Description

BSE circular listing securities entering, exiting, and moving between stages in the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 08, 2026.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 08, 2026. The circular identifies 9 securities newly shortlisted for ST-ASM framework, 1 security moving to higher stage ASM, and 11 securities exiting the ST-ASM framework. The ST-ASM framework imposes enhanced surveillance on securities exhibiting abnormal price movements or trading patterns over short periods (5/15/30 days).

Key Points

  • 9 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
  • 1 security (Western Overseas Study Abroad Limited) moving to higher Stage ASM while continuing in ST-ASM
  • 11 securities moving out of ST-ASM Framework
  • Several securities exiting ST-ASM due to inclusion in other surveillance frameworks (LT-ASM, GSM, etc.)
  • Framework includes both mainboard and SME scrips
  • Some T+0 scrips shortlisted based on parent company

Regulatory Changes

Effective January 08, 2026, the following changes apply:

Securities Entering ST-ASM (Stage I):

  1. Aryan Share and Stock Brokers Ltd (542176)
  2. Flora Corporation Ltd (540267)
  3. Godavari Drugs Ltd (530317)
  4. Mirc Electronics Ltd (500279)
  5. Neptune Logitek Ltd (544663) - SME
  6. Orient Technologies Ltd (544235)
  7. Prime Fresh Ltd (540404)
  8. Shankara Building Products Ltd (540425)
  9. Sofcom Systems Ltd (538923)

Securities Moving to Higher Stage:

  • Western Overseas Study Abroad Limited (544636) - SME

Securities Exiting ST-ASM:

  • Chartered Logistics Ltd, Cubex Tubings Ltd, Dr Lalchandani Labs Ltd, Hindustan Copper Ltd (both codes), Landmarc Leisure Corporation Ltd, MMTC Ltd (both codes), Prodocs Solutions Ltd, Silver Touch Technologies Ltd, SMC Global Securities Ltd

Compliance Requirements

  • Securities under ST-ASM are subject to enhanced surveillance measures including potential trading restrictions
  • Market participants must be aware of the surveillance status when trading these securities
  • Different stages of ASM may have varying levels of restrictions (price bands, margin requirements, etc.)
  • SME scrips and T+0 scrips have specific notations and may follow parent company surveillance status

Important Dates

  • Effective Date: January 08, 2026 - All changes to ST-ASM framework become applicable
  • Circular Date: January 07, 2026

Impact Assessment

Market Impact: Securities entering ST-ASM framework will face enhanced surveillance which typically includes stricter price bands, higher margin requirements, and potentially reduced liquidity. This may result in lower trading volumes and increased volatility for affected scrips.

Investor Impact: Investors holding securities newly included in ST-ASM should expect:

  • Potential liquidity constraints
  • Higher transaction costs due to increased margins
  • Limited intraday trading flexibility
  • Possible migration to stricter surveillance stages if abnormal patterns persist

Positive Impact: Securities exiting ST-ASM framework will see relaxation of surveillance measures, potentially improving liquidity and reducing trading costs. However, some are moving to other surveillance frameworks (LT-ASM, GSM, ESM) which may have different restrictions.

Operational Impact: Brokers and trading members must update their systems to reflect the new surveillance categorization and apply appropriate margin and trading controls for affected securities.

Impact Justification

Affects trading conditions for specific securities under surveillance. Material impact on listed companies and their investors, but limited to identified scrips. Routine surveillance measure implementation.