Description

BSE circular listing securities being added to, moved within, and removed from the Short Term Additional Surveillance Measure framework effective January 13, 2026.

Summary

BSE has updated the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 13, 2026. Four new securities are being added to ST-ASM Stage I, two securities will move to higher ASM stages, and seven securities are being removed from the framework. The circular provides comprehensive lists of all affected securities and the consolidated list of all securities currently under ST-ASM.

Key Points

  • 4 new securities added to Short Term 5/15/30 Days ASM Framework at Stage I
  • 2 securities continuing in ST-ASM but moving to higher stages
  • 7 securities moving out of ST-ASM Framework
  • Changes effective from January 13, 2026
  • Multiple SME scrips included in the affected securities
  • Consolidated list includes securities at Stage I with various market conditions noted

Regulatory Changes

The ST-ASM framework continues BSE’s surveillance mechanism to identify securities with abnormal price movements. Securities in this framework are subject to additional surveillance measures including:

  • Enhanced margin requirements
  • Price bands
  • Periodic reviews (5/15/30 days)
  • Potential escalation to higher surveillance stages or other frameworks (LT-ASM, GSM, ESM, Trade for Trade)

Securities Added to ST-ASM (Stage I)

  1. Dr Lalchandani Labs Ltd (541299, INE871Z01013) - SME
  2. Glittek Granites Ltd (513528, INE741B01027)
  3. PG Foils Ltd (526747, INE078D01012)
  4. Ravileela Granites Ltd (526095, INE427E01027)

Securities Moving to Higher Stages

  1. LE Lavoir Ltd (539814, INE204S01012)
  2. SHIPWAVES ONLINE LIMITED (544646, INE0O9L01010) - SME

Securities Moving Out of ST-ASM

  1. El Forge Ltd (531144, INE158F01017)
  2. Mother Nutri Foods Ltd (544623, INE0UH001016) - SME
  3. Nexus Surgical And Medicare Ltd (538874, INE370Q01015)
  4. Orient Ceratech Ltd (504879, INE569C01020)
  5. Palco Metals Ltd (539121, INE239L01013)
  6. Technopack Polymers Ltd (543656, INE0MXP01015) - SME
  7. Vanta Bioscience Ltd (540729, INE695X01011) - SME

Important Dates

  • Effective Date: January 13, 2026 - All changes to ST-ASM framework take effect

Impact Assessment

Market Impact: Securities under ST-ASM face trading restrictions that can affect liquidity and investor participation. The addition of new securities indicates BSE’s identification of potential price volatility concerns.

Trading Impact:

  • Securities entering ST-ASM will face higher margin requirements and additional surveillance
  • Securities moving to higher stages will face progressively stricter measures
  • Securities exiting ST-ASM may have improved liquidity, though some may be subject to other surveillance frameworks

Investor Impact: Traders and investors in the affected securities should be aware of enhanced margin requirements and potential trading limitations. SME scrips constitute a significant portion of affected securities, indicating heightened surveillance in the SME segment.

Impact Justification

Affects trading conditions for multiple securities under enhanced surveillance, with specific stocks moving in/out of ST-ASM framework impacting trading flexibility and liquidity