Description

BSE announces movement of 17 securities into GSM Stage I and II surveillance measures effective immediately.

Summary

BSE has announced the movement of 17 securities into their respective Graded Surveillance Measure (GSM) stages. 11 securities are moving to GSM Stage I and 6 securities are moving to GSM Stage II, indicating increased regulatory oversight due to price volatility or other risk factors.

Key Points

  • 11 securities moved to GSM Stage I: Jainex Aamcol Ltd, Sashwat Technocrats Ltd, Munoth Capital Markets Ltd, Rishab Special Yarns Ltd, Artson Ltd, High Street Filatex Ltd, Vikalp Securities Ltd, Step Two Corporation Ltd, Omkar Pharmachem Ltd, Concrete Credit Ltd, and Adjia Technologies Ltd
  • 6 securities moved to GSM Stage II: Mathew Easow Research Securities Ltd, MFS Intercorp Ltd, Harmony Capital Service Ltd, VK Global Industries Ltd, Adhata Global Ltd, and Shivamshree Businesses Ltd
  • Securities may move to lower GSM stages if included in ESM Framework or IBC Framework
  • Changes are effective immediately

Regulatory Changes

GSM framework implementation involves:

  • Enhanced surveillance on identified securities
  • Stricter monitoring of price movements and trading patterns
  • Additional disclosure requirements for listed companies
  • Increased margin requirements for trading these securities

Compliance Requirements

  • Listed companies must ensure compliance with enhanced disclosure norms
  • Trading members must apply appropriate margin requirements
  • Investors should be aware of additional restrictions on these securities
  • Market participants must follow GSM-specific trading rules

Important Dates

  • Effective Date: August 11, 2025 (immediate implementation)
  • Review: Securities will be periodically reviewed for movement between GSM stages

Impact Assessment

The GSM implementation will result in:

  • Reduced liquidity in affected securities due to higher margins
  • Enhanced investor protection through closer regulatory oversight
  • Potential stabilization of volatile price movements
  • Increased compliance burden on affected companies
  • Trading restrictions may impact short-term price discovery but improve market integrity

Impact Justification

Affects 17 securities with enhanced surveillance measures that restrict trading flexibility but serves as investor protection mechanism