Description
BSE announces 8 securities shortlisted under the Short Term 5/15/30 Days ASM Framework effective February 23, 2026, along with 12 securities exiting the framework.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) 5/15/30 Days framework effective February 23, 2026. Eight securities have been newly shortlisted under the framework (Annexure I), while twelve securities are moving out (Annexure II). No securities are being moved to a higher or lower stage within the framework at this time.
Key Points
- 8 securities added to Short Term 5/15/30 Days ASM Framework w.e.f. February 23, 2026
- 0 securities moving to a higher ST-ASM stage
- 0 securities moving to a lower ST-ASM stage
- 12 securities exiting the ST-ASM Framework w.e.f. February 23, 2026
- 1 of the securities exiting (Alfa Transformers Ltd) is moving to LT-ASM Framework
- 1 of the securities exiting (Vistar Amar Ltd) is moving to ESM Framework
- 2 of the newly added securities (Gokul Refoils & Solvent Ltd, Ujaas Energy Ltd) are per NSE shortlisting
- 1 newly added security (Techknowgreen Solutions Ltd) is an SME scrip
Regulatory Changes
Securities newly added to ST-ASM (Annexure I - effective February 23, 2026):
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 506373 | INE795B01031 | Citurgia Biochemicals Ltd |
| 2 | 532980 | INE020J01029 | Gokul Refoils & Solvent Ltd* |
| 3 | 532334 | INE640B01021 | HB Estate Developers Ltd |
| 4 | 531583 | INE483D01014 | Rap Corp Ltd |
| 5 | 519238 | INE233P01017 | Saptarishi Agro Industries Ltd |
| 6 | 523309 | INE241V01018 | Shri Gang Industries & Allied Products Ltd |
| 7 | 543991 | INE0P4P01011 | Techknowgreen Solutions Ltd@ |
| 8 | 533644 | INE899L01030 | Ujaas Energy Ltd* |
*As per NSE | @SME Scrip
Securities moving out of ST-ASM (Annexure II - effective February 23, 2026):
| Sr No | Scrip Code | ISIN | Scrip Name | Reason |
|---|---|---|---|---|
| 1 | 517546 | INE209C01015 | Alfa Transformers Ltd | Moving to LT-ASM |
| 2 | 539946 | INE217E01014 | Bazel International Ltd | — |
| 3 | 532368 | INE425B01027 | Brightcom Group Ltd | — |
| 4 | 533543 | INE650L01011 | Brooks Laboratories Ltd | — |
| 5 | 534732 | INE176N01039 | Caspian Corporate Services Ltd | — |
| 6 | 512048 | INE195E01020 | Dhansafal Finserve Ltd | — |
| 7 | 544617 | INE606N01019 | Excelsoft Technologies Ltd | — |
| 8 | 539216 | INE653S01028 | Garment Mantra Lifestyle Ltd | — |
| 9 | 540311 | INE863T01013 | JITF Infralogistics Ltd | — |
| 10 | 531996 | INE839E01023 | Odyssey Corporation Ltd | — |
| 11 | 531246 | INE723N01012 | Prima Industries Ltd | — |
| 12 | 538565 | INE878P01019 | Vistar Amar Ltd | Moving to ESM |
Compliance Requirements
- Trading members and investors must note that securities added to ST-ASM are subject to enhanced surveillance conditions including applicable margin requirements under the 5/15/30 Days ASM stages.
- Investors holding or trading in the newly shortlisted securities should review their positions in light of the applicable ASM stage restrictions.
- Brokers must ensure compliance with margin and trading conditions applicable to securities under ST-ASM from February 23, 2026.
Important Dates
- Circular Date: February 20, 2026
- Effective Date for all changes: February 23, 2026
Impact Assessment
The addition of 8 securities to the ST-ASM framework implies increased scrutiny due to unusual price or volume movements. Affected stocks will face enhanced margin requirements and trading restrictions, which may reduce liquidity and increase trading costs for retail and institutional participants. The exit of 12 securities from ST-ASM (including one migrating to the stricter LT-ASM and one to ESM) signals ongoing regulatory monitoring. Overall market impact is limited and localized to the specific scrips involved.
Impact Justification
Routine ST-ASM surveillance update affecting 20 securities; 8 newly added and 12 removed. Impacts trading conditions for those scrips but is a standard periodic surveillance action.