Description

BSE announces securities being added to, removed from, and continuing in the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 07, 2026.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 07, 2026. Nine securities are being newly shortlisted into the ST-ASM framework, one security (Spice Islands Industries Ltd) will move to a lower stage within the framework, and eight securities are being removed from the ST-ASM framework. The circular provides consolidated lists of all securities currently under ST-ASM with their respective stages.

Key Points

  • 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • 1 security moved to lower Stage ASM (Spice Islands Industries Ltd)
  • 8 securities moving out of ST-ASM Framework
  • No securities moving to higher Stage ASM
  • Changes effective from January 07, 2026
  • Framework includes special markings for SME scrips (@) and T+0 scrips (~)
  • Consolidated list shows securities across different ST-ASM stages (I, II, etc.)

Regulatory Changes

The ST-ASM framework continues to operate with 5/15/30 days surveillance periods. Securities can be categorized into different stages based on surveillance criteria. The framework provides for:

  • Movement between stages (higher or lower) based on trading patterns
  • Exit from ST-ASM due to inclusion in other frameworks (LT-ASM, Trade for Trade, GSM, Pledge, ESM)
  • Special treatment for SME and T+0 securities

Compliance Requirements

For Market Participants:

  • Review trading strategies for securities entering ST-ASM framework
  • Note enhanced surveillance measures applicable to shortlisted securities
  • Comply with any additional margin or trading requirements under ST-ASM
  • Monitor securities for stage changes within the framework

For Listed Companies:

  • Be aware of surveillance classification status
  • Ensure timely disclosures to avoid surveillance measures

Important Dates

  • Effective Date: January 07, 2026 - ST-ASM changes take effect

Impact Assessment

Market Impact:

  • Securities entering ST-ASM may experience reduced liquidity due to enhanced surveillance
  • Investors may face additional trading restrictions or margin requirements
  • Securities exiting ST-ASM framework will return to normal trading conditions

Operational Impact:

  • Traders need to adjust positions and strategies for affected securities
  • Risk management systems should be updated to reflect new ST-ASM classifications
  • Brokers must communicate changes to clients holding or trading these securities

Investor Impact:

  • Increased scrutiny on 9 newly added securities may indicate volatility concerns
  • 8 securities exiting framework suggests improved trading stability
  • Movement to lower stage for Spice Islands Industries indicates positive trend

Impact Justification

Affects trading conditions for 17 securities through ST-ASM framework changes, impacting investor trading strategies and liquidity for these stocks