Description

BSE updates Enhanced Surveillance Measure framework with two securities moving to higher ESM stages effective January 20, 2026.

Summary

BSE has updated the Enhanced Surveillance Measure (ESM) framework effective January 20, 2026. Two securities - Ashnisha Industries Ltd and Chandni Machines Ltd - will be moved to higher ESM stages. No new securities are being added to the ESM framework, and no securities are being removed or moved to lower stages.

Key Points

  • No new securities added to ESM framework
  • 2 securities moving to higher ESM stages: Ashnisha Industries Ltd (Scrip Code: 541702, ISIN: INE694W01024) and Chandni Machines Ltd (Scrip Code: 542627, ISIN: INE01GZ01011)
  • No securities moving to lower ESM stages
  • No securities exiting the ESM framework
  • Consolidated list shows 30+ securities across ESM Stage I and Stage II (list truncated in provided content)
  • Ashnisha Industries Ltd moving to ESM Stage II

Regulatory Changes

The ESM framework continues to operate as a surveillance tool to alert investors about securities exhibiting abnormal price movements or other concerns. Securities in higher ESM stages face stricter trading restrictions and surveillance.

Compliance Requirements

  • Market participants should note the ESM stage changes for affected securities
  • Trading members must ensure compliance with ESM framework requirements
  • Enhanced due diligence required for securities under ESM surveillance
  • Investors should exercise caution when trading ESM securities

Important Dates

  • Effective Date: January 20, 2026
  • Changes to ESM classifications become applicable from market opening on this date

Impact Assessment

Market Impact: Low - Only 2 securities affected by stage changes

Trading Impact: Medium for affected securities - Higher ESM stages typically result in additional margins, reduced price bands, and trade-for-trade settlement

Investor Impact: Investors holding or trading Ashnisha Industries Ltd and Chandni Machines Ltd should be aware of increased surveillance and potential trading restrictions

Annexure Details

Annexure I - Securities Shortlisted/Continuing in ESM

  • Part A: 2 securities moving to higher ESM stages

Annexure II - Securities Moving Out

  • No securities exiting ESM framework

Annexure III - Consolidated List

Consolidated list of all securities in ESM framework across Stage I and Stage II, including sectors like textiles, pharmaceuticals, machinery, industries, and hospitality.

Impact Justification

Affects only 2 securities moving to higher ESM stages. Routine surveillance measure adjustment with limited market-wide impact.