Description
BSE announces changes to Short Term ASM framework effective January 28, 2026, including securities being added, moved between stages, and removed from surveillance.
Summary
BSE has issued updates to the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 28, 2026. The circular identifies securities being newly added to the 5/15/30 Days ASM framework, those moving between ASM stages, and those exiting the framework. Four securities are being newly shortlisted, one security is moving to a higher stage, and six securities are moving out of the ST-ASM framework.
Key Points
- 4 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework (Stage I)
- 1 security (Amit Securities Ltd) moving to higher Stage II ASM
- 6 securities moving out of ST-ASM Framework
- Changes effective from January 28, 2026
- Framework includes both regular and SME scrips
- Consolidated list shows 14+ securities currently under ST-ASM surveillance
Securities Added to ST-ASM (Stage I)
Newly Shortlisted (Effective January 28, 2026):
- Bharat Rasayan Ltd (590021, INE838B01021)*
- Dhampur Bio Organics Ltd (543593, INE0I3401014)*
- Oasis Securities Ltd (512489, INE876A01023)
- Spinaroo Commercial Ltd (544392, INE10XX01012)@ - SME Scrip
*As per NSE @SME Scrips shortlisted in ST-ASM Framework
Securities Moving to Higher ASM Stage
Moving to Stage II (from Stage I):
- Amit Securities Ltd (531557, INE137E01014)
Securities Exiting ST-ASM Framework
Moving Out (Effective January 28, 2026):
- Astron Multigrain Limited (544628, INE0RUY01012)@ - SME
- Dolphin Offshore Enterprises (India) Ltd (522261, INE920A01037)
- Neopolitan Pizza And Foods Ltd (544269, INE471R01019)@ - SME
- Shree Rama Multi-Tech Ltd (532310, INE879A01019)
- Spright Agro Ltd (531205, INE179O01031)
- Wardwizard Innovations & Mobility Ltd (538970, INE945P01024)
Current ST-ASM Framework (Partial Consolidated List)
Securities in Stage I:
- Aarti Surfactants Ltd*
- AI Champdany Industries Ltd
- Antelopus Selan Energy Ltd*
- Baazar Style Retail Ltd*
- Bharat Rasayan Ltd* (New)
- Caspian Corporate Services Ltd
- Chandra Prabhu International Ltd
- Davangere Sugar Company Ltd
- Dhampur Bio Organics Ltd* (New)
- Diligent Media Corporation Ltd*
- Dr Lalchandani Labs Ltd@ (SME)
- Forbes & Company Ltd
- Heubach Colorants India Ltd
Securities in Stage II:
- Amit Securities Ltd (Upgraded)
Regulatory Framework
Securities may exit ST-ASM due to inclusion in other frameworks:
- (*) Long Term ASM (LT-ASM) Framework
- (**) Trade for Trade Framework
- (#) Graded Surveillance Measure (GSM) Framework
- (^) Pledge Framework
- ($) Enhanced Surveillance Measure (ESM) Framework
Compliance Requirements
- Trading members must note the revised ST-ASM applicable securities
- Enhanced surveillance measures apply to all listed securities in the framework
- Different stages (I, II) indicate escalating surveillance intensity
- Special marking applies for SME scrips (@) and T+0 scrips (~)
Important Dates
- Effective Date: January 28, 2026
- Circular Date: January 27, 2026
Impact Assessment
Market Impact:
- Trading restrictions and enhanced surveillance on newly added securities may reduce liquidity
- Securities moving to higher stages face stricter monitoring
- Exit from ST-ASM framework provides relief to 6 securities, potentially improving trading conditions
Investor Impact:
- Investors should exercise caution when trading ST-ASM securities
- Enhanced surveillance indicates potential price volatility or unusual trading patterns
- Stage II securities face more stringent monitoring than Stage I
Operational Impact:
- Brokers and trading members must update systems to reflect new ST-ASM classifications
- Risk management systems should incorporate enhanced margin and position limits for affected securities
Impact Justification
Direct impact on trading of multiple securities with enhanced surveillance measures; affects liquidity and trading conditions for listed companies