BSE11 Aug 2026noticePrepared by Complied AI

Enhanced Surveillance Measure

Official title

Enhanced Surveillance Measure (ESM)

Official record

Summary

What changed

BSE updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Certain securities move to Stage I or exit the framework effective August 13, 2026. Other securities enter the framework effective August 14, 2026. Securities under ESM move to the Trade-for-Trade settlement segment. Securities shifting to Stage II attract a 2% price band and periodic call auction requirements. Securities entering the framework attract a 100% margin on open and new positions. The exchange reviews these securities periodically. This surveillance action does not represent an adverse finding against the companies.

Who is affected: Market participants and trading members
Required action: Apply 100% margin on open positions as of August 13, 2026, and new positions from August 14, 2026.
Apply Trade-for-Trade settlement for securities qualifying under ESM from August 14, 2026.
Key dates: Effective date for Stage I movement and framework exit — 12 Aug 2026
Effective date for margin and settlement changes — 13 Aug 2026
Thresholds: Minimum 100% margin requirement for securities under ESM.
2% price band for securities shifting to Stage II.

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Source details

Source: BSE Ltd (Bombay Stock Exchange)
Type: notice
Published by source: 11 Aug 2026
Document number: 20260812-39
Issuing division: DOSS
Effective date: 12 Aug 2026
Coverage area: securities

Document text

Prepared for reading; wording retained from the source.

Verify official record

NOTICE


Notice No.	20260812-39
Notice Date	12 Aug 2026
Category	Trading
Segment	Equity
Department	DOSS
Subject	Enhanced Surveillance Measure (ESM)
Attachments	Annexure_ESM

[Image omitted. See the official document.]

This is with reference to the Exchange notice no. 20230602-44 dated June 02, 2023, notice no. 20230718-46 dated July 18, 2023, notice no. 20240809-42 dated August 09, 2024, notice no. 20240920-63 dated September 20, 2024, notice no. 20241004-65 dated October 04, 2024 and notice no. 20250725-61 dated July 25, 2025 in respect of Enhanced Surveillance Measures (ESM).

Members are hereby requested to note the following:

The securities as per attached Annexure I have satisfied the criteria for inclusion under aforesaid measure and shall attract minimum 100% margin w.e.f. August 14, 2026 on all open positions as on August 13, 2026 and new positions created from August 14, 2026.

List of securities which shall continue in Enhanced Surveillance Measure (ESM) framework but shall be moved to lower Stage i.e. Stage I under ESM Framework w.e.f. August 13, 2026 included in Annexure I.

A consolidated list of securities under the framework is given in Annexure III.

Securities qualifying under ESM shall be shifted from Rolling Settlement segment to Trade-for-Trade segment w.e.f. August 14, 2026.

Additionally, securities shifting to Stage II shall be under Trade for Trade with price band of 2% and with Periodic Call Auction w.e.f. August 13, 2026.

Securities which are placed under the above-mentioned Framework would be reviewed on periodical basis. The list of securities which are moving out from ESM Framework, w.e.f. August 13, 2026 is given in Annexure II.

Market participants may note that ESM framework shall be in conjunction with all other prevailing surveillance measures being imposed by the Exchanges from time to time.

Further, it may also be noted that the shortlisting of securities under ESM is purely on account of market surveillance, and it should not be construed as an adverse action against the concerned company / entity.

The Price Band of a scrip moving out of the framework shall be reinstated to the Price Band applicable to that scrip before it got shortlisted under the respective framework. This will be subject to the scrip not being shortlisted or part of any other Surveillance measure, in which case, the price band of the relevant surveillance framework will prevail.

In case of any clarifications, members may write to us at bse.surv@bseindia.com

For & On behalf of BSE Ltd.

Sanjay Jain Deputy Vice President Surveillance

Arpita Joshi Manager Surveillance

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