Description

BSE updates list of securities moving into, within, and out of Short Term ASM framework with revised surveillance stages effective February 5, 2026.

Summary

BSE has issued an update to the Short Term Additional Surveillance Measure (ST-ASM) framework effective February 5, 2026. The circular identifies securities being newly included in the ST-ASM framework, those moving between stages, and those exiting the framework. Seven securities are being newly added to ST-ASM Stage I, one security is moving to a lower stage, and eight securities are moving out of the framework entirely.

Key Points

  • 7 securities newly shortlisted for ST-ASM Stage I framework (5/15/30 days monitoring)
  • 1 security (Antelopus Selan Energy Ltd) moving to lower stage ASM
  • 8 securities moving out of ST-ASM framework
  • Changes effective from February 5, 2026
  • Framework includes both mainboard and SME securities
  • Some securities marked as per NSE coordination (Apar Industries, Avalon Technologies)

Regulatory Changes

The ST-ASM framework applies short-term surveillance measures (5/15/30 day monitoring periods) to securities showing unusual price movements or volume patterns. Securities in this framework face:

  • Enhanced monitoring by exchange
  • Potential trading restrictions
  • Staged surveillance with escalation to higher stages for continued anomalies
  • Possible migration to other frameworks (LT-ASM, GSM, ESM, Trade for Trade, Pledge Framework)

Securities Moving Into ST-ASM (Stage I)

  1. Abate As Industries Ltd (531658)
  2. Apar Industries Ltd (532259) - As per NSE
  3. Avalon Technologies Ltd (543896) - As per NSE
  4. Kabsons Industries Ltd (524675)
  5. Purple Entertainment Ltd (540159)
  6. Rnit Ai Solutions Ltd (517286)
  7. Shiv Texchem Ltd (544272) - SME scrip

Securities Moving to Lower Stage

  • Antelopus Selan Energy Ltd (530075) - Moved to lower surveillance stage

Securities Moving Out of ST-ASM

  1. Dr Lalchandani Labs Ltd (541299) - SME
  2. Indo Cotspin Ltd (538838)
  3. Lotus Chocolate Company Ltd (523475)
  4. Mercury Ev-Tech Ltd (531357)
  5. Onesource Specialty Pharma Ltd (544292)
  6. RLF Ltd (512618)
  7. SHIPWAVES ONLINE LIMITED (544646) - SME
  8. Zenith Steel Pipes & Industries Ltd (531845)

Note: Securities may exit ST-ASM due to migration to other surveillance frameworks including LT-ASM, Trade for Trade, GSM, Pledge Framework, or ESM Framework.

Compliance Requirements

  • Market participants must note the revised surveillance status for affected securities
  • Trading members should adjust risk management systems for securities under ST-ASM
  • Investors should be aware of enhanced surveillance status when trading these securities
  • Increased margin requirements and trading restrictions may apply to ST-ASM securities

Important Dates

  • Effective Date: February 5, 2026 - All surveillance changes become applicable

Impact Assessment

Market Impact: Medium - The inclusion of 7 securities in ST-ASM may lead to reduced liquidity and increased volatility as the market adjusts to surveillance measures. The exit of 8 securities provides relief from restrictions.

Trading Impact: Securities under ST-ASM face potential price freezes, reduced position limits, and increased margin requirements which can significantly impact trading strategies.

Investor Impact: Retail and institutional investors holding positions in newly added securities should expect potential liquidity constraints and may face difficulty in executing large orders.

Company Impact: Companies added to ST-ASM may face reputational concerns and reduced investor interest until they exit the surveillance framework.

Impact Justification

Regular surveillance update affecting 23+ securities with trading restrictions; impacts liquidity and price discovery for listed companies under enhanced monitoring