Description
BSE announces securities moving into and out of the Short Term Additional Surveillance Measure (ST-ASM) framework effective February 10, 2026.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective February 10, 2026. Ten securities are being newly included in the ST-ASM framework, one security is moving to a lower stage, and seven securities are exiting the framework. The circular provides a consolidated list of all securities currently under ST-ASM surveillance.
Key Points
- 10 securities newly shortlisted in Short Term 5/15/30 Days ASM Framework
- 1 security (Vivimed Labs Ltd) moving to lower stage ASM
- 7 securities moving out of ST-ASM Framework
- Several SME scrips included in the surveillance framework
- Securities moving out are transitioning to other surveillance frameworks (LT-ASM, ESM, etc.)
- Effective date: February 10, 2026
Securities Entering ST-ASM (Stage I)
- Aritas Vinyl Ltd (544683) - SME
- GCM Commodity & Derivatives Ltd (535917) - SME
- INDO SMC Ltd (544681) - SME
- IZMO Ltd (532341)
- Padmanabh Industries Ltd (526905)
- Prithvi Exchange (India) Ltd (531688)
- Quality RO Industries Ltd (543460) - SME
- Sharp Investments Ltd (538212)
- Sudarshan Pharma Industries Ltd (543828) - SME
- Valiant Communications Ltd (526775)
Securities Moving to Lower Stage
- Vivimed Labs Ltd (532660) - Moving to lower stage within ST-ASM framework
Securities Exiting ST-ASM
- Davangere Sugar Company Ltd (543267)
- Deep Diamond India Ltd (539559)
- Integra Essentia Ltd (535958)
- Manorama Industries Ltd (541974)
- Ravelcare Ltd (544629) - SME, exiting framework
- Stratmont Industries Ltd (530495) - Moving to LT-ASM Framework
- Hit Kit Global Solutions Ltd (532359) - Moving to ESM Framework
Regulatory Changes
Securities under ST-ASM are subject to enhanced surveillance measures which typically include:
- Reduced price bands
- Higher margin requirements
- Additional disclosures
- Periodic review for continuation or exit from framework
The framework operates on a 5/15/30 day basis with multiple stages of surveillance intensity.
Compliance Requirements
- Trading members must be aware of securities under ST-ASM and applicable trading restrictions
- Investors should note the enhanced surveillance status when trading these securities
- Market participants must comply with additional margin and price band requirements
- Brokers should inform clients about the surveillance status of these securities
Important Dates
- Effective Date: February 10, 2026 - All changes to ST-ASM framework become applicable
Impact Assessment
Market Impact: High - The inclusion of securities in ST-ASM framework significantly affects their liquidity and trading dynamics. Enhanced surveillance measures typically result in reduced trading activity and higher transaction costs.
Investor Impact: Investors holding or trading these securities will face stricter trading conditions including potentially tighter price bands and higher margin requirements. Securities exiting the framework may see improved liquidity.
SME Impact: Multiple SME securities are included in this circular, indicating heightened regulatory scrutiny of smaller companies. This may impact investor confidence in the SME segment.
Operational Impact: Trading members need to update their systems and risk management frameworks to account for the changed surveillance status of these securities.
Impact Justification
Affects trading conditions for 17+ securities with enhanced surveillance measures including price bands, margin requirements, and trading restrictions that directly impact investor trading activity.