Description
BSE announces 9 securities shortlisted under the Short Term 5/15/30 Days ASM Framework effective February 25, 2026, while 12 securities are being removed from the framework.
Summary
BSE has issued its updated Short Term Additional Surveillance Measure (ST-ASM) list under the 5/15/30 Days ASM Framework. Effective February 25, 2026, nine new securities have been shortlisted for inclusion, while twelve securities are being removed from the framework. No securities are moving to a higher or lower stage within the framework in this update.
Key Points
- 9 securities newly added to the ST-ASM 5/15/30 Days Framework effective February 25, 2026
- 12 securities are being removed from the ST-ASM Framework effective February 25, 2026
- No securities are moving to a higher or lower ASM stage in this update (both lists are “Nil”)
- Two newly added securities (Akme Fintrade, Dee Development Engineers) are shortlisted as per NSE
- Two newly added securities (Justo Realfintech, Kizi Apparels) are SME scrips
- One exiting security (Wanbury Ltd) is marked
$, indicating it is moving out due to inclusion in the ESM Framework - One exiting security (Dindigul Farm Product Ltd) is an SME scrip
Regulatory Changes
The ST-ASM framework applies enhanced surveillance conditions including higher applicable margins and periodic review of price/volume behaviour for shortlisted securities. Under Stage I, securities are subject to a 5-day surveillance window.
Securities newly added to ST-ASM (Stage I) w.e.f. February 25, 2026:
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 544200 | INE916Y01027 | Akme Fintrade (India) Ltd* |
| 2 | 524516 | INE711D01018 | Bacil Pharma Ltd |
| 3 | 511664 | INE443D01018 | BGIL Films & Technologies Ltd |
| 4 | 538596 | INE222B01028 | Cemantic Infra-Tech Ltd |
| 5 | 544198 | INE841L01016 | Dee Development Engineers Ltd* |
| 6 | 544542 | INE0W5Q01017 | Justo Realfintech Ltd@ |
| 7 | 544221 | INE0RMR01013 | Kizi Apparels Ltd@ |
| 8 | 539927 | INE920T01011 | Likhami Consulting Ltd |
| 9 | 526604 | INE845B01018 | Lippi Systems Ltd |
*As per NSE | @ SME Scrip
Securities removed from ST-ASM w.e.f. February 25, 2026:
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 530799 | INE336D01014 | Anna Infrastructures Ltd |
| 2 | 500058 | INE819C01011 | Bihar Sponge Iron Ltd |
| 3 | 539607 | INE373T01047 | Blue Cloud Softech Solutions Ltd |
| 4 | 544201 | INE0S6R01027 | Dindigul Farm Product Ltd@ |
| 5 | 532309 | INE878A01011 | GE Power India Ltd |
| 6 | 501311 | INE998D01011 | Jayabharat Credit Ltd |
| 7 | 530313 | INE285U01025 | Kimia Biosciences Ltd |
| 8 | 539875 | INE616F01022 | RSD Finance Ltd |
| 9 | 523606 | INE438E01032 | Sika Interplant Systems Ltd |
| 10 | 543965 | INE395N01027 | TVS Supply Chain Solutions Ltd |
| 11 | 511110 | INE848D01018 | V B Desai Financial Services Ltd |
| 12 | 524212 | INE107F01022 | Wanbury Ltd$ |
@ SME Scrip | $ Moving out due to inclusion in ESM Framework
Compliance Requirements
- Brokers and trading members must apply the applicable ST-ASM margin requirements for the newly shortlisted securities from February 25, 2026
- Clients holding or trading in newly shortlisted securities should be informed of enhanced surveillance conditions
- Securities exiting the framework (except Wanbury Ltd) revert to normal trading conditions; Wanbury Ltd transitions to ESM Framework conditions
Important Dates
- Effective Date: February 25, 2026 — all additions and removals from the ST-ASM framework take effect
- Circular Date: February 24, 2026
Impact Assessment
The nine newly added securities will face enhanced surveillance with higher margin requirements under Stage I of the ST-ASM framework, which may reduce liquidity and increase trading costs for market participants in these scrips. Inclusion is typically triggered by unusual price or volume movement. The twelve securities exiting the framework (notably TVS Supply Chain Solutions and GE Power India among larger-cap names) will revert to standard trading conditions, potentially improving liquidity. Wanbury Ltd moves to the stricter ESM (Enhanced Surveillance Measure) framework, signalling continued regulatory concern. SME scrips (Justo Realfintech, Kizi Apparels) being brought under ST-ASM reflects BSE’s broadening of surveillance to the SME segment.
Impact Justification
Affects 21 specific securities with trading surveillance changes; medium impact as ST-ASM imposes additional margin and monitoring requirements but does not halt trading outright.