Description
Four securities are being moved to different stages of the Graded Surveillance Measure framework for enhanced monitoring.
Summary
BSE has announced the movement of four securities into different stages of the Graded Surveillance Measure (GSM) framework. This includes one security moving to Stage I, one to Stage II, and two securities advancing to Stage III, indicating varying levels of enhanced surveillance and trading restrictions.
Key Points
- Adline Chem Lab Ltd (524604) moves to GSM Stage I
- Velan Hotels Ltd (526755) moves to GSM Stage II
- Sinnar Bidi Udyog Ltd (509887) and Oscar Global Ltd (530173) move to GSM Stage III
- Securities may move to lower GSM stages if included in ESM or IBC frameworks
Regulatory Changes
The GSM framework applies progressive surveillance measures based on stage:
- Stage I: Basic enhanced surveillance
- Stage II: Moderate restrictions on trading
- Stage III: Stringent surveillance with significant trading limitations
Compliance Requirements
- Trading members must adhere to applicable GSM restrictions for each security
- Enhanced due diligence required for transactions in GSM securities
- Compliance with stage-specific position limits and margin requirements
Important Dates
- Circular Date: July 28, 2025
- Implementation: Immediate effect from circular date
Impact Assessment
Securities in higher GSM stages face reduced liquidity and increased trading costs. Stage III securities (Sinnar Bidi Udyog and Oscar Global) will experience the most significant impact with stringent surveillance measures affecting investor participation and market activity.
Impact Justification
Routine surveillance measure affecting specific securities with trading restrictions