Description

BSE circular regarding securities being added to, continuing in, or moving out of the Long Term Additional Surveillance Measure (LT-ASM) framework effective January 06, 2026.

Summary

BSE has issued an update on securities under the Long Term Additional Surveillance Measure (LT-ASM) framework effective January 06, 2026. Panther Industrial Products Ltd (Scrip Code: 524055) has been newly shortlisted for inclusion in the LT-ASM framework. Two securities - Vision Cinemas Ltd and ANS Industries Ltd - are being moved out of the framework due to their inclusion in ESM and GSM frameworks respectively. No securities are being moved to higher or lower ASM stages. The circular includes a consolidated list of 16+ securities currently under various ASM stages.

Key Points

  • Panther Industrial Products Ltd (Scrip Code: 524055, ISIN: INE181D01014) newly shortlisted in Long Term ASM Framework
  • Vision Cinemas Ltd (Scrip Code: 526441) moving out of LT-ASM due to inclusion in ESM Framework
  • ANS Industries Ltd (Scrip Code: 531406) moving out of LT-ASM due to inclusion in GSM Framework
  • No securities moving to higher or lower ASM stages within the framework
  • No securities shortlisted for direct Stage IV placement
  • Consolidated list includes securities in ASM Stages I, II, and IV
  • Framework changes take effect from market opening on January 06, 2026

Regulatory Changes

The Long Term ASM framework continues to operate as a surveillance mechanism for securities that meet specific criteria related to price movements, volatility, or other market concerns. Securities under this framework are subject to additional trading restrictions and surveillance measures to protect investor interests. The framework operates in multiple stages (I through IV) with varying degrees of restrictions.

Compliance Requirements

  • Market participants should note the inclusion of Panther Industrial Products Ltd in LT-ASM framework
  • Trading members must be aware of the surveillance status changes for Vision Cinemas Ltd and ANS Industries Ltd
  • Securities under LT-ASM framework are subject to specific trading conditions including enhanced margin requirements and other restrictions
  • Investors should exercise caution when trading securities listed under ASM framework
  • Brokers and trading members must comply with the surveillance measures applicable to these securities

Important Dates

  • Effective Date: January 06, 2026 - All changes to LT-ASM framework take effect from this date

Impact Assessment

Market Impact: Limited to specific securities and their investors. The addition of one security and removal of two securities indicates targeted surveillance action rather than broad market concerns.

Investor Impact: High for shareholders of affected companies. Panther Industrial Products Ltd investors will face enhanced surveillance measures including potential higher margins and trading restrictions. Investors in Vision Cinemas Ltd and ANS Industries Ltd will see these companies transition to ESM and GSM frameworks respectively, which may have different surveillance implications.

Trading Impact: Securities under LT-ASM framework typically experience reduced liquidity due to enhanced margin requirements and additional compliance obligations. Traders and investors should be aware that these securities require special attention and may not be suitable for all investment strategies.

Operational Impact: Trading members and brokers need to update their systems and risk management frameworks to reflect the surveillance status changes effective January 06, 2026.

Impact Justification

Affects trading conditions for specific securities under surveillance framework. One new security added to LT-ASM, two securities moved out. Limited market-wide impact but significant for affected companies and their investors.