Description

BSE announces changes to securities under Short Term Additional Surveillance Measure (ST-ASM) framework, including 4 new additions and 7 removals effective January 16, 2026.

Summary

BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 16, 2026. Four securities have been newly shortlisted for ST-ASM framework, while seven securities are moving out of the framework. The circular provides consolidated lists of all securities currently under ST-ASM with their respective stages.

Key Points

  • 4 new securities added to ST-ASM framework: Palm Jewels Ltd, S. M. Gold Ltd, Tilak Ventures Ltd, and Vashishtha Luxury Fashion Ltd (SME)
  • 7 securities moving out of ST-ASM framework: CSB Bank Ltd, Global Ocean Logistics India Ltd (SME), KMF Builders & Developers Ltd, Manaksia Aluminium Company Ltd, Naksh Precious Metals Ltd, Robust Hotels Ltd, and Rukmani Devi Garg Agro Impex Ltd (SME)
  • No securities moving to higher or lower ST-ASM stages
  • Consolidated list shows multiple securities in Stage I of ST-ASM framework
  • Framework includes both main board and SME scrips

Regulatory Changes

The ST-ASM framework applies enhanced surveillance measures to securities based on price movements and trading patterns over 5/15/30 day periods. Securities under this framework face additional trading restrictions and monitoring. The framework is dynamic, with securities being added or removed based on their trading behavior and other surveillance frameworks.

Compliance Requirements

  • Market participants must be aware of securities under ST-ASM framework for trading decisions
  • Enhanced due diligence required for securities under surveillance measures
  • Trading members must comply with additional surveillance requirements for affected securities
  • Investors should note that ST-ASM securities may have restricted trading conditions

Important Dates

  • Effective Date: January 16, 2026 - New ST-ASM framework changes become applicable
  • Circular Date: January 14, 2026

Impact Assessment

The inclusion of securities in ST-ASM framework typically results in reduced liquidity and increased scrutiny. For the 4 newly added securities, investors can expect enhanced surveillance and potential trading restrictions. The 7 securities exiting the framework will see removal of ST-ASM restrictions, though some may be subject to other surveillance frameworks (LT-ASM, ESM, GSM, Trade-for-Trade, or Pledge Framework). The measure aims to protect investors from excessive speculation and price manipulation in volatile securities.

Impact Justification

ST-ASM framework additions and removals affect trading conditions for specific securities. Medium impact as it affects surveillance measures for select stocks but not broad market changes.