Description

BSE updates on securities under Enhanced Surveillance Measure framework, including one scrip moving to higher ESM stage effective January 28, 2026.

Summary

BSE has issued an update on securities under the Enhanced Surveillance Measure (ESM) framework effective January 28, 2026. The circular shows one security (Thrive Future Habitats Ltd, Scrip Code: 523120, ISIN: INE628D01014) will be moved to a higher ESM stage. No new securities are being added to ESM, and no securities are being removed from the framework or moved to lower ESM stages.

Key Points

  • One security moving to higher ESM stage: Thrive Future Habitats Ltd (Scrip Code: 523120)
  • No new securities shortlisted for ESM framework
  • No securities moving to lower ESM stages
  • No securities exiting the ESM framework
  • Changes effective from January 28, 2026
  • Consolidated list includes 32+ securities across ESM Stage I and Stage II

Regulatory Changes

The Enhanced Surveillance Measure framework continues with updated staging for affected securities. Securities under ESM are subject to additional surveillance criteria including:

  • Trade-for-trade settlement
  • Price bands restrictions
  • Additional margin requirements
  • Enhanced disclosure obligations

Stage progression indicates continued surveillance concerns for the affected security.

Compliance Requirements

  • Trading members must adhere to ESM framework requirements for all listed securities
  • Securities in higher ESM stages face stricter trading restrictions
  • Investors should be aware of additional surveillance measures on these securities
  • Market participants must comply with trade-for-trade settlement for ESM securities

Important Dates

  • Effective Date: January 28, 2026 - ESM stage changes become applicable

Impact Assessment

Market Impact: Limited, as only one security is being moved to a higher surveillance stage. However, this may affect liquidity and trading interest in Thrive Future Habitats Ltd.

Investor Impact: Investors holding or trading Thrive Future Habitats Ltd should note the increased surveillance stage, which typically indicates regulatory concerns about price volatility, volume patterns, or corporate governance issues.

Operational Impact: Trading members need to update their surveillance systems to reflect the new ESM classification effective January 28, 2026.

The consolidated list shows a significant number of securities (32+ listed) remain under various ESM stages, indicating continued regulatory focus on market surveillance and investor protection.

Impact Justification

Routine ESM update affecting limited securities; one stock (Thrive Future Habitats Ltd) moving to higher surveillance stage which may impact trading and investor sentiment