Description

BSE updates the Enhanced Surveillance Measure framework with additions, stage movements, and consolidated list of securities under surveillance effective January 29, 2026.

Summary

BSE has issued an update to the Enhanced Surveillance Measure (ESM) framework effective January 29, 2026. Three new securities have been added to ESM Stage I: Amit Securities Ltd, Borana Weaves Ltd, and Citi Port Financial Services Ltd. CHPL Industries Ltd will be moved to a higher ESM stage. The circular includes a consolidated list of 30+ securities currently under ESM with their respective stages.

Key Points

  • 3 securities newly shortlisted under ESM Stage I effective January 29, 2026
  • 1 security (CHPL Industries Ltd) moving to higher ESM stage
  • No securities moving to lower ESM stage
  • No securities moving out of ESM framework
  • Consolidated list provided showing securities in ESM Stage I and Stage II
  • ESM framework imposes additional surveillance and trading restrictions

Securities Added to ESM (New)

Stage I Additions:

  1. Amit Securities Ltd (Scrip Code: 531557, ISIN: INE137E01014)
  2. Borana Weaves Ltd (Scrip Code: 544404, ISIN: INE16SF01016) - As per NSE
  3. Citi Port Financial Services Ltd (Scrip Code: 531235, ISIN: INE494D01011)

Securities Moving to Higher ESM Stage

  • CHPL Industries Ltd (Scrip Code: 539335, ISIN: INE714Q01014) - Moving to higher stage

Securities Moving Out of ESM

  • None (Nil)

Consolidated ESM List (Partial)

The circular provides a consolidated list including:

  • Stage I Securities: 22+ securities including Aayush Wellness Ltd, Adcon Capital Services Ltd, Adinath Textiles Ltd, Aerpace Industries Ltd, and others
  • Stage II Securities: Including Aadi Industries Ltd, ABM Knowledgeware Ltd, Alps Industries Ltd, Arcee Industries Ltd, Ashnisha Industries Ltd, and Bandaram Pharma Packtech Ltd

Important Dates

  • Effective Date: January 29, 2026 - All ESM changes take effect

Compliance Requirements

  • Trading members must ensure compliance with ESM framework requirements for listed securities
  • Higher ESM stages typically involve stricter surveillance including price bands, trade-for-trade settlement, and additional margin requirements
  • Market participants should review positions in affected securities
  • Securities under ESM subject to enhanced disclosure and monitoring requirements

Impact Assessment

Trading Impact: Securities under ESM face additional trading restrictions that may reduce liquidity and increase volatility. Stage movements indicate escalating or de-escalating surveillance concerns.

Market Participants: Investors and traders in these securities should be aware of potential additional margins, reduced leverage, and possible trade-for-trade settlement requirements depending on ESM stage.

Regulatory Significance: ESM framework is a preventive surveillance measure to protect investor interests and maintain market integrity for securities showing unusual price movements or other concerns.

Impact Justification

Affects trading conditions for specific securities under surveillance framework with stage movements impacting liquidity and trading parameters