Description

BSE circular announcing securities being added to, moved within, 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 new securities have been shortlisted under LT-ASM (Part A), three securities are being moved to higher ASM stages (Part B), none are being moved to lower stages (Part C), and none are being added to direct Stage IV (Part D). No securities are exiting the LT-ASM 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 2 ASM within the LT-ASM framework
  • No securities moved to lower ASM stages
  • No securities exiting the LT-ASM framework
  • No securities added to direct Stage IV LT-ASM
  • Consolidated list (Annexure III) covers a large number of securities currently under LT-ASM at various stages

Regulatory Changes

The following securities are newly shortlisted under LT-ASM (Part A) 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)

The following securities are moved to Stage 2 ASM (Part B) w.e.f. March 13, 2026:

  • Amerise Biosciences Ltd (531681, INE673C01020) → Stage 2
  • Duke Offshore Ltd (531471, INE397G01019) → Stage 2
  • Mahamaya Steel Industries Ltd (513554, INE451L01014)* → Stage 2

*As per NSE data

Compliance Requirements

  • Trading members and investors must note the revised ASM classifications for the affected securities
  • Securities under LT-ASM are subject to enhanced surveillance conditions including additional margins and trade-to-trade settlement restrictions depending on their stage
  • Market participants holding or trading these securities should review applicable margin and settlement requirements per the LT-ASM stage assigned

Important Dates

  • Effective Date: March 13, 2026 — all changes to LT-ASM applicability come into force

Impact Assessment

The placement of 7 new securities under LT-ASM and escalation of 3 others to Stage 2 will result in tighter trading conditions for these stocks, including higher margin requirements and possible trade-to-trade settlement. This reduces liquidity for affected securities and may deter speculative trading. Investors already holding these securities may face higher costs to exit positions. The consolidated list in Annexure III indicates a broad universe of securities remains under LT-ASM scrutiny, reflecting ongoing BSE efforts to monitor potentially manipulated or high-risk small/mid-cap stocks.

Impact Justification

Directly affects trading conditions for multiple securities by placing them under enhanced surveillance, impacting liquidity and investor access for those stocks effective March 13, 2026.