Description

BSE circular listing securities shortlisted for, continuing in, moving between stages, and exiting the Long Term Additional Surveillance Measure framework effective January 16, 2026.

Summary

BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) Framework effective January 16, 2026. The circular identifies 2 securities newly shortlisted for LT-ASM, 1 security directly placed in Stage IV, and provides a consolidated list of all securities currently under various ASM stages. No securities are moving out of the LT-ASM framework in this update.

Key Points

  • 2 securities newly shortlisted for Long Term ASM: Manaksia Aluminium Company Ltd and Olympic Oil Industries Ltd
  • NACL Industries Ltd directly placed in Stage IV Long Term ASM Framework (as per notice no.20210604-41)
  • No securities moving to higher or lower ASM stages
  • No securities exiting the LT-ASM framework
  • Consolidated list includes 20+ securities across ASM Stages I, III, and IV
  • Changes effective from January 16, 2026

Regulatory Changes

The Long Term ASM Framework applies enhanced surveillance to securities exhibiting concerning trading patterns or characteristics over extended periods. Securities under this framework face additional trading restrictions and monitoring. The framework includes multiple stages (I through IV) with progressively stricter surveillance measures.

Compliance Requirements

  • Trading members must be aware of securities under LT-ASM and their respective stages
  • Enhanced due diligence required for orders in LT-ASM securities
  • Securities in LT-ASM may have additional margin requirements and trading restrictions
  • Members should review the consolidated list and update their surveillance systems accordingly

Important Dates

  • Effective Date: January 16, 2026 - New LT-ASM classifications become applicable

Impact Assessment

New Additions to LT-ASM:

  • Manaksia Aluminium Company Ltd (539045, INE859Q01017)
  • Olympic Oil Industries Ltd (507609, INE286E01019)

Direct Stage IV Placement:

  • NACL Industries Ltd (524709, INE295D01020)

Market Impact: Securities under LT-ASM face enhanced scrutiny, which may result in reduced liquidity, higher transaction costs, and increased margin requirements. The direct placement of NACL Industries in Stage IV indicates significant surveillance concerns. Investors in these securities should exercise additional caution and be prepared for potential trading restrictions.

Impact Justification

Affects trading conditions for specific securities under enhanced surveillance, with 2 new additions and 1 direct Stage IV placement