NSE updates the list of securities under Additional Surveillance Measure (ASM) for companies under Insolvency and Bankruptcy Code (IBC), with Morarjee Textiles Limited added to Stage I and Techindia Nirman Limited and Rolta India Limited excluded from ASM.
Impact
Medium
Severity
Medium
Justification
Routine surveillance measure update affecting specific securities under IBC. Limited market-wide impact but significant for affected companies and their investors due to trading restrictions under ASM framework.
BSE updates on securities under Insolvency and Bankruptcy Code surveillance measures, including additions and removals from various IBC stages effective December 18, 2025.
Impact
Medium
Severity
Medium
Justification
Affects trading surveillance for companies under insolvency proceedings. One security added to Stage 1 ASM, two securities excluded from IBC framework. Impacts investors holding or trading these securities.
NSE shifts trading of 4 companies to Z Category effective December 26, 2025 for non-compliance with shareholding pattern submission requirements for two consecutive quarters (June 30 and September 30, 2025).
Impact
High
Severity
High
Justification
Movement to Z Category severely restricts trading liquidity as all trades settle on Trade-for-Trade basis with no intraday trading allowed. This affects 4 companies immediately and highlights 18 others already in Z Category for similar violations.
NSE updates the list of securities under Graded Surveillance Measure (GSM) framework, with new additions, continuations, and removals effective December 2025.
Impact
High
Severity
High
Justification
GSM framework affects trading members and investors through Additional Surveillance Deposit requirements and trading restrictions on securities with prices not commensurate with fundamentals. Multiple securities are being added to or removed from surveillance.
BSE publishes updated list of 54+ securities under Graded Surveillance Measure (GSM) framework based on Criteria 1 and/or Criteria 2, effective December 15, 2025.
Impact
High
Severity
High
Justification
Enhanced surveillance measures significantly impact trading of 54+ listed securities with additional compliance requirements, price bands, and margin requirements affecting investor access and liquidity.
NSE continues trading of 19 companies in Z Category (BZ/SZ Series) due to non-compliance with annual report submission requirements for two consecutive years (FY2024 and FY2025).
Impact
High
Severity
High
Justification
Affects 19 companies already in restrictive trading with continuation of trade-for-trade settlement due to persistent regulatory non-compliance. High impact for investors in these securities with limited liquidity and settlement restrictions.
BSE announces transfer of 30 scrips to 'Z'/'MT' group effective December 12, 2025, due to non-compliance with annual report filing requirements for FY 2024 and FY 2025.
Impact
High
Severity
High
Justification
High severity due to trading restrictions on 30 companies for persistent regulatory non-compliance. These scrips will trade on Trade-for-Trade basis with no intraday trading, significantly impacting liquidity and investor participation.
BSE shifts 30 scrips to 'Z'/'MT' group effective December 12, 2025, due to non-compliance with Regulation 34 of SEBI LODR for two consecutive financial years (March 2024 & March 2025).
Impact
High
Severity
High
Justification
Affects 30 companies with severe trading restrictions (Trade for Trade settlement) due to persistent regulatory non-compliance for two consecutive years, significantly impacting liquidity and investor access.
NSE circular listing 324 securities subject to Reversal Trade Cancellation Mechanism (RTCM) for November 2025, a surveillance measure to prevent price manipulation.
Impact
High
Severity
Medium
Justification
RTCM is a critical surveillance mechanism affecting 324 securities, enabling NSE to cancel erroneous or manipulative trades. High impact on trading operations and investor protection, though routine monthly update.