Description

BSE circular listing securities entering, moving within, and exiting the Long Term Additional Surveillance Measure (LT-ASM) framework effective February 01, 2026.

Summary

BSE has updated the Long Term Additional Surveillance Measure (LT-ASM) framework effective February 01, 2026. The circular identifies 6 securities newly entering the framework, 2 securities moving to higher ASM stages, 6 securities moving to lower ASM stages, and 7 securities exiting the framework. Securities under LT-ASM face enhanced surveillance and trading restrictions based on their stage classification (I through IV).

Key Points

  • 6 new securities shortlisted for Long Term ASM Framework (Part A)
  • 2 securities moving to higher ASM stages: Alphalogic Industries Ltd (to Stage II), Lotus Eye Hospital (to Stage II)
  • 6 securities moving to lower ASM stages including Anand Rayons (to Stage I), CIAN Agro (to Stage III), and others
  • 7 securities moving out of LT-ASM Framework entirely
  • No securities placed directly into Stage IV ASM
  • Changes effective from February 01, 2026

Securities Entering LT-ASM (Part A)

  1. Hindustan Bio Sciences Ltd (532041, INE597C01021)
  2. Paras Petrofils Ltd (521246, INE162C01024)
  3. Royal Cushion Vinyl Products Ltd (526193, INE618A01011)
  4. Ruparel Food Products Ltd (511740, INE239B01014)
  5. Shivam Chemicals Ltd (544165, INE0SGR01013)
  6. Spinaroo Commercial Ltd (544392, INE10XX01012)

Securities Moving to Higher ASM Stages (Part B)

  1. Alphalogic Industries Ltd (543937, INE0NZF01019) → Stage II
  2. Lotus Eye Hospital And Institute Ltd (532998, INE947I01017) → Stage II

Securities Moving to Lower ASM Stages (Part C)

  1. Anand Rayons Ltd (542721, INE02GA01012) → Stage I
  2. CIAN Agro Industries & Infrastructure Ltd (519477, INE052V01019) → Stage III
  3. Kothari Industrial Corporation Ltd (509732, INE972A01020) → Stage II
  4. Stallion India Fluorochemicals Ltd (544342, INE0RYC01010) → Stage II
  5. Sumeet Industries Ltd (514211, INE235C01036) → Stage I
  6. Trescon Ltd (532159, INE088D01011) → Stage I

Securities Exiting LT-ASM (Annexure II)

  1. Betex India Ltd (512477, INE765L01017)
  2. GM Breweries Ltd (507488, INE075D01018)
  3. Ikoma Technologies Ltd (531997, INE164D01010)
  4. Jetking Infotrain Ltd (517063, INE919C01019)
  5. NMS Resources Global Ltd (522289, INE169F01014)
  6. Novelix Pharmaceuticals Ltd (536565, INE314I01036)
  7. Spice Lounge Food Works Ltd (539895, INE631E01024) - moved to Trade for Trade framework

Compliance Requirements

  • Securities in LT-ASM face enhanced surveillance measures proportional to their stage classification
  • Trading members and investors must be aware of applicable restrictions on these securities
  • Higher ASM stages typically involve stricter position limits, margin requirements, and price bands
  • Securities marked with special indicators have transitioned to other surveillance frameworks (Trade for Trade, GSM, ESM, IBC)

Important Dates

  • Effective Date: February 01, 2026
  • Circular Date: January 30, 2026

Impact Assessment

This surveillance action affects investors and traders in 20+ securities with varying degrees of impact. New entries into LT-ASM will face initial surveillance restrictions, while securities moving to higher stages will experience tighter trading controls. Conversely, securities moving to lower stages or exiting the framework will see reduced restrictions, potentially improving liquidity. The movement of Spice Lounge Food Works to Trade for Trade framework represents the most stringent surveillance measure, limiting trading to delivery-based transactions only.

Impact Justification

Significant surveillance action affecting 20+ securities with stage movements and new entries into LT-ASM framework, impacting trading conditions and investor access