Description

BSE announces securities shortlisted for Long Term ASM Framework effective January 30, 2026, including Hindustan Copper Ltd and Quest Flow Controls Ltd.

Summary

BSE has announced the applicability of Long Term Additional Surveillance Measure (LT-ASM) framework effective January 30, 2026. Two securities have been newly shortlisted: Hindustan Copper Ltd (Scrip Code: 513599, ISIN: INE531E01026) and Quest Flow Controls Ltd (Scrip Code: 543982, ISIN: INE0OYE01013). No securities are being moved to higher or lower ASM stages, no securities are being placed in Direct Stage IV, and no securities are exiting the LT-ASM framework.

Key Points

  • Two securities newly shortlisted in Long Term ASM Framework
  • Hindustan Copper Ltd included (marked with * indicating NSE alignment)
  • Quest Flow Controls Ltd included
  • No securities moving to higher or lower ASM stages
  • No securities moving out of LT-ASM framework
  • Effective date: January 30, 2026
  • Consolidated list includes securities across ASM Stages I, II, and IV

Regulatory Changes

The Long Term ASM Framework is designed to identify securities that exhibit abnormal price rise over a sustained period without corresponding fundamentals or disclosures. Securities under this framework are subject to enhanced surveillance measures to protect investors and maintain market integrity.

Compliance Requirements

Market participants and investors should note:

  • Enhanced surveillance applies to shortlisted securities
  • Trading in these securities may be subject to additional monitoring
  • Investors should exercise due diligence when trading securities under LT-ASM
  • Securities marked (*) indicate NSE alignment
  • Securities marked (^) refer to Non Promoter Holding criteria

Important Dates

  • Effective Date: January 30, 2026
  • All changes to LT-ASM framework take effect from this date

Impact Assessment

Market Impact: Medium - The addition of two securities to LT-ASM framework indicates regulatory vigilance on price movements. Hindustan Copper Ltd is a significant public sector undertaking, which may draw investor attention.

Trading Impact: Securities under LT-ASM may experience increased scrutiny, potential trading restrictions, and enhanced disclosure requirements. The framework also includes provisions for securities to move between stages or exit based on various criteria including inclusion in Trade for Trade, GSM Framework, ESM Framework, or IBC Framework.

Investor Impact: Investors should be aware that securities under LT-ASM framework are under enhanced surveillance due to price movement patterns and should conduct thorough due diligence before trading.

Impact Justification

Two securities newly shortlisted for Long Term ASM framework, which impacts trading and surveillance measures but no securities moved to higher/lower stages or exited the framework