Description
BSE announces 9 securities shortlisted under Short Term 5/15/30 Days ASM Framework and 12 securities moving out, effective February 25, 2026.
Summary
BSE has issued a circular announcing changes to the Short Term Additional Surveillance Measure (ST-ASM) framework under the 5/15/30 Days ASM mechanism, effective February 25, 2026. Nine securities have been newly shortlisted, none have been moved to higher or lower stages within the framework, and twelve securities have been removed from the ST-ASM list.
Key Points
- 9 securities newly added to Short Term 5/15/30 Days ASM Framework effective February 25, 2026
- No securities moved to a higher ASM stage
- No securities moved to a lower ASM stage
- 12 securities removed from the ST-ASM framework effective February 25, 2026
- 2 newly added securities are SME scrips (marked @): Justo Realfintech Ltd and Kizi Apparels Ltd
- 2 newly added securities are also on NSE’s ST-ASM list (marked *): Akme Fintrade (India) Ltd and Dee Development Engineers Ltd
- Wanbury Ltd (524212) is moving out of ST-ASM due to inclusion in the ESM (Enhanced Surveillance Measure) Framework
- 1 SME scrip (Dindigul Farm Product Ltd) is moving out of ST-ASM
Regulatory Changes
The ST-ASM framework applies additional surveillance conditions (e.g., price bands, margin requirements) to securities exhibiting abnormal price or volume behaviour. This circular updates the composition of the framework:
Newly Added (Annexure I – Part A):
| Scrip Code | ISIN | Scrip Name |
|---|---|---|
| 544200 | INE916Y01027 | Akme Fintrade (India) Ltd* |
| 524516 | INE711D01018 | Bacil Pharma Ltd |
| 511664 | INE443D01018 | BGIL Films & Technologies Ltd |
| 538596 | INE222B01028 | Cemantic Infra-Tech Ltd |
| 544198 | INE841L01016 | Dee Development Engineers Ltd* |
| 544542 | INE0W5Q01017 | Justo Realfintech Ltd@ |
| 544221 | INE0RMR01013 | Kizi Apparels Ltd@ |
| 539927 | INE920T01011 | Likhami Consulting Ltd |
| 526604 | INE845B01018 | Lippi Systems Ltd |
Moving Out (Annexure II – Part A):
| Scrip Code | ISIN | Scrip Name | Reason |
|---|---|---|---|
| 530799 | INE336D01014 | Anna Infrastructures Ltd | — |
| 500058 | INE819C01011 | Bihar Sponge Iron Ltd | — |
| 539607 | INE373T01047 | Blue Cloud Softech Solutions Ltd | — |
| 544201 | INE0S6R01027 | Dindigul Farm Product Ltd@ | SME scrip |
| 532309 | INE878A01011 | GE Power India Ltd | — |
| 501311 | INE998D01011 | Jayabharat Credit Ltd | — |
| 530313 | INE285U01025 | Kimia Biosciences Ltd | — |
| 539875 | INE616F01022 | RSD Finance Ltd | — |
| 523606 | INE438E01032 | Sika Interplant Systems Ltd | — |
| 543965 | INE395N01027 | TVS Supply Chain Solutions Ltd | — |
| 511110 | INE848D01018 | V B Desai Financial Services Ltd | — |
| 524212 | INE107F01022 | Wanbury Ltd$ | Moved to ESM |
Compliance Requirements
- Trading members must note the revised ST-ASM list and apply applicable surveillance-related trading conditions (price bands, margin requirements) for newly added securities effective February 25, 2026
- Securities marked @ are SME scrips — relevant rules for SME segment apply
- Securities marked * are also shortlisted on NSE under ST-ASM
- Wanbury Ltd (524212) transitions to the ESM framework; members should refer to the applicable ESM circular for trading conditions
Important Dates
- Effective Date: February 25, 2026 — all additions to and removals from the ST-ASM framework take effect
- Circular Date: February 24, 2026
Impact Assessment
This is a routine periodic update to BSE’s ST-ASM surveillance framework. The impact is moderate and stock-specific:
- Newly added securities will face enhanced surveillance conditions such as tighter price bands and higher margin requirements, which may reduce liquidity and increase trading costs for these scrips
- Removed securities (excluding Wanbury Ltd) revert to normal trading conditions, potentially improving liquidity
- Wanbury Ltd faces continued surveillance under the stricter ESM framework, indicating elevated regulatory concern
- The inclusion of SME scrips (Justo Realfintech, Kizi Apparels) highlights ongoing surveillance of the SME segment
- No systemic or broad market impact is expected; effects are confined to the 21 specific securities listed
Impact Justification
Routine periodic ST-ASM update affecting 21 securities; 9 newly added and 12 removed. No stage escalations or de-escalations. Primarily affects small/mid-cap and SME scrips. Impacts trading conditions but not systemic in nature.