Description

BSE circular on securities being added to, moved within, or removed from the Long Term Additional Surveillance Measure (LT-ASM) framework 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. Three new securities have been shortlisted for LT-ASM, one security has been moved to a higher ASM stage, one security has been directly placed in Stage IV, and one security has been removed from the framework due to inclusion in ESM Framework.

Key Points

  • 3 securities newly shortlisted in Long Term ASM Framework: Jaihind Synthetics Ltd, Suraj Industries Ltd, and Ushakiran Finance Ltd
  • Rekvina Laboratories Ltd moved from existing stage to Stage II within LT-ASM
  • Elitecon International Ltd directly placed in Stage IV of LT-ASM Framework
  • Alphalogic Industries Ltd removed from LT-ASM due to inclusion in ESM Framework
  • No securities moved to lower ASM stages
  • Changes effective from February 02, 2026

Regulatory Changes

The circular implements changes to the Long Term Additional Surveillance Measure framework as per existing BSE surveillance policies. Securities are classified into different stages (I, II, IV) based on surveillance criteria, with each stage having progressively stricter trading conditions.

Compliance Requirements

  • Market participants must note the revised surveillance classification of affected securities
  • Trading in newly added LT-ASM securities will be subject to additional surveillance conditions including potential margin requirements and price bands
  • Securities in higher ASM stages face more stringent trading restrictions
  • Brokers and investors should review positions in affected securities

Important Dates

  • Effective Date: February 02, 2026 - All changes to LT-ASM framework become applicable

Impact Assessment

Market Impact: The addition of securities to LT-ASM framework typically results in reduced liquidity and increased trading costs due to higher margins and surveillance conditions. Securities moving to higher stages face progressively stricter conditions.

Operational Impact:

  • Investors holding the 3 newly added securities will face additional surveillance measures
  • Rekvina Laboratories shareholders will experience tighter trading restrictions due to Stage II placement
  • Elitecon International investors will face the strictest conditions under direct Stage IV placement
  • Alphalogic Industries Ltd investors should note the shift from LT-ASM to ESM Framework, which may have different surveillance parameters

Trading Impact: Securities under LT-ASM are subject to additional margins, reduced position limits, and heightened monitoring, which typically leads to lower trading volumes and higher volatility.

Impact Justification

Affects trading of specific securities under surveillance framework. New securities added to LT-ASM and existing securities moved between stages, impacting liquidity and trading conditions for affected stocks.