Description

BSE circular announcing securities being added to, moved within, and removed from the Short Term 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. Four securities are being newly added to the ST-ASM framework, eleven securities are moving out (transitioning to other surveillance frameworks or being removed), and a consolidated list shows securities continuing in various ST-ASM stages. No securities are moving to higher or lower stages within the framework.

Key Points

  • 4 new securities shortlisted in Short Term 5/15/30 Days ASM Framework
  • 11 securities moving out of ST-ASM Framework
  • Multiple securities moving out due to inclusion in other surveillance frameworks (LT-ASM, ESM)
  • No securities moving to higher or lower stages within ST-ASM
  • Changes effective from January 09, 2026
  • Consolidated list includes securities in Stage I of ST-ASM

Securities Added to ST-ASM (Annexure I - Part A)

New entries effective January 09, 2026:

  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)

Securities Moving Out of ST-ASM (Annexure II)

Removed from framework effective January 09, 2026:

  1. Anka India Ltd (531673) - General removal
  2. Baroda Extrusion Ltd (513502) - Moving to ESM Framework
  3. Bonlon Industries Ltd (543211) - Moving to ESM Framework
  4. Pulsar International Ltd (512591) - Moving to ESM Framework
  5. Rajnish Wellness Ltd (541601) - General removal
  6. Sattrix Information Security Ltd (544189) - Moving to LT-ASM Framework
  7. Simandhar Impex Ltd (544662) - Moving to ESM Framework
  8. Sovereign Diamonds Ltd (523826) - Moving to ESM Framework
  9. Sukhjit Starch & Chemicals Ltd (524542) - General removal
  10. Varyaa Creations Ltd (544168) - Moving to LT-ASM Framework
  11. Waa Solar Ltd (541445) - SME scrip removal

Consolidated List (Annexure III - Partial)

Securities continuing in ST-ASM Stage I include:

  • Aryan Share and Stock Brokers Ltd (542176)
  • Astron Multigrain Ltd (544628) - SME scrip
  • Baba Arts Ltd (532380)
  • CSB Bank Ltd (542867)
  • Dolphin Offshore Enterprises (India) Ltd (522261)
  • El Forge Ltd (531144)
  • Enterprise International Ltd (526574)
  • Filatex Fashions Ltd (532022)
  • Flora Corporation Ltd (540267)
  • G N A Axles Ltd (540124) - New addition
  • Gajanan Securities Services Ltd (538609) - New addition

Regulatory Changes

The Short Term ASM framework is designed to alert investors about securities showing unusual price movements or high volatility. Securities under this framework face enhanced surveillance measures including:

  • Specific margin requirements
  • Trading restrictions
  • Enhanced monitoring by exchange

Securities are classified with special markers:

  • (*) - Also listed on NSE or moving to LT-ASM
  • ($) - Moving to ESM Framework
  • (@) - SME scrips
  • (~) - T+0 scrips

Compliance Requirements

  • Market participants must note the revised surveillance classifications
  • Trading members should update their systems for the new ST-ASM applicability
  • Investors should be aware of enhanced surveillance measures on these securities
  • Different margin and settlement requirements may apply to securities under surveillance

Important Dates

Effective Date: January 09, 2026

  • All changes to ST-ASM framework become applicable from market opening on this date

Impact Assessment

Market Impact:

  • Securities newly added to ST-ASM may experience reduced liquidity due to enhanced surveillance
  • Higher margin requirements may deter short-term speculative trading
  • Securities moving out to other frameworks (ESM, LT-ASM) face continued or stricter surveillance

Investor Impact:

  • Investors holding securities in ST-ASM framework should expect potential volatility
  • Enhanced margin requirements increase capital requirements for trading these securities
  • Long-term investors may face settlement restrictions depending on surveillance stage

Operational Impact:

  • Brokers must update surveillance classifications in trading systems
  • Risk management systems need recalibration for affected securities
  • Enhanced due diligence required for client orders in these securities

Impact Justification

Affects trading conditions for multiple securities through surveillance framework changes, directly impacting liquidity and trading activity