Description
BSE announces 3 securities newly added to the Enhanced Surveillance Measure (ESM) framework and 4 securities moved to higher ESM stages, effective February 26, 2026. No securities are moving out or to lower stages.
Summary
BSE has issued an update to the Enhanced Surveillance Measure (ESM) framework effective February 26, 2026. Three new securities have been added to the ESM framework, four securities have been elevated to higher ESM stages, and no securities are being moved to lower stages or removed from the framework.
Key Points
- 3 securities newly shortlisted into the ESM framework effective February 26, 2026
- 4 securities moved to higher ESM stages effective February 26, 2026
- Nil securities moved to lower ESM stages
- Nil securities moving out of the ESM framework
- Two newly added securities are SME scrips (marked #)
- One newly added security is as per NSE data (marked *)
Securities Added to ESM Framework
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 519463 | INE678B01021 | IB Infotech Enterprises Ltd |
| 2 | 544437 | INE0TBQ01014 | Marc Loire Fashions Ltd (SME) |
| 3 | 511535 | INE026C01013 | NDA Securities Ltd |
Securities Moved to Higher ESM Stage
| Sr No | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 538743 | INE491C01027 | Mudunuru Ltd |
| 2 | 538540 | INE516P01015 | Ramchandra Leasing & Finance Ltd |
| 3 | 543897 | INE0P7001013 | Sancode Technologies Ltd (SME) |
| 4 | 530757 | INE0OUS01011 | Shentracon Chemicals Ltd |
Securities Moving Out of ESM Framework
Nil
Regulatory Changes
The ESM framework list has been revised with additions and stage escalations. The consolidated list of all securities currently under ESM includes a large number of companies across ESM Stage I and Stage II. Securities marked with # are SME scrips, and securities marked with * are as per NSE data. Securities marked (~) will continue in Trade for Trade as per circulars 20251127-51 and 20260105-26 dated November 27, 2025.
Compliance Requirements
- Trading members must note the revised ESM list and apply applicable trading restrictions for newly added and stage-escalated securities from February 26, 2026
- Securities under ESM are subject to Trade for Trade settlement and applicable price bands as per the relevant ESM stage
- Investors and traders holding or intending to trade in the listed securities must comply with ESM framework restrictions
Important Dates
- Effective Date: February 26, 2026 — All additions, stage changes, and removals take effect
- Circular Date: February 25, 2026
Impact Assessment
The addition of 3 securities and escalation of 4 securities to higher ESM stages will impose stricter trading restrictions on these scrips, including Trade for Trade settlement and tighter price bands. This limits intraday trading and speculative activity in these securities. Investors holding positions in these securities should be aware of reduced liquidity and heightened regulatory scrutiny. The impact is confined to the specific securities listed and does not affect broader market operations.
Impact Justification
Affects a limited number of specific securities through enhanced surveillance actions; investors and traders in these scrips face trading restrictions but broader market impact is limited.