Description

BSE updates the Enhanced Surveillance Measure framework with 7 new securities entering ESM, 2 securities moving to higher stages, and consolidated list of all securities under ESM surveillance.

Summary

BSE has updated its Enhanced Surveillance Measure (ESM) framework effective January 09, 2026. Seven securities are being newly shortlisted under ESM Stage I, including Arcee Industries Ltd, Baroda Extrusion Ltd, Bonlon Industries Ltd, Goyal Aluminiums Ltd, Pulsar International Ltd, Simandhar Impex Ltd, and Sovereign Diamonds Ltd. Two existing securities - Earkart Ltd (SME) and Jeevan Scientific Technology Ltd - will be moved to higher ESM stages. No securities are moving to lower stages or exiting the framework at this time.

Key Points

  • 7 new securities entering Enhanced Surveillance Measure (ESM) framework at Stage I
  • 2 securities moving to higher ESM stages: Earkart Ltd and Jeevan Scientific Technology Ltd
  • No securities moving to lower ESM stages
  • No securities exiting ESM framework in this update
  • Changes effective from January 09, 2026
  • Consolidated list includes at least 25 securities under various ESM stages

Regulatory Changes

The Enhanced Surveillance Measure framework continues BSE’s ongoing surveillance mechanism to monitor securities exhibiting abnormal price movements or other concerns. Securities under ESM are subject to additional trading restrictions and monitoring to protect investor interests.

Compliance Requirements

  • Trading members must be aware of ESM classifications for affected securities
  • Securities in ESM framework are subject to specific trading conditions including potential additional margins, trade-for-trade settlement, and price bands
  • Investors should exercise caution when trading in ESM securities
  • Stage progression indicates continued surveillance concerns requiring heightened monitoring

Important Dates

  • Effective Date: January 09, 2026 - All ESM changes take effect

Impact Assessment

New ESM Securities (Stage I):

  1. Arcee Industries Ltd (520121)
  2. Baroda Extrusion Ltd (513502)
  3. Bonlon Industries Ltd (543211)
  4. Goyal Aluminiums Ltd (541152)
  5. Pulsar International Ltd (512591)
  6. Simandhar Impex Ltd (544662)
  7. Sovereign Diamonds Ltd (523826)

Moving to Higher ESM Stage:

  1. Earkart Ltd (544549) - SME scrip
  2. Jeevan Scientific Technology Ltd (538837)

Investors holding these securities should expect reduced liquidity, mandatory delivery-based trading, and potential additional margin requirements. The progression to higher ESM stages for Earkart and Jeevan Scientific Technology indicates ongoing surveillance concerns and warrants investor caution.

Impact Justification

Routine surveillance update affecting specific securities with trading restrictions; impacts investors holding these stocks but limited systemic market impact