Description

BSE circular detailing securities being added to, moved within, or removed from the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 14, 2026.

Summary

BSE has issued an update on the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 14, 2026. Four securities are being newly shortlisted into the ST-ASM framework, one security (Vivimed Labs Ltd) will be moved to a higher stage within the framework, and seven securities are exiting the ST-ASM framework. The circular also provides a consolidated list of all securities currently under ST-ASM surveillance.

Key Points

  • 4 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework (Adcounty Media India Ltd, AuSom Enterprise Ltd, Dipna Pharmachem Ltd, Rukmani Devi Garg Agro Impex Ltd)
  • 1 security moving to higher Stage ASM (Vivimed Labs Ltd)
  • 7 securities moving out of ST-ASM Framework (Royal Cushion Vinyl Products Ltd, Sita Enterprises Ltd, Super Bakers India Ltd, Lykis Ltd, Sheetal Cool Products Ltd, Jay Kailash Namkeen Ltd, Transvoy Logistics India Ltd)
  • Multiple SME scrips included in the surveillance framework
  • Changes effective from January 14, 2026
  • Consolidated list includes 14+ securities under various ST-ASM stages

Regulatory Changes

The Short Term Additional Surveillance Measure (ST-ASM) framework applies enhanced surveillance to securities exhibiting abnormal price movements or trading patterns. Securities in this framework may face restrictions such as reduced price bands, additional margin requirements, or trading only in specific sessions. The framework operates in stages (I, II, III) with progressively stringent measures.

Compliance Requirements

  • Market participants must be aware of securities under ST-ASM framework
  • Trading members should ensure compliance with additional margin requirements for ST-ASM securities
  • Investors should note that securities marked with @ are SME scrips
  • Securities marked with * follow NSE’s surveillance framework
  • Securities marked with ~ are T+0 scrips shortlisted based on parent company

Important Dates

  • Effective Date: January 14, 2026 - All changes to ST-ASM framework become applicable

Impact Assessment

Market Impact: Medium - The surveillance measures affect trading liquidity and conditions for the listed securities. Investors in these stocks may experience reduced liquidity, higher margin requirements, and restricted trading conditions.

Trading Impact: Securities entering ST-ASM may see reduced trading volumes due to additional restrictions. Movement to higher stages indicates continued surveillance concerns. Securities exiting the framework will have normal trading conditions restored.

Investor Impact: Traders and investors holding positions in affected securities need to be aware of additional margin requirements and trading restrictions. The surveillance framework is designed to protect investors from excessive volatility and potential manipulation.

Impact Justification

Surveillance measures affect trading conditions and liquidity for multiple securities. Important for traders and investors in affected stocks to understand restrictions and stage changes.