Enhanced Surveillance Measure (ESM) Updates · 20260820-22
BSE notice 20260820-22 · 20 Aug 2026
Official title
Enhanced Surveillance Measure (ESM)
Official record
Open source pageSummary
Check the official recordWhat changed
BSE updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Specific securities move to lower stages or exit the framework effective August 21, 2026. Other securities enter the framework and move to the Trade-for-Trade settlement segment effective August 24, 2026. These securities attract a 100% margin requirement on all open and new positions. Securities shifting to Stage II face a 2% price band and periodic call auction requirements. The exchange reviews these securities on a periodic basis. This surveillance action does not constitute an adverse action against the affected companies. The exchange reinstates original price bands for securities that exit the framework, provided no other surveillance measures apply.
What you must do
- Apply 100% margin on all open positions as of August 21, 2026, and new positions from August 24, 2026.
- Transition securities qualifying under ESM to the Trade-for-Trade settlement segment.
Document text
[Image omitted. See the official document.]
NOTICE
| Notice No. | 20260820-22 |
|---|---|
| Notice Date | 20 Aug 2026 |
| Category | Trading |
| Segment | Equity |
| Department | DOSS |
| Subject | Enhanced Surveillance Measure (ESM) |
| Attachments | Annexure_ESM |
[Image omitted. See the official document.]
ssThis 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 24, 2026 on all open positions as on August 21, 2026 and new positions created from August 24, 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 21, 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 24, 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 21, 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 21, 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 | Arpita Joshi |
|---|---|
| Deputy Vice President | Manager |
| Surveillance | Surveillance |
Source details
- Source
- BSE Ltd (Bombay Stock Exchange)
- Type
- notice
- Published by source
- 20 Aug 2026
- Document number
- 20260820-22
- Issuing division
- DOSS
- Effective date
- 21 Aug 2026
- Coverage area
- securities