Description

BSE announces movement of 20 securities across different GSM stages, with one security moving out due to ESM framework inclusion.

Summary

BSE has announced changes in Graded Surveillance Measure (GSM) stages for 20 securities effective immediately. The changes include movements across GSM stages 0 through IV, with one security (Indergiri Finance Ltd) moving to GSM Stage 0 due to inclusion in the ESM framework.

Key Points

  • 20 securities are moving to different GSM stages
  • 1 security moving to GSM Stage 0 (out of GSM due to ESM inclusion)
  • 2 securities moving to GSM Stage I
  • 8 securities moving to GSM Stage II
  • 8 securities moving to GSM Stage III
  • 1 security moving to GSM Stage IV
  • Securities marked with (#) are moving lower in GSM framework due to ESM inclusion
  • Securities marked with ($) would move lower due to IBC framework inclusion

Regulatory Changes

Implementation of revised GSM stage classifications for affected securities, with enhanced surveillance measures based on risk assessment criteria.

Compliance Requirements

  • Trading members must comply with GSM-specific trading restrictions for each security
  • Enhanced monitoring and reporting requirements for securities in higher GSM stages
  • Adherence to position limits and margin requirements as per GSM stage

Important Dates

  • Effective Date: August 12, 2025
  • Implementation: Immediate

Impact Assessment

Trading restrictions will vary based on GSM stage, with higher stages having more stringent requirements. Securities in GSM Stage IV face the most restrictive trading conditions, while those moving to Stage 0 will have normal trading parameters restored.

Impact Justification

Affects trading conditions for 20 securities with varying levels of surveillance measures