Description

BSE updates the list of securities under Long Term ASM Framework with additions, stage movements, and exclusions effective February 03, 2026.

Summary

BSE has updated the Long Term Additional Surveillance Measure (LT-ASM) Framework effective February 03, 2026. The circular identifies securities being newly added to LT-ASM, securities moving between ASM stages, securities being directly placed in Stage IV, and securities exiting the framework due to inclusion in other surveillance mechanisms (ESM, GSM, Trade for Trade, or IBC Framework).

Key Points

  • 1 security (Bhatia Colour Chem Ltd) newly shortlisted in Long Term ASM Framework
  • 1 security (Dhanashree Electronics Ltd) moving to higher Stage II ASM
  • 1 security (CIAN Agro Industries & Infrastructure Ltd) directly placed in Stage IV ASM
  • 3 securities exiting LT-ASM due to inclusion in ESM Framework (Paras Petrofils Ltd, Rekvina Laboratories Ltd, Shree Krishna Infrastructure Ltd)
  • Consolidated list includes 17+ securities across different ASM stages with majority in Stage I
  • Changes effective from February 03, 2026

Regulatory Changes

The Long Term ASM Framework continues BSE’s surveillance approach to monitor securities with concerning price movements or volumes. Securities are classified across different stages (I to IV) with varying levels of trading restrictions and margin requirements. Movement between stages depends on continued surveillance triggers or cessation thereof.

Compliance Requirements

  • Trading members must note the revised ASM classifications for affected securities
  • Higher margin requirements apply for securities in LT-ASM framework
  • Price bands and other trading restrictions apply as per respective ASM stages
  • Investors should be aware of enhanced surveillance status when trading these securities

Important Dates

  • Effective Date: February 03, 2026 - All LT-ASM changes become applicable

Impact Assessment

New Entrants: Bhatia Colour Chem Ltd enters LT-ASM Stage I, facing additional trading restrictions and margin requirements.

Stage Movements: Dhanashree Electronics Ltd faces stricter surveillance moving to Stage II. CIAN Agro Industries & Infrastructure Ltd faces most stringent measures with direct Stage IV placement.

Exits: Three securities (Paras Petrofils, Rekvina Laboratories, Shree Krishna Infrastructure) move from LT-ASM to ESM Framework, indicating different surveillance concerns.

Market Impact: Limited overall market impact as these are typically smaller-cap securities with specific surveillance triggers. Investors holding these securities should expect reduced liquidity and higher trading costs due to surveillance measures.

Impact Justification

Impacts specific securities under surveillance framework with trading restrictions, affecting investors holding these stocks