Description

BSE updates the list of securities subject to Short Term Additional Surveillance Measure framework, including new inclusions, movements between stages, and exclusions effective January 06, 2026.

Summary

BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 06, 2026. The circular identifies 8 securities being newly shortlisted for ST-ASM Stage I, 8 securities moving out of the framework, and provides a consolidated list of all securities currently under ST-ASM across different stages. No securities are moving between higher or lower ASM stages in this update.

Key Points

  • 8 new securities shortlisted in Short Term 5/15/30 Days ASM Framework effective January 06, 2026
  • New inclusions: Baba Arts Ltd, Mangalam Drugs & Organics Ltd, RDB Infrastructure And Power Ltd, Royal Cushion Vinyl Products Ltd, Sita Enterprises Ltd, Sovereign Diamonds Ltd, Super Bakers India Ltd, Vivimed Labs Ltd
  • 8 securities moving out of ST-ASM Framework: Ceinsys Tech Ltd, Global Capital Markets Ltd, Modi Rubber Ltd, My Money Securities Ltd, POCL Enterprises Ltd, Quantum Digital Vision India Ltd, Sasken Technologies Ltd, Vivid Mercantile Ltd
  • No securities moving to higher or lower ASM stages in this update
  • Consolidated list includes securities across different ST-ASM stages (I, II, III, etc.)
  • Framework applies to both mainboard and SME scrips
  • T+0 scrips may be shortlisted based on parent company criteria

Regulatory Changes

The ST-ASM framework is a surveillance mechanism that applies additional restrictions on securities exhibiting abnormal price movements or other concerns. Securities under ST-ASM are subject to:

  • Enhanced disclosure requirements
  • Trading in separate surveillance segment
  • Potential price bands and quantity restrictions
  • Progressive tightening of measures across stages (I, II, III)

Securities may exit ST-ASM if they are included in other frameworks such as LT-ASM, Trade for Trade, GSM, Pledge Framework, or ESM.

Compliance Requirements

  • Market participants must note the revised list of securities under ST-ASM framework
  • Trading members should ensure compliance with applicable restrictions for securities in ST-ASM
  • Investors should be aware that securities under ST-ASM may have limited liquidity and higher trading costs
  • Surveillance measures apply across all ASM stages with increasing stringency

Important Dates

  • Effective Date: January 06, 2026 - All changes to ST-ASM framework become effective
  • Circular Date: January 05, 2026

Impact Assessment

Market Impact: Securities newly included in ST-ASM framework will face reduced liquidity and increased scrutiny. The 8 securities moving out will see relaxation of surveillance restrictions, potentially improving trading volumes.

Investor Impact: Investors holding securities in ST-ASM should expect lower liquidity, wider bid-ask spreads, and potential difficulty in executing large orders. The framework serves as a warning signal for heightened risk.

Operational Impact: Trading members must update their systems to reflect the new ST-ASM list and ensure appropriate risk controls are in place for affected securities.

Impact Justification

ST-ASM framework imposes significant trading restrictions on listed securities due to price volatility or other surveillance concerns, directly affecting trading liquidity and investor access for multiple securities.