Description

BSE circular announcing securities shortlisted, moved to higher/lower stages, and removed from the Long Term Additional Surveillance Measure (LT-ASM) framework effective March 13, 2026.

Summary

BSE has announced changes to the Long Term Additional Surveillance Measure (LT-ASM) framework effective March 13, 2026. Seven securities have been newly shortlisted under LT-ASM (Part A), three securities have been moved to higher ASM stages (Part B), none have been moved to lower stages (Part C), and none are moving out of the framework (Annexure II). A consolidated list of all securities currently under LT-ASM is also provided.

Key Points

  • 7 new securities added to LT-ASM framework effective March 13, 2026
  • 3 securities moved to higher Stage II ASM within LT-ASM framework
  • No securities moved to lower ASM stages (Nil)
  • No securities shortlisted for Direct Stage IV LT-ASM (Nil)
  • No securities exiting the LT-ASM framework (Nil)
  • Securities marked (*) are as per NSE data; securities marked (^) are as per Non-Promoter Holding

Regulatory Changes

Part A – Newly Shortlisted in LT-ASM (w.e.f. March 13, 2026):

  • Accedere Ltd (531533 / INE578B01015)
  • DCM Financial Services Ltd (511611 / INE891B01012)
  • Identixweb Ltd (544388 / INE0PA401012)
  • R M Drip and Sprinklers Systems Ltd* (544456 / INE219Y01026)
  • Svaraj Trading & Agencies Ltd (503624 / INE406N01014)
  • Svarnim Trade Udyog Ltd (539911 / INE730R01042)
  • Unishire Urban Infra Ltd (537582 / INE210P01015)

Part B – Moved to Higher ASM Stage (w.e.f. March 13, 2026):

  • Amerise Biosciences Ltd (531681 / INE673C01020) → Stage II
  • Duke Offshore Ltd (531471 / INE397G01019) → Stage II
  • Mahamaya Steel Industries Ltd* (513554 / INE451L01014) → Stage II

Part C – Moved to Lower ASM Stage: Nil

Part D – Direct Stage IV LT-ASM: Nil

Annexure II – Securities Exiting LT-ASM: Nil

Compliance Requirements

  • Brokers and trading members must apply enhanced surveillance conditions (e.g., higher margins, trade-for-trade settlement) for all securities listed under LT-ASM.
  • Investors holding or transacting in the listed securities must be aware of additional margin requirements and settlement conditions applicable under LT-ASM.
  • Members should refer to BSE notice no. 20210604-41 for details on Direct Stage IV LT-ASM applicability.

Important Dates

  • Effective Date: March 13, 2026 – All changes (new additions, stage upgrades) come into force.

Impact Assessment

The addition of 7 securities to LT-ASM and the upgrade of 3 securities to Stage II imposes stricter trading conditions including higher margins and trade-for-trade settlement on the affected scrips. This typically reduces liquidity and increases trading costs for retail and institutional investors in these stocks. The securities affected are predominantly small-cap and SME-segment companies. With no securities exiting the framework this cycle, the overall LT-ASM universe continues to grow, signaling ongoing regulatory scrutiny of these counters.

Impact Justification

Directly affects trading conditions for multiple securities by placing them under LT-ASM or moving them to higher surveillance stages, imposing additional restrictions on buyers and sellers effective March 13, 2026.