Description

BSE circular updating the list of securities under Enhanced Surveillance Measure (ESM) framework with additions, stage changes, and consolidated list effective January 16, 2026.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective January 16, 2026. Four new securities are being added to ESM Stage I, one security (PH Capital Ltd) is being moved to a higher ESM stage, and no securities are moving out of the framework. The circular includes a consolidated list of 28+ securities currently under ESM surveillance across different stages.

Key Points

  • 4 new securities shortlisted for ESM Stage I framework
  • 1 security (PH Capital Ltd) moving to higher ESM stage
  • No securities moving to lower ESM stage or exiting ESM framework
  • Changes effective from January 16, 2026
  • Consolidated list includes securities in ESM Stage I and Stage II

Securities Added to ESM Stage I

New Additions (Effective Jan 16, 2026):

  1. Global Ocean Logistics India Ltd (544665, INE1ITY01011) - SME Scrip
  2. HCKK Ventures Ltd (539224, INE345Q01017)
  3. Mangalam Industrial Finance Ltd (537800, INE717C01025)
  4. Rukmani Devi Garg Agro Impex Ltd (544552, INE0S5T01017) - SME Scrip

Securities Moving to Higher ESM Stage

Stage Migration (Upward):

  • PH Capital Ltd (500143, INE160F01013) - Moving to higher ESM stage

Securities Moving to Lower ESM Stage

  • Nil

Securities Exiting ESM Framework

  • Nil

Consolidated ESM List (Partial)

The circular provides a consolidated list of securities under ESM surveillance including:

ESM Stage I Securities:

  • Aayush Wellness Ltd, Adcon Capital Services Ltd, Adinath Textiles Ltd, Ador Multiproducts Ltd, Aerpace Industries Ltd, Agri-Tech (India) Ltd, Ajwa Fun World & Resort Ltd, Alan Scott Enterprises Ltd, Ambitious Plastomac Company Ltd, Ameenji Rubber Ltd, Amkay Products Ltd, Aptus Pharma Ltd, Arcee Industries Ltd, Arigato Universe Ltd, Arunis Abode Ltd, Asarfi Hospital Ltd, Ashnisha Industries Ltd, Autoriders International Ltd, Avance Technologies Ltd, Avax Apparels and Ornaments Ltd, AVI Polymers Ltd, Axita Cotton Ltd, and others

ESM Stage II Securities:

  • Aadi Industries Ltd, ABM Knowledgeware Ltd, Alps Industries Ltd, Anirit Ventures Ltd, Arunjyoti Bio Ventures Ltd

Important Dates

  • Effective Date: January 16, 2026

Impact Assessment

Trading Impact:

  • Securities under ESM framework face enhanced surveillance and may have trade-to-trade settlement
  • Investors in the 4 newly added securities should be aware of increased monitoring and potential trading restrictions
  • PH Capital Ltd shareholders face stricter surveillance as the security moves to a higher ESM stage

Market Implications:

  • ESM framework aims to alert investors about securities with unusual price movements or market behavior
  • Enhanced surveillance can impact liquidity and trading volumes
  • Securities remain under ESM until they meet exit criteria as per BSE regulations

Impact Justification

ESM framework changes affect trading conditions and surveillance levels for specific securities, requiring investor attention for impacted stocks