Description

BSE circular announcing securities being added to, moved within, and removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 09, 2026.

Summary

BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 09, 2026. The circular identifies 4 new securities being added to ST-ASM Stage I, 11 securities exiting the framework (moving to other surveillance frameworks like LT-ASM, ESM, or being removed entirely), and provides a consolidated list of securities currently under ST-ASM. No securities are being moved to higher or lower stages within the framework.

Key Points

  • 4 new securities shortlisted in Short Term 5/15/30 Days ASM Framework (Stage I)
  • 11 securities moving out of ST-ASM Framework (various reasons including migration to LT-ASM, ESM, or T2T)
  • No securities moving to higher or lower stages within ST-ASM
  • Consolidated list includes 11+ securities continuing under ST-ASM Stage I
  • Changes effective from January 09, 2026

Securities Added to ST-ASM (Stage I)

New Entries (Annexure I - Part A)

  1. G N A Axles Ltd (Scrip Code: 540124, ISIN: INE934S01014)*
  2. Gajanan Securities Services Ltd (Scrip Code: 538609, ISIN: INE868G01019)
  3. Lasa Supergenerics Ltd (Scrip Code: 540702, ISIN: INE670X01014)*
  4. Sangam Finserv Ltd (Scrip Code: 538714, ISIN: INE475D01010)

*As per NSE

Securities Exiting ST-ASM Framework

Moving Out (Annexure II - Part A)

  1. Anka India Ltd (531673, INE067C01025)
  2. Baroda Extrusion Ltd (513502, INE927K01023) - Moving to ESM Framework
  3. Bonlon Industries Ltd (543211, INE0B9A01018) - Moving to ESM Framework
  4. Pulsar International Ltd (512591, INE183U01022) - Moving to ESM Framework
  5. Rajnish Wellness Ltd (541601, INE685Z01033)
  6. Sattrix Information Security Ltd (544189, INE0QUV01010) - Moving to LT-ASM Framework
  7. Simandhar Impex Ltd (544662, INE0VI201010) - Moving to ESM Framework
  8. Sovereign Diamonds Ltd (523826, INE959D01013) - Moving to ESM Framework
  9. Sukhjit Starch & Chemicals Ltd (524542, INE450E01029)
  10. Varyaa Creations Ltd (544168, INE0R6801013) - Moving to LT-ASM Framework
  11. Waa Solar Ltd (541445, INE799N01012) - SME Scrip

Consolidated List of Securities Under ST-ASM

Securities Continuing in Stage I (Annexure III - Partial List)

  1. Aryan Share and Stock Brokers Ltd (542176)
  2. Astron Multigrain Ltd (544628) - SME Scrip
  3. Baba Arts Ltd (532380)
  4. CSB Bank Ltd (542867)*
  5. Dolphin Offshore Enterprises (India) Ltd (522261)*
  6. El Forge Ltd (531144)
  7. Enterprise International Ltd (526574)
  8. Filatex Fashions Ltd (532022)*
  9. Flora Corporation Ltd (540267)
  10. G N A Axles Ltd (540124)* - New Entry
  11. Gajanan Securities Services Ltd (538609) - New Entry

Regulatory Framework

Short Term ASM Framework: Applied to securities showing abnormal price movements or volatility over short periods (5/15/30 days). Securities under ST-ASM are subject to:

  • Enhanced surveillance
  • Additional reporting requirements
  • Potential trading restrictions
  • Stage-wise escalation based on continued price/volume anomalies

Symbol Legend:

  • (*) = As per NSE or moving to LT-ASM
  • ($) = Moving to ESM Framework
  • (@) = SME Scrips
  • (~) = T+0 Scrips
  • (#) = Moving to GSM Framework
  • (^) = Moving to Pledge Framework
  • (**) = Moving to Trade for Trade Framework

Important Dates

  • Effective Date: January 09, 2026
  • Circular Date: January 08, 2026

Impact Assessment

Trading Impact: Securities added to ST-ASM Stage I will face enhanced surveillance and potential liquidity constraints. Traders should expect:

  • Increased monitoring of price movements
  • Possible additional margin requirements
  • Heightened scrutiny of trading patterns

Migration Impact: 11 securities exiting ST-ASM are moving to other surveillance frameworks (LT-ASM, ESM) or being removed, indicating either escalation to stricter measures or improvement in trading behavior.

Market Participants: Investors holding positions in affected securities should review their portfolios and understand the implications of surveillance measures on liquidity and trading conditions.

Impact Justification

Affects trading conditions for 24+ securities through surveillance measures, impacting liquidity and trading patterns for these stocks