Description
BSE announces changes to Long Term ASM framework including addition of 3 securities, movement of 5 securities to different ASM stages, and removal of 14 securities effective January 27, 2026.
Summary
BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective January 27, 2026. The circular includes four categories of changes: Part A adds 3 new securities to LT-ASM, Part B shows no securities moving to higher ASM stages, Part C lists 5 securities moving to lower ASM stages, and Part D shows no securities entering direct Stage IV. Additionally, 14 securities are being removed from the LT-ASM framework.
Key Points
- 3 securities newly shortlisted for Long Term ASM: 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), and NACL Industries (to Stage III)
- 14 securities moving out of LT-ASM framework, with some moved 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 LT-ASM framework is designed to alert investors about securities exhibiting unusual price movements or other market behavior warranting enhanced surveillance. Securities under this framework face additional compliance and trading restrictions.
New Additions (Part A):
- Fundviser Capital (India) Ltd (530197, INE365H01014)
- Parvati Sweetners and Power Ltd (541347, INE295Z01015)
- Sanathnagar Enterprises Ltd (509423, INE367E01033)
Securities Moving to Lower Stages (Part C):
- Axiscades Technologies Ltd → ASM Stage II
- BGR Energy Systems Ltd → ASM Stage II
- Elitecon International Ltd → ASM Stage III
- Indo Thai Securities Ltd → ASM Stage I
- NACL Industries Ltd → ASM Stage III
Securities Exiting LT-ASM (Annexure II):
- 6 securities moved to Trade for Trade framework (marked with *): Lippi Systems, Novateor Research Laboratories, PG Foils, Shahlon Silk Industries, Siddheswari Garments
- Other removals include: Alstone Textiles, ASM Technologies, Ather Energy, Espire Hospitality, Filmcity Media, Mizzen Ventures, MM Rubber Company, Richfield Financial Services, Uravi Defence and Technology
Compliance Requirements
- Investors holding securities in LT-ASM must be aware of enhanced surveillance conditions
- Securities in LT-ASM may face price bands, trade-to-trade settlement, and additional margin requirements
- Market participants should review holdings in affected securities and understand applicable ASM stage restrictions
- Trading members must ensure compliance with applicable surveillance framework requirements for these securities
Important Dates
- Effective Date: January 27, 2026 - All LT-ASM framework changes become applicable
Impact Assessment
Market Impact: Medium - Affects 22 securities with varied impacts. New additions to LT-ASM will face enhanced surveillance and trading restrictions, potentially reducing liquidity. Securities moving to lower stages will see relaxed restrictions, potentially improving trading activity.
Investor Impact: Investors in newly added securities should expect increased volatility monitoring, potential price bands, and trade-to-trade settlement. Those holding securities moving to lower stages may benefit from reduced restrictions. Securities exiting to Trade for Trade framework will face stricter settlement conditions.
Liquidity Impact: New LT-ASM additions typically experience reduced liquidity due to enhanced surveillance measures. Securities exiting or moving to lower stages may see improved liquidity conditions.
Impact Justification
Affects 22 securities with changes in surveillance measures. Impacts trading conditions for investors holding these stocks. Moderate market significance as LT-ASM framework affects liquidity and trading parameters.