BSE13 Aug 2026noticePrepared by Complied AI

Enhanced Surveillance Measure

BSE notice 20260814-40 · 13 Aug 2026

Official title

Enhanced Surveillance Measure (ESM)

Official record

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Summary

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What changed

BSE updates the list of securities under the Enhanced Surveillance Measure (ESM) framework. Certain securities move to lower stages or exit the framework effective August 17, 2026. Securities qualifying for ESM shift to the Trade-for-Trade segment effective August 18, 2026. Securities moving to Stage II face a 2% price band and periodic call auctions effective August 17, 2026. Securities entering the framework attract a 100% margin requirement on all open and new positions effective August 18, 2026. The exchange reviews these securities periodically. This measure functions alongside other existing surveillance measures. The shortlisting of securities results from market surveillance and does not constitute adverse action against the entities.

Who is affected: Market participants and members of the exchange.
Required action: Members must apply a 100% margin on all open positions as of August 17, 2026, and on new positions created from August 18, 2026.
Key dates: Effective date for Stage II price bands and periodic call auctions. — 16 Aug 2026
Effective date for securities moving to lower stages or exiting the framework. — 16 Aug 2026
Effective date for 100% margin requirements and shift to Trade-for-Trade segment. — 17 Aug 2026
Thresholds: Securities shifting to Stage II are subject to a 2% price band.
Securities qualifying under ESM attract a minimum 100% margin.
Consequences: Securities qualifying under ESM shift from the Rolling Settlement segment to the Trade-for-Trade segment.

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Source details

Source: BSE Ltd (Bombay Stock Exchange)
Type: notice
Published by source: 13 Aug 2026
Document number: 20260814-40
Issuing division: DOSS
Effective date: 16 Aug 2026
Coverage area: securities

Document text

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NOTICE


Notice No.	20260814-40
Notice Date	14 Aug 2026
Category	Trading
Segment	Equity
Department	DOSS
Subject	Enhanced Surveillance Measure (ESM)
Attachments	Annexure_ESM

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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 18, 2026 on all open positions as on August 17, 2026 and new positions created from August 18, 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 17, 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 18, 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 17, 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 17, 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

Shreya Ghose Manager Surveillance

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