Description
BSE announces changes to the Long Term ASM framework effective March 02, 2026, including 7 new securities added, 6 moved to lower stages, and 25 securities exiting the framework.
Summary
BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective March 02, 2026. Seven new securities have been shortlisted for inclusion in the LT-ASM framework, six securities are being moved to lower ASM stages, none are being escalated to higher stages, and 25 securities are exiting the LT-ASM framework entirely.
Key Points
- 7 new securities added to the LT-ASM framework (Part A) effective March 02, 2026
- Nil securities moved to higher ASM stages (Part B)
- 6 securities moved to lower ASM stages (Part C) effective March 02, 2026
- Nil securities added to Direct Stage IV LT-ASM (Part D)
- 25 securities exiting the LT-ASM framework (Annexure II) effective March 02, 2026
- Footnotes: (*) denotes NSE-sourced data; (^) denotes Non-Promoter Holding basis
Regulatory Changes
Part A – Newly Shortlisted in LT-ASM (Stage entry):
| Sr. No. | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 533292 | INE619I01012 | A2Z Infra Engineering Ltd |
| 2 | 506373 | INE795B01031 | Citurgia Biochemicals Ltd |
| 3 | 544513 | INE0VOV01021 | Dev Accelerator Ltd |
| 4 | 531471 | INE397G01019 | Duke Offshore Ltd |
| 5 | 543234 | INE0BTM01013 | SecMark Consultancy Ltd |
| 6 | 530907 | INE417F01017 | SI Capital & Financial Services Ltd |
| 7 | 533407 | INE672K01025 | True Green Bio Energy Ltd |
Part C – Moved to Lower ASM Stage:
| Sr. No. | Scrip Code | ISIN | Scrip Name | Moved to Stage |
|---|---|---|---|---|
| 1 | 535719 | INE989J01017 | Ampvolts Ltd | I |
| 2 | 532395 | INE555B01013 | Axiscades Technologies Ltd | I |
| 3 | 539533 | INE669R01026 | Elitecon International Ltd | III |
| 4 | 538731 | INE982Q01017 | Hanman Fit Ltd | I |
| 5 | 542592 | INE02PC01027 | Humming Bird Education Ltd | I |
| 6 | 507912 | INE724A01017 | LKP Finance Ltd | III |
Annexure II – Securities Exiting LT-ASM:
| Sr. No. | Scrip Code | ISIN | Scrip Name |
|---|---|---|---|
| 1 | 544190 | INE0R7D01018 | 3C IT Solutions and Telecoms (India) Ltd |
| 2 | 544445 | INE0SJX01015 | Asston Pharmaceuticals Ltd |
| 3 | 530233 | INE292C01011 | Auro Laboratories Ltd |
| 4 | 533270 | INE844K01012 | Bedmutha Industries Ltd |
| 5 | 543921 | INE0NXA01015 | Comrade Appliances Ltd |
| 6 | 544173 | INE0QOQ01013 | Finelistings Technologies Ltd |
| 7 | 532041 | INE597C01021 | Hindustan Bio Sciences Ltd |
| 8 | 532341 | INE848A01014 | IZMO Ltd |
| 9 | 509040 | INE040F01033 | Netlink Solutions India Ltd |
| 10 | 526905 | INE743D01011 | Padmanabh Industries Ltd |
| 11 | 524808 | INE037C01010 | Phyto Chem India Ltd |
| 12 | 531694 | INE230F01014 | Rainbow Foundations Ltd |
| 13 | 534708 | INE892L01019 | Shanti Guru Industries Ltd |
| 14 | 538212 | INE909D01026 | Sharp Investments Ltd |
| 15 | 544392 | INE10XX01012 | Spinaroo Commercial Ltd |
| 16 | 544342 | INE0RYC01010 | Stallion India Fluorochemicals Ltd |
| 17 | 504180 | INE502C01039 | Standard Batteries Ltd |
| 18 | 523722 | INE119B01018 | Svam Software Ltd |
| 19 | 514142 | INE592B01024 | T T Ltd |
| 20 | 544531 | INE1LDV01015 | True Colors Ltd |
| 21 | 538597 | INE404F01031 | TTI Enterprise Ltd |
| 22 | 526775 | INE760B01019 | Valiant Communications Ltd |
| 23 | 514175 | INE835A01029 | Vardhman Polytex Ltd |
| 24 | 539167 | INE347L01022 | Virat Leasing Ltd |
| 25 | 523660 | INE054C01015 | Waterbase Ltd |
Compliance Requirements
- Brokers and members must apply enhanced margin requirements for securities newly added to LT-ASM (Part A) as per the applicable stage guidelines from March 02, 2026.
- For securities moved to lower stages (Part C), revised margin requirements corresponding to the new ASM stage apply from March 02, 2026.
- For securities exiting LT-ASM (Annexure II), normal trading and margin norms resume from March 02, 2026.
- Members should update their systems and client communications to reflect the revised ASM classifications.
Important Dates
- Effective Date: March 02, 2026 — all changes to the LT-ASM framework (additions, stage changes, and exits) become applicable.
- Circular Date: February 27, 2026
Impact Assessment
This circular has a significant impact across a broad set of securities. The 7 newly added securities (Part A) will face elevated surveillance restrictions including higher margin requirements and potential trade-to-trade settlement, which typically reduces liquidity and increases transaction costs for investors. The 6 securities moving to lower ASM stages experience partial relaxation of restrictions, improving their trading conditions. The 25 securities exiting LT-ASM represent the largest group and will see full restoration of normal trading conditions, which may boost their liquidity and investor participation. Overall, this is a routine periodic review of the LT-ASM framework, but individual stocks affected — particularly new entrants and exits — may see notable price and volume reactions at market open on March 02, 2026.
Impact Justification
Directly affects trading conditions for 38 securities across multiple ASM stages; new entrants face heightened margin and trading restrictions that materially impact liquidity and investor access.