Description

BSE announces changes to Long Term ASM Framework effective January 14, 2026, including 8 new securities entering the framework and 3 securities exiting.

Summary

BSE has announced changes to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective January 14, 2026. Eight securities are being newly shortlisted for inclusion in the LT-ASM framework, while three securities are exiting the framework due to their inclusion in other surveillance frameworks (ESM). No securities are being moved to higher or lower ASM stages, and no securities are being placed directly in Stage IV.

Key Points

  • 8 new securities entering Long Term ASM Framework effective January 14, 2026
  • 3 securities exiting LT-ASM due to inclusion in Enhanced Surveillance Measure (ESM) Framework
  • No securities being moved to higher or lower ASM stages during this cycle
  • No securities being placed directly in Stage IV under LT-ASM
  • Consolidated list includes securities across various ASM stages (I, IV)

Securities Entering LT-ASM (Part A)

  1. Ampvolts Ltd (Scrip Code: 535719, ISIN: INE989J01017)
  2. GRM Overseas Ltd (Scrip Code: 531449, ISIN: INE192H01020)
  3. Munoth Communication Ltd (Scrip Code: 511401, ISIN: INE410E01015)
  4. Netlink Solutions India Ltd (Scrip Code: 509040, ISIN: INE040F01033)
  5. Nikki Global Finance Ltd (Scrip Code: 531272, ISIN: INE526C01012)
  6. OK Play India Ltd (Scrip Code: 526415, ISIN: INE870B01024)
  7. Shree Krishna Infrastructure Ltd (Scrip Code: 542146, ISIN: INE951Z01013)
  8. Siddheswari Garments Ltd (Scrip Code: 526877, ISIN: INE797C01019)

Securities Exiting LT-ASM (Annexure II)

  1. Bhakti Gems and Jewellery Ltd (Scrip Code: 540545, ISIN: INE986W01016) - Moving to ESM Framework
  2. Pro Clb Global Ltd (Scrip Code: 540703, ISIN: INE438C01010) - Moving to ESM Framework
  3. Samtel India Ltd (Scrip Code: 500371, ISIN: INE538C01017) - Moving to ESM Framework

Regulatory Framework

The Long Term ASM Framework is a surveillance measure implemented by BSE to enhance market integrity by subjecting certain securities to additional monitoring and trading restrictions. Securities under LT-ASM typically face:

  • Higher margin requirements
  • Trade-to-trade settlement (no intraday trading)
  • Price bands and other trading restrictions
  • Enhanced disclosure requirements

Securities can exit LT-ASM by moving to other frameworks such as:

  • Trade for Trade framework
  • Graded Surveillance Measure (GSM) Framework
  • Enhanced Surveillance Measure (ESM) Framework
  • Insolvency and Bankruptcy Code (IBC) Framework

Important Dates

  • Effective Date: January 14, 2026
  • All changes to security classifications and surveillance measures take effect from market opening on this date

Impact Assessment

For Investors: Securities entering LT-ASM will face stricter trading conditions including higher margins and T+T settlement, reducing liquidity and increasing trading costs. Investors holding these securities should be aware of enhanced surveillance and potential volatility.

For Listed Companies: Companies whose securities are included in LT-ASM face reputational concerns and reduced investor interest due to enhanced surveillance status. This may impact stock liquidity and valuation.

Market Impact: The movement of securities between different surveillance frameworks indicates BSE’s active monitoring of market quality and price behavior. The exit of 3 securities to ESM suggests these companies face more serious concerns requiring enhanced surveillance measures.

Impact Justification

Affects trading conditions for multiple securities under enhanced surveillance with stricter trading requirements and margin obligations