Description

BSE announces changes to securities under Long Term ASM Framework with 3 new inclusions, 5 securities moving to different stages, and 14 securities exiting the framework effective January 27, 2026.

Summary

BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective January 27, 2026. Three securities are newly shortlisted for LT-ASM, five securities will move to different ASM stages while remaining in the framework, and fourteen securities are being removed from LT-ASM. No securities are being moved directly to Stage IV or to higher stages.

Key Points

  • 3 new securities added to Long Term ASM Framework: Fundviser Capital (India) Ltd, Parvati Sweetners and Power Ltd, and Sanathnagar Enterprises Ltd
  • 5 securities moving to lower ASM stages: Axiscades Technologies (to Stage II), BGR Energy Systems (to Stage II), Elitecon International (to Stage III), Indo Thai Securities (to Stage I), NACL Industries (to Stage III)
  • 14 securities exiting LT-ASM Framework, with 6 moving to Trade for Trade framework
  • No securities moving to higher ASM stages or direct Stage IV
  • All changes effective from January 27, 2026

Regulatory Changes

The Long Term ASM Framework is designed to alert investors about securities displaying abnormal price movements and helps in curbing excessive speculation. Securities under this framework face additional surveillance measures including:

  • Price bands restrictions
  • 100% margin requirements
  • Trade-to-trade settlement
  • Position limits

The framework has multiple stages (I through IV) with progressively stricter surveillance measures.

Compliance Requirements

For Trading Members:

  • Update risk management systems for securities entering or moving within LT-ASM
  • Ensure 100% upfront margin collection for applicable securities
  • Inform clients about surveillance measures on affected securities

For Investors:

  • Be aware of enhanced surveillance and trading restrictions on listed securities
  • Understand that securities in LT-ASM may have limited liquidity and higher volatility
  • Review holdings in affected securities

Important Dates

  • Effective Date: January 27, 2026 - All LT-ASM changes become applicable

Securities Details

Part A: New Inclusions in LT-ASM

  1. Fundviser Capital (India) Ltd (530197, INE365H01014)
  2. Parvati Sweetners and Power Ltd (541347, INE295Z01015)
  3. Sanathnagar Enterprises Ltd (509423, INE367E01033)

Part C: Securities Moving to Lower ASM Stages

  1. Axiscades Technologies Ltd → Stage II
  2. BGR Energy Systems Ltd → Stage II
  3. Elitecon International Ltd → Stage III
  4. Indo Thai Securities Ltd → Stage I
  5. NACL Industries Ltd → Stage III

Securities Exiting LT-ASM (14 total)

Notable exits include Ather Energy Ltd, ASM Technologies Ltd, Uravi Defence and Technology Ltd, and MM Rubber Company Ltd. Six securities (Lippi Systems, Novateor Research, PG Foils, Shahlon Silk, Siddheswari Garments, and one other) are moving to Trade for Trade framework.

Impact Assessment

Market Impact: High - The inclusion of new securities in LT-ASM will face strict trading restrictions affecting liquidity. Securities moving to lower stages will see relaxed surveillance measures, potentially improving trading activity.

Liquidity Impact: Securities entering LT-ASM typically experience reduced trading volumes due to 100% margin requirements and heightened investor caution. The 14 securities exiting may see improved liquidity, except those moving to Trade for Trade.

Investor Impact: Investors holding securities newly included in LT-ASM should expect increased volatility monitoring and may face difficulty in position exits. Those holding securities being downgraded to lower stages benefit from reduced restrictions.

Impact Justification

Affects 22 securities with significant trading restrictions under surveillance framework, including new inclusions and movement across stages impacting investor trading patterns