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BSE Moves 8 Companies From ASM Framework From Today
The Indian bourse, BSE, will move 8 scrips out of the additional surveillance measure (ASM) framework from 24 September. The companies included are Commex Technology, Oscar Investments, Tiaan Ayurvedic & Herbs, ACI Infocom, Kretto Syscon, Oasis Tradelink, Usher Agro, and VKJ Infradevelopers.
Meanwhile, NSE will remove Usher Agro from the same ASM framework on Monday.
In another notification issued on September 21, Globus Spirits has been chosen to be put in the framework based on high-low variation in the scripe, number of price band hits, close to close price earnings ratio and price variation and client concentration.
For these securities, margins at the rate of 100% plus price band of 5% becomes applicable upon entry into the ASM group.
The BSE in a circular said that the shortlisting of securities under ASM framework "is purely on account of market surveillance and it should not be construed as an adverse action against the concerned company/ entity".
