Description
BSE updates the list of securities under Short Term Additional Surveillance Measure (ST-ASM) framework effective January 02, 2026, including new additions, stage changes, and exits.
Summary
BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 02, 2026. The circular identifies securities being newly added to the ST-ASM framework (5/15/30 days), securities moving between different ASM stages, and securities exiting the framework due to inclusion in other surveillance measures.
Key Points
- 9 securities newly shortlisted under ST-ASM framework (5/15/30 days)
- 1 security (V B Industries Ltd) continues in ST-ASM but moves to higher stage
- 1 security (Spright Agro Ltd) continues in ST-ASM but moves to lower stage
- 9 securities exiting ST-ASM framework due to inclusion in other frameworks (LT-ASM, ESM)
- Changes effective from January 02, 2026
- Multiple SME scrips included in the surveillance measures
Regulatory Changes
New Additions to ST-ASM Framework:
- Dolphin Offshore Enterprises (India) Ltd (522261)
- Filatex Fashions Ltd (532022)
- Jupiter Infomedia Ltd (534623)
- Navkar Urbanstructure Ltd (531494)
- NRB Industrial Bearings Ltd (535458)
- Ravelcare Ltd (544629) - SME scrip
- Shree Rama Multi-Tech Ltd (532310)
- Silver Touch Technologies Ltd (543525)
- Varyaa Creations Ltd (544168) - SME scrip
Stage Upgrades:
- V B Industries Ltd (539123) - Moving to higher stage ASM
Stage Downgrades:
- Spright Agro Ltd (531205) - Moving to lower stage ASM
Securities Exiting ST-ASM:
- 3 securities moving to LT-ASM Framework (Kinetic Trust Ltd, Medico Intercontinental Ltd, Vision Cinemas Ltd)
- 2 securities moving to ESM Framework (Eraaya Lifespaces Ltd, Hind Aluminium Industries Ltd)
- 4 other securities exiting framework (Anupam Finserv Ltd, D & H India Ltd, Munoth Communication Ltd, Niraj Cement Structurals Ltd)
Compliance Requirements
- Market participants must be aware of securities under ST-ASM framework for trading purposes
- Securities in ST-ASM framework are subject to additional surveillance measures including price bands, quantity limits, and margin requirements
- Traders should note the stage-wise surveillance applicable to each security
- SME scrips marked with @ symbol require special attention
- T+0 scrips marked with ~ symbol are shortlisted based on parent company criteria
Important Dates
- Effective Date: January 02, 2026 - All changes to ST-ASM framework come into effect
- Circular Date: January 01, 2026
Impact Assessment
Market Impact:
- Securities added to ST-ASM framework will face enhanced surveillance including potential price bands, trade-to-trade settlement, and higher margins
- Reduced liquidity expected for newly added securities due to trading restrictions
- Investors holding these securities should expect increased volatility monitoring and transaction costs
Operational Impact:
- Brokers and trading members need to update their systems to reflect new ASM classifications
- Risk management systems must be adjusted for margin requirements on affected securities
- Clients trading in these securities need to be informed of surveillance measures
Investor Impact:
- Higher margins required for trading securities under ST-ASM framework
- Potential limitations on intraday trading depending on ASM stage
- Exit from ST-ASM for 9 securities may restore normal trading conditions, though some move to other restrictive frameworks
Impact Justification
Affects trading conditions for multiple securities through ASM framework changes, impacting liquidity and trading costs for investors in these stocks