Description

BSE announces changes to the Long Term ASM framework effective March 10, 2026, including 3 new securities shortlisted, 1 security moved to higher stage, and 1 security moved out of the framework.

Summary

BSE has announced updates to the Long Term Additional Surveillance Measure (LT-ASM) framework effective March 10, 2026. Three new securities have been shortlisted under the framework, one security has been moved to a higher ASM stage, and one security has been moved out of the framework effective March 9, 2026.

Key Points

  • Part A – New entrants (effective March 10, 2026): 3 securities newly shortlisted under LT-ASM: Filatex Fashions Ltd (532022, INE185E01021), Laxmipati Engineering Works Ltd (537669, INE920P01019), and One Global Service Provider Ltd (514330, INE670O01013).
  • Part B – Stage upgrade (effective March 10, 2026): Transpact Enterprises Ltd (542765, INE06YD01010) moved to Stage 2 of LT-ASM.
  • Part C – Stage downgrade: Nil — no securities moved to a lower stage.
  • Part D – Direct Stage IV inclusion: Nil — no securities shortlisted directly into Stage IV.
  • Annexure II – Exits (effective March 9, 2026): Golechha Global Finance Ltd (531360, INE427D01011) removed from LT-ASM due to inclusion in the GSM Framework.
  • Annexure III: A consolidated list of all securities currently under the LT-ASM framework has been published.

Regulatory Changes

The LT-ASM framework is a surveillance mechanism by BSE/NSE to monitor securities exhibiting abnormal price or volume movements over a long-term period. Securities placed under LT-ASM are subject to enhanced margins and trade-to-trade settlement restrictions. This circular updates the list as part of the periodic review.

Compliance Requirements

  • Brokers and trading members must apply applicable margin requirements and settlement rules for newly added and stage-upgraded securities under LT-ASM effective March 10, 2026.
  • Golechha Global Finance Ltd (now in GSM Framework) will be subject to GSM rules instead of LT-ASM rules effective March 9, 2026.
  • Members should update their systems to reflect the revised consolidated list in Annexure III.

Important Dates

  • March 9, 2026: Golechha Global Finance Ltd moves out of LT-ASM framework (into GSM).
  • March 10, 2026: Three new securities enter LT-ASM; Transpact Enterprises Ltd moves to Stage 2.

Impact Assessment

Traders and investors holding positions in Filatex Fashions Ltd, Laxmipati Engineering Works Ltd, One Global Service Provider Ltd, and Transpact Enterprises Ltd will face tightened trading conditions including higher margins and potential trade-to-trade settlement. The upgrade of Transpact Enterprises to Stage 2 represents an escalation of surveillance intensity. Golechha Global Finance Ltd transitions to the stricter GSM framework, which typically imposes even greater trading restrictions. Overall, these changes reflect ongoing market surveillance efforts to protect investors from abnormal price movements in small and mid-cap securities.

Impact Justification

LT-ASM framework changes directly restrict trading conditions for affected securities, imposing additional margin and price band requirements on multiple stocks effective the next trading day.