Description
BSE announces securities being added to, moved within, and removed from the Short Term 5/15/30 Days ASM Framework effective March 10, 2026. Five securities are newly shortlisted, one is moved to a higher stage, and four are moving out of the ST-ASM framework.
Summary
BSE has announced changes to the Short Term Additional Surveillance Measure (ST-ASM) framework effective March 10, 2026. Five securities are newly shortlisted under the ST-ASM framework, one security (Jindal Poly Films Ltd) is being moved to a higher ASM stage, and four securities are exiting the ST-ASM framework. The consolidated list includes approximately 20+ securities across various ASM stages.
Key Points
- 5 securities newly added to ST-ASM (Short Term 5/15/30 Days) framework w.e.f. March 10, 2026
- 1 security (Jindal Poly Films Ltd) moved to a higher ASM stage w.e.f. March 10, 2026 (as per NSE)
- No securities being moved to a lower ASM stage
- 4 securities exiting the ST-ASM framework w.e.f. March 10, 2026
- Securities marked with
@are SME scrips subject to the ST-ASM framework
Regulatory Changes
Newly Added to ST-ASM (Annexure I - Part A)
| Scrip Code | ISIN | Scrip Name |
|---|---|---|
| 523850 | INE767C01012 | Axtel Industries Ltd |
| 544341 | INE12QA01010 | Landmark Global Learning Ltd (SME) |
| 544188 | INE0QZ901011 | Magenta Lifecare Ltd (SME) |
| 522237 | INE092H01014 | Shivagrico Implements Ltd |
| 544175 | INE0SMU01015 | TGIF Agribusiness Ltd (SME) |
Moved to Higher ASM Stage
| Scrip Code | ISIN | Scrip Name |
|---|---|---|
| 500227 | INE197D01010 | Jindal Poly Films Ltd* |
*As per NSE
Moving Out of ST-ASM (Annexure II - Part A)
| Scrip Code | ISIN | Scrip Name |
|---|---|---|
| 540768 | INE766P01016 | Mahindra Logistics Ltd |
| 544056 | INE0PSJ01011 | Sahara Maritime Ltd (SME) |
| 530433 | INE960E01019 | Shiva Global Agro Industries Ltd |
| 543992 | INE0JR601024 | Yatra Online Ltd |
Compliance Requirements
- Trading members and market participants must apply the appropriate settlement cycle (5/15/30 days) for securities under the ST-ASM framework
- Investors holding securities newly added to ST-ASM should be aware of the altered trading conditions effective March 10, 2026
- Securities moving out of ST-ASM may revert to standard trading conditions unless they are subject to other surveillance frameworks (LT-ASM, Trade for Trade, GSM, Pledge, or ESM frameworks)
Important Dates
- Effective Date: March 10, 2026 — all changes (additions, stage movements, and exits) take effect
- Circular Date: March 9, 2026
Impact Assessment
Securities placed under ST-ASM face enhanced surveillance with restricted settlement cycles (5, 15, or 30 days), reducing liquidity and increasing the cost of trading.
- Newly added securities: Traders and investors in Axtel Industries, Landmark Global Learning, Magenta Lifecare, Shivagrico Implements, and TGIF Agribusiness will face immediate trading restrictions starting March 10, 2026. Three of the five newly added are SME scrips.
- Stage escalation: Jindal Poly Films moves to a higher ASM stage, meaning stricter settlement conditions apply.
- Exiting securities: Mahindra Logistics, Sahara Maritime, Shiva Global Agro Industries, and Yatra Online will see improved trading conditions upon exit from ST-ASM, assuming they are not entering other surveillance frameworks.
- The presence of multiple SME scrips in both additions and exits reflects continued BSE scrutiny of the SME segment for price manipulation and unusual volatility patterns.
Impact Justification
ST-ASM placement imposes trading restrictions (5/15/30-day settlement cycles) on affected securities, directly impacting liquidity and trading patterns for investors holding or trading these stocks.