Description
BSE notification on securities entering, exiting, and continuing in the Short Term Additional Surveillance Measure framework effective January 01, 2026.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 01, 2026. The circular identifies 9 securities being newly shortlisted, 1 security moving to higher stage ASM, 4 securities exiting the framework, and provides a consolidated list of all securities under ST-ASM surveillance.
Key Points
- 9 securities newly shortlisted in ST-ASM framework including Anka India Ltd, Eraaya Lifespaces Ltd, Rain Industries Ltd, and Waa Solar Ltd
- 1 security (Pulsar International Ltd) continuing in ST-ASM but moving to higher stage
- 4 securities exiting ST-ASM framework: Dynavision Ltd, NDA Securities Ltd, Shree Metalloys Ltd (moving to ESM), and Takyon Networks Ltd
- Framework includes SME scrips and T+0 scrips with specific notations
- Securities categorized into different ASM stages (Stage I and higher)
- Some securities marked with asterisk are also listed on NSE
Regulatory Changes
The ST-ASM framework applies additional surveillance measures to securities exhibiting abnormal price movements or excessive speculation. Securities in this framework face:
- Enhanced margin requirements
- Stricter position limits
- Increased monitoring of trading activities
- Potential restrictions on intraday trading
Securities exit ST-ASM when they move to other surveillance frameworks including LT-ASM, Trade for Trade, GSM (Graded Surveillance Measure), Pledge Framework, or ESM (Enhanced Surveillance Measure).
Compliance Requirements
- Trading members must ensure compliance with enhanced margin requirements for securities under ST-ASM
- Brokers must inform clients about securities under surveillance measures
- Market participants should note the stage-wise ASM applicability for each security
- Special attention required for SME scrips (marked @) and T+0 scrips (marked ~) under the framework
Important Dates
- Effective Date: January 01, 2026 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact: Medium - Affects trading liquidity and costs for the listed securities. Securities entering ST-ASM typically face reduced trading volumes due to higher margins and increased trading costs.
Investor Impact: Investors holding or trading these securities will face higher margin requirements and potential restrictions on intraday positions. This may lead to reduced liquidity and wider bid-ask spreads.
Operational Impact: Trading members must update their risk management systems to reflect the new surveillance measures and ensure proper margin collection from clients trading these securities.
Annexure Details
Annexure I - Securities Entering/Continuing ST-ASM
New Securities (9 total):
- Anka India Ltd (531673)
- Eraaya Lifespaces Ltd (531035)
- Maha Rashtra Apex Corporation Ltd (523384)
- Rain Industries Ltd (500339)
- Rajnish Wellness Ltd (541601)
- Riddhi Display Equipments Ltd (544640) - SME
- Sattva Sukun Lifecare Ltd (539519)
- Sukhjit Starch & Chemicals Ltd (524542)
- Waa Solar Ltd (541445) - SME
Moving to Higher Stage: Pulsar International Ltd (512591)
Annexure II - Securities Exiting ST-ASM
- Dynavision Ltd (517238)
- NDA Securities Ltd (511535)
- Shree Metalloys Ltd (531962) - Moving to ESM Framework
- Takyon Networks Ltd (544471)
Annexure III - Consolidated List
Provides complete list of all securities currently under ST-ASM framework with their respective stage classifications (Stage I and higher stages).
Impact Justification
Affects trading conditions for multiple securities through surveillance framework changes, impacting liquidity and trading costs for these stocks.