Description

BSE circular announcing securities shortlisted for, moving within, and exiting the Short Term Additional Surveillance Measure (ST-ASM) framework effective February 04, 2026.

Summary

BSE has issued a circular detailing changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective February 04, 2026. The circular includes three annexures: Annexure I lists 12 securities newly shortlisted for ST-ASM framework and securities moving between stages; Annexure II identifies 5 securities moving out of the framework; and Annexure III provides a consolidated list of all securities currently under ST-ASM surveillance with their respective stages.

Key Points

  • 12 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework effective February 04, 2026
  • 5 securities moving out of ST-ASM Framework
  • No securities moving to higher or lower stages within the framework at this time
  • Includes both regular securities and SME scrips (marked with @)
  • Some securities marked with (*) indicating NSE alignment
  • Consolidated list shows securities in Stage I and Stage II classifications

Newly Added Securities (Annexure I)

12 Securities Shortlisted for ST-ASM:

  1. AJC Jewel Manufacturers Ltd (544425) - SME Scrip
  2. Alfa Transformers Ltd (517546)
  3. Biofil Chemicals & Pharmaceuticals Ltd (524396)
  4. Biogen Pharmachem Industries Ltd (531752)
  5. Rainbow Foundations Ltd (531694)
  6. Sahara Maritime Ltd (544056) - SME Scrip
  7. Sharda Cropchem Ltd (538666)
  8. Silverline Technologies Ltd (500389)
  9. T T Ltd (514142)
  10. Trans Freight Containers Ltd (513063)
  11. United Foodbrands Ltd (543283)
  12. Wanbury Ltd (524212)

Securities Exiting ST-ASM (Annexure II)

5 Securities Moving Out:

  1. AI Champdany Industries Ltd (532806)
  2. Bharat Rasayan Ltd (590021)
  3. Dhampur Bio Organics Ltd (543593)
  4. Oasis Securities Ltd (512489)
  5. Oval Projects Engineering Ltd (544498) - SME Scrip

Exit Reasons: Securities may exit ST-ASM due to inclusion in other frameworks including LT-ASM, Trade for Trade, GSM, Pledge Framework, or ESM Framework (marked with *, **, #, ^, $ respectively in the circular).

Regulatory Changes

This circular implements the Short Term Additional Surveillance Measure framework designed to monitor securities exhibiting unusual price movements or trading patterns. The framework uses staged surveillance (Stage I, Stage II, etc.) with 5/15/30 day monitoring periods. Securities can enter, exit, or move between stages based on market behavior and risk assessment.

Compliance Requirements

  • Market participants must note the revised ST-ASM status of affected securities
  • Trading members should update their surveillance systems for the 12 newly added securities
  • Investors should be aware that securities under ST-ASM may have additional trading restrictions or margin requirements
  • SME scrips under ST-ASM framework require special attention (marked with @)
  • T+0 scrips shortlisted based on parent company criteria (marked with ~)

Important Dates

  • Effective Date: February 04, 2026 - All changes to ST-ASM framework become effective
  • Circular Date: February 03, 2026

Impact Assessment

Market Impact: Medium - The inclusion of 12 securities in ST-ASM framework will subject them to enhanced surveillance and potentially higher margin requirements, which may reduce liquidity and increase trading costs for these specific securities. Conversely, 5 securities exiting the framework will see relaxation of surveillance measures.

Investor Impact: Investors holding or trading in the affected securities should expect potential changes in trading conditions including possible margin increases, price bands, or other surveillance-related restrictions. The exit of 5 securities provides relief from enhanced surveillance measures.

Operational Impact: Trading members must update their risk management systems and surveillance protocols to reflect the changes. The consolidated list in Annexure III serves as a reference for all securities currently under various stages of ST-ASM surveillance.

Impact Justification

Affects trading conditions for specific securities under surveillance. Material impact on 12 newly included securities and 5 securities exiting the framework. Important for investors and traders in these specific stocks.