Description

BSE announces securities being added to, moved within, or removed from the Long Term Additional Surveillance Measure framework effective January 16, 2026.

Summary

BSE has issued an update on securities subject to the Long Term Additional Surveillance Measure (LT-ASM) framework, effective January 16, 2026. Two securities are being newly shortlisted for LT-ASM, one security (NACL Industries Ltd) is being moved directly to Stage IV, and no securities are being removed from the framework. The circular also provides a consolidated list of all securities currently under various ASM stages.

Key Points

  • Two securities newly added to LT-ASM: Manaksia Aluminium Company Ltd (539045) and Olympic Oil Industries Ltd (507609)
  • NACL Industries Ltd (524709) moved directly to Stage IV under LT-ASM framework as per notice 20210604-41
  • No securities being moved to higher or lower ASM stages within the framework
  • No securities being removed from LT-ASM framework
  • Consolidated list includes 20+ securities across ASM Stages I through IV
  • Changes effective from January 16, 2026

Regulatory Changes

The LT-ASM framework continues to operate as a surveillance mechanism for securities exhibiting concerning trading patterns or unusual price movements over a longer time horizon. Securities under this framework face:

  • Enhanced monitoring by the exchange
  • Potential trading restrictions depending on ASM stage
  • Price bands and other surveillance measures
  • Possible escalation to higher stages or other frameworks (GSM, ESM, Trade-for-Trade, IBC)

Compliance Requirements

  • Trading members must be aware of securities under LT-ASM and applicable restrictions
  • Investors should note that securities in higher ASM stages may have reduced liquidity
  • Companies listed under LT-ASM should work toward compliance to exit the framework
  • Brokers must ensure proper disclosure to clients trading in these securities

Important Dates

  • Effective Date: January 16, 2026 - New LT-ASM classifications come into effect

Impact Assessment

Market Impact: The addition of two new securities to LT-ASM and movement of NACL Industries to Stage IV indicates ongoing surveillance concerns. These measures typically result in reduced trading volumes and liquidity for affected securities.

Investor Impact: Investors holding or planning to trade in these securities should be aware of enhanced surveillance measures, which may include additional margin requirements, price bands, or trading restrictions depending on the ASM stage.

Company Impact: Companies under LT-ASM face reputational concerns and reduced investor interest. Stage IV placement (like NACL Industries) represents the highest level of concern under this framework and may require significant corrective actions to exit surveillance.

Additional Details

Part A - Newly Shortlisted Securities:

  1. Manaksia Aluminium Company Ltd (Scrip Code: 539045, ISIN: INE859Q01017)
  2. Olympic Oil Industries Ltd (Scrip Code: 507609, ISIN: INE286E01019)

Part D - Direct Stage IV Entry:

  1. NACL Industries Ltd (Scrip Code: 524709, ISIN: INE295D01020)

Consolidated List Sample (Stage I):

  • 3B Films Ltd, A-1 Ltd (Stage IV), AIK Pipes and Polymers Ltd, Alexander Stamps And Coin Ltd, Alphalogic Industries Ltd, Alstone Textiles, Ambo Agritec Ltd, Ampvolts Ltd, Anand Rayons Ltd, Aryaman Capital Markets Ltd, Ashram Online.Com Ltd, ASM Technologies Ltd, Asston Pharmaceuticals Ltd, Atal Realtech Ltd, Ather Energy Ltd, Auro Laboratories Ltd, Avishkar Infra Realty Ltd, and others.

Stage III:

  • Axiscades Technologies Ltd

Securities may exit LT-ASM if moved to other frameworks including Trade for Trade (*), GSM (#), ESM ($), or IBC (&) frameworks.

Impact Justification

Affects specific securities under surveillance framework with trading restrictions, impacting liquidity and investor access for listed companies