Description
BSE updates the list of securities under Long Term ASM Framework with 6 new securities shortlisted and 1 security moved to higher Stage II ASM, effective January 28, 2026.
Summary
BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) Framework effective January 28, 2026. Six securities have been newly shortlisted into the framework, and one security (Garnet International Ltd) has been moved to a higher ASM Stage II. No securities are moving out of the framework or being moved to lower stages.
Key Points
- 6 new securities shortlisted in Long Term ASM Framework: ASM Technologies Ltd, J.A. Finance Ltd, Mizzen Ventures Ltd, Neopolitan Pizza And Foods Ltd, Roselabs Finance Ltd, and Sancode Technologies Ltd
- Garnet International Ltd moved from Stage I to Stage II within Long Term ASM Framework
- No securities are being moved out of the LT-ASM Framework
- No securities are being moved to lower ASM stages
- No securities directly placed in Stage IV of LT-ASM Framework
- Consolidated list shows multiple securities across ASM Stages I, II, and IV
Regulatory Changes
The Long Term ASM Framework is a surveillance mechanism designed to alert investors about securities exhibiting abnormal price movements or unusual trading patterns. Securities under this framework are subject to enhanced surveillance measures including:
- Additional margin requirements
- Trading restrictions
- Price band limitations
- Increased disclosure requirements
Movement to higher stages (Stage II, III, IV) results in progressively stricter surveillance measures and trading constraints.
Compliance Requirements
- Trading members must ensure compliance with applicable margin requirements for securities under LT-ASM
- Investors should be aware of the enhanced surveillance status and associated trading restrictions
- Market participants must adhere to the specific trading conditions applicable to each ASM stage
- Brokers should inform clients about the surveillance status of these securities
Important Dates
- Effective Date: January 28, 2026 - All changes to LT-ASM Framework become applicable
Impact Assessment
Market Impact: The inclusion of securities in LT-ASM Framework typically results in reduced liquidity and trading volumes due to additional margin requirements and trading restrictions. Investors may face difficulty in executing large orders.
Investor Impact: High - Investors holding or trading these securities will face stricter margin requirements and potential price volatility constraints. Enhanced surveillance indicates elevated risk factors associated with these stocks.
Operational Impact: Trading members need to ensure their systems are updated to apply appropriate margin and surveillance measures for the affected securities. Risk management systems must be adjusted to account for the enhanced surveillance status.
Securities Details
Part A - Newly Shortlisted (Stage I)
- ASM Technologies Ltd (526433, INE867C01010)
- J.A. Finance Ltd (543860, INE825B01010)
- Mizzen Ventures Ltd (531537, INE681K01026)
- Neopolitan Pizza And Foods Ltd (544269, INE471R01019)
- Roselabs Finance Ltd (531324, INE475C01012)
- Sancode Technologies Ltd (543897, INE0P7001013)
Part B - Moved to Higher Stage
- Garnet International Ltd (512493, INE590B01010) - Moved to Stage II
Impact Justification
Long Term ASM Framework imposes strict trading restrictions on identified securities to protect investor interests, directly impacting liquidity and trading volumes for affected stocks