Description

BSE updates the list of securities under Long Term Additional Surveillance Measure framework, with securities moving in, out, and between different ASM stages effective February 02, 2026.

Summary

BSE has updated the list of securities under the Long Term Additional Surveillance Measure (LT-ASM) Framework effective February 02, 2026. The circular identifies securities newly added to LT-ASM, those moving between different ASM stages, securities moving out of the framework, and provides a consolidated list of all securities currently under LT-ASM surveillance.

Key Points

  • 3 new securities shortlisted in Long Term ASM Framework: Jaihind Synthetics Ltd, Suraj Industries Ltd, and Ushakiran Finance Ltd
  • 1 security (Rekvina Laboratories Ltd) continues in LT-ASM but moves to higher Stage II
  • 1 security (Elitecon International Ltd) directly placed in Stage IV under Long Term ASM Framework
  • 1 security (Alphalogic Industries Ltd) moving out of LT-ASM due to inclusion in ESM Framework
  • No securities moving to lower ASM stages
  • Consolidated list includes multiple securities across different ASM stages (I, II, IV)

Regulatory Changes

The Long Term ASM Framework continues to operate with its staged approach (Stages I through IV) to identify and monitor securities that require enhanced surveillance. Securities can move between frameworks based on their classification:

  • Securities moving to Trade for Trade framework exit LT-ASM
  • Securities included in GSM (Graded Surveillance Measure) Framework exit LT-ASM
  • Securities included in ESM (Enhanced Surveillance Measure) Framework exit LT-ASM
  • Securities included in IBC (Insolvency and Bankruptcy Code) Framework exit LT-ASM

Compliance Requirements

Trading members and investors should note:

  • Securities under LT-ASM are subject to additional surveillance measures and trading restrictions
  • Different ASM stages (I, II, IV) have varying levels of surveillance intensity
  • Market participants should review their positions in affected securities
  • Enhanced due diligence required for trading in these securities

Important Dates

  • Effective Date: February 02, 2026 - All changes to LT-ASM framework take effect

Impact Assessment

The LT-ASM framework impacts trading liquidity and investor participation in the listed securities. Securities under this framework face:

  • Increased scrutiny from exchange surveillance mechanisms
  • Potential trading restrictions or special trading sessions
  • Higher margin requirements for traders
  • Reduced investor interest due to surveillance classification

The movement of Alphalogic Industries Ltd from LT-ASM to ESM indicates escalation of surveillance concerns. The promotion of Rekvina Laboratories Ltd to Stage II and direct placement of Elitecon International Ltd in Stage IV suggests heightened regulatory attention to these securities.

Impact Justification

Affects multiple securities with trading restrictions under surveillance measures, but limited to specific stocks rather than market-wide impact