Description

BSE announces changes to securities under Short Term Additional Surveillance Measure framework, with 7 new additions, movements between stages, and 6 securities moving out effective January 29, 2026.

Summary

BSE has updated the list of securities under the Short Term Additional Surveillance Measure (ST-ASM) framework effective January 29, 2026. The circular identifies 7 new securities entering the ST-ASM framework, 1 security moving to a higher stage, 1 security moving to a lower stage, and 6 securities exiting the framework. The ST-ASM framework applies enhanced surveillance to securities exhibiting unusual price movements or trading patterns over short periods (5/15/30 days).

Key Points

  • 7 securities newly shortlisted in ST-ASM framework: Cranex Ltd, Indo Cotspin Ltd, Lotus Chocolate Company Ltd, Mercury Ev-Tech Ltd, Onesource Specialty Pharma Ltd, RLF Ltd, and Zenith Steel Pipes & Industries Ltd
  • Antelopus Selan Energy Ltd moved to higher Stage II ASM
  • Shipwaves Online Ltd (SME scrip) moved to lower stage ASM
  • 6 securities moving out of ST-ASM framework: Amit Securities Ltd, Caspian Corporate Services Ltd, Diligent Media Corporation Ltd, JTL Industries Ltd, Premier Polyfilm Ltd, and Sunrakshakk Industries India Ltd
  • Consolidated list includes 12+ securities across various ST-ASM stages
  • Framework includes special markings for SME scrips (@), T+0 scrips (~), and NSE-aligned securities (*)

Regulatory Changes

The Short Term ASM framework applies additional surveillance measures including:

  • Enhanced monitoring of price movements and trading patterns
  • Potential trading restrictions based on stage classification (Stage I, II, etc.)
  • Different treatment for SME securities and T+0 settlement scrips
  • Securities may graduate to other frameworks (LT-ASM, Trade for Trade, GSM, ESM) based on continued surveillance findings

Compliance Requirements

  • Trading members must be aware of securities under ST-ASM and applicable restrictions
  • Investors should note enhanced surveillance status when trading these securities
  • Securities under ST-ASM may have additional margin requirements or trade-to-trade settlement
  • Brokers must ensure proper risk disclosure to clients trading ST-ASM securities

Important Dates

  • Effective Date: January 29, 2026 - All changes to ST-ASM framework become applicable
  • Circular Date: January 28, 2026

Impact Assessment

Market Impact: Medium - Affects specific securities with unusual trading patterns, limiting speculative activity and protecting investor interests. The framework’s short-term nature (5/15/30 days) allows for dynamic monitoring.

Trading Impact: Securities under ST-ASM face enhanced scrutiny and potential trading restrictions, which may reduce liquidity and increase bid-ask spreads for affected stocks.

Investor Impact: Retail investors holding or trading these securities should exercise caution and be aware of elevated surveillance status, which typically indicates higher volatility or irregular price movements.

Compliance Impact: Trading members must update their systems and risk management frameworks to reflect the updated ST-ASM list and ensure appropriate client disclosures.

Impact Justification

Affects trading framework for multiple securities with enhanced surveillance measures, requiring investor awareness but limited broad market impact