Description
BSE circular announcing movement of 20 securities across different GSM stages for enhanced monitoring and surveillance.
Summary
BSE has announced the movement of 20 securities across different stages of the Graded Surveillance Measure (GSM) framework. The securities are being moved to various GSM stages (0, I, II, III, and IV) based on their risk assessment and trading patterns. One security (Indergiri Finance Ltd) is moving to GSM Stage 0 due to inclusion in the ESM framework.
Key Points
- 20 securities are being moved to different GSM stages
- 1 security moving to Stage 0, 2 to Stage I, 7 to Stage II, 9 to Stage III, and 1 to Stage IV
- Indergiri Finance Ltd is moving to lower GSM stage due to ESM framework inclusion
- Movement affects securities across various sectors including finance, retail, chemicals, and technology
- GSM stages determine the level of surveillance and trading restrictions
Regulatory Changes
- Implementation of revised GSM stage classifications for affected securities
- Enhanced surveillance measures applicable based on new stage assignments
- Trading restrictions may vary based on GSM stage level
Compliance Requirements
- Market participants must adhere to trading conditions specific to each GSM stage
- Brokers and investors should be aware of applicable price bands and position limits
- Enhanced disclosure requirements may apply for securities in higher GSM stages
Important Dates
- Effective Date: August 12, 2025 (as per circular date)
- Implementation applies immediately to all affected securities
Impact Assessment
- Trading volumes may be affected due to enhanced surveillance measures
- Price discovery mechanism may be impacted by GSM stage restrictions
- Investor sentiment could be influenced by GSM stage classifications
- Market liquidity for affected securities may experience changes based on surveillance level
Impact Justification
Affects trading conditions for 20 securities with varying GSM stage movements impacting market surveillance