on a 5/15/30 days surveillance mechanism with multiple stages (I, II, III, etc.) based on severity of price movements or volatility patterns. Securities in ST-ASM may face additional trading restrictions including price bands, additional margin requirements, or reduced trading frequency.

Important Dates

  • Effective Date: January 01, 2026
  • All changes to ST-ASM classification become applicable from market opening on this date

Impact Assessment

Trading Impact:

  • Securities entering ST-ASM will face enhanced surveillance and potential trading restrictions
  • Reduced liquidity expected for newly included securities
  • Higher margin requirements may apply for positions in ST-ASM securities
  • Stage escalation for Pulsar International indicates persistent volatility concerns

Market Participants:

  • Investors holding positions in newly listed ST-ASM securities should review margin requirements
  • Enhanced due diligence recommended for trading in these securities
  • Exit of 4 securities provides relief from surveillance restrictions

SME Segment:

  • 2 SME scrips included indicates heightened scrutiny in small-cap segment
  • SME investors should exercise additional caution with marked securities

Impact Justification

Affects trading conditions for multiple securities through enhanced surveillance measures, impacting liquidity and trading flexibility for specific stocks