Description

BSE announces changes to Long Term ASM Framework with 6 securities newly shortlisted, 2 moved to higher stages, 6 moved to lower stages, and 7 securities moving out of the framework effective February 01, 2026.

Summary

BSE has issued updates to the Long Term Additional Surveillance Measure (LT-ASM) Framework effective February 01, 2026. The circular details four categories of changes: 6 securities newly shortlisted in LT-ASM, 2 securities moving to higher ASM stages, 6 securities moving to lower ASM stages, and 7 securities exiting the framework. These changes are part of BSE’s ongoing surveillance mechanisms to monitor securities exhibiting abnormal price movements or trading patterns.

Key Points

  • 6 securities newly shortlisted in Long Term ASM Framework: Hindustan Bio Sciences Ltd, Paras Petrofils Ltd, Royal Cushion Vinyl Products Ltd, Ruparel Food Products Ltd, Shivam Chemicals Ltd, and Spinaroo Commercial Ltd
  • 2 securities moving to higher ASM stages: Alphalogic Industries Ltd (to Stage II) and Lotus Eye Hospital And Institute Ltd (to Stage II)
  • 6 securities moving to lower ASM stages: Anand Rayons Ltd (to Stage I), CIAN Agro Industries & Infrastructure Ltd (to Stage III), Kothari Industrial Corporation Ltd (to Stage II), Stallion India Fluorochemicals Ltd (to Stage II), Sumeet Industries Ltd (to Stage I), and Trescon Ltd (to Stage I)
  • 7 securities moving out of LT-ASM Framework: Betex India Ltd, GM Breweries Ltd, Ikoma Technologies Ltd, Jetking Infotrain Ltd, NMS Resources Global Ltd, Novelix Pharmaceuticals Ltd, and Spice Lounge Food Works Ltd
  • No securities shortlisted for direct Stage IV Long Term ASM Framework
  • Changes effective from February 01, 2026

Regulatory Changes

The Long Term ASM Framework applies enhanced surveillance measures to securities that exhibit concerning trading patterns over an extended period. Securities in this framework face additional restrictions and monitoring. The framework operates in multiple stages (I through IV) with increasingly stringent measures at higher stages. Securities can be moved between stages based on their trading behavior and compliance with market regulations.

Compliance Requirements

  • Trading members must note the ASM stage applicable to each affected security
  • Enhanced surveillance measures will apply to newly shortlisted securities from February 01, 2026
  • Securities moving to higher stages will face more stringent surveillance and trading restrictions
  • Trading members should adjust their risk management systems to account for stage changes
  • Securities exiting the framework may have been moved to other surveillance frameworks (Trade for Trade, GSM, ESM, or IBC)

Important Dates

  • February 01, 2026: Effective date for all LT-ASM framework changes including new entries, exits, and stage transitions

Impact Assessment

Market Impact: The changes affect 21 securities across various stages of surveillance. Securities newly entering LT-ASM will face increased trading restrictions and price monitoring, potentially reducing liquidity. Securities moving to higher stages will face progressively tighter controls, while those moving to lower stages will see some relaxation of restrictions.

Trading Impact: Investors and traders in the affected securities should expect potential limitations on trading, including possible price bands, trade-for-trade segments, or additional margin requirements depending on the ASM stage. Securities exiting LT-ASM may continue under different surveillance frameworks with their own specific restrictions.

Operational Impact: Brokers and trading members must update their systems to reflect the new surveillance classifications and ensure compliance with stage-specific requirements for each security.

Impact Justification

Affects 21 securities through entry, exit, and stage changes in LT-ASM framework, impacting trading conditions and surveillance measures for these stocks.