Description
BSE updates the list of securities under Long Term ASM Framework effective January 14, 2026, with 8 securities shortlisted and 3 securities moving out due to inclusion in ESM Framework.
Summary
BSE has issued an update on the applicability of Long Term Additional Surveillance Measure (LT-ASM) Framework effective January 14, 2026. Eight securities have been shortlisted for inclusion in the LT-ASM Framework under Stage I, while three securities are moving out due to their inclusion in the Enhanced Surveillance Measure (ESM) Framework. No securities are being moved to higher or lower ASM stages, and no securities are being placed directly in Stage IV.
Key Points
- 8 securities shortlisted for Long Term ASM Framework effective January 14, 2026
- 3 securities moving out of LT-ASM Framework due to inclusion in ESM Framework
- All newly included securities placed in Stage I ASM
- No securities moving to higher or lower ASM stages
- No securities placed directly in Stage IV Long Term ASM Framework
- Consolidated list of securities under LT-ASM includes multiple stages (I and IV)
Securities Added to LT-ASM Framework
Part A - New Additions (Stage I):
- Ampvolts Ltd (535719, INE989J01017)
- GRM Overseas Ltd (531449, INE192H01020)
- Munoth Communication Ltd (511401, INE410E01015)
- Netlink Solutions India Ltd (509040, INE040F01033)
- Nikki Global Finance Ltd (531272, INE526C01012)
- OK Play India Ltd (526415, INE870B01024)
- Shree Krishna Infrastructure Ltd (542146, INE951Z01013)
- Siddheswari Garments Ltd (526877, INE797C01019)
Securities Removed from LT-ASM Framework
Moving out due to ESM Framework inclusion:
- Bhakti Gems and Jewellery Ltd (540545, INE986W01016)
- Pro Clb Global Ltd (540703, INE438C01010)
- Samtel India Ltd (500371, INE538C01017)
Regulatory Changes
The Long Term ASM Framework continues to operate as a surveillance mechanism to identify and monitor securities that exhibit abnormal price movements or trading patterns over an extended period. Securities under this framework are subject to enhanced surveillance and may have trading restrictions including:
- Applicable margin requirements
- Price bands or circuit filters
- Trade-for-trade settlement basis
- Enhanced reporting requirements
The framework operates in multiple stages with progressively stricter surveillance measures.
Compliance Requirements
- Trading members must ensure compliance with applicable margins and trading restrictions for securities under LT-ASM
- Enhanced due diligence required for client orders in these securities
- Adherence to trade-for-trade settlement requirements where applicable
- Monitoring of client trading activity in affected securities
Important Dates
- Effective Date: January 14, 2026 - All changes to LT-ASM Framework take effect
Impact Assessment
Market Impact: The addition of 8 securities to the LT-ASM Framework will result in enhanced surveillance and potentially restricted trading conditions for these stocks. Investors and traders should expect:
- Increased margin requirements for positions in affected securities
- Possible reduction in liquidity due to surveillance measures
- Greater scrutiny of trading activity
Trading Impact: Securities moving out of LT-ASM to ESM Framework (3 securities) will continue to face surveillance measures under a different framework, maintaining regulatory oversight while potentially changing specific trading conditions.
Investor Impact: Investors holding or trading these securities should be aware of the enhanced surveillance status and adjust their trading strategies accordingly, considering potential liquidity constraints and margin requirements.
Impact Justification
Routine surveillance measure update affecting 11 securities with 8 additions to LT-ASM framework and 3 removals, impacting trading conditions for these stocks