Description

BSE announces movement of 9 securities across different stages of Graded Surveillance Measure framework, with 3 companies exiting due to ESM inclusion.

Summary

BSE has announced changes in the Graded Surveillance Measure (GSM) framework affecting 9 securities. Three companies are exiting GSM framework due to inclusion in Enhanced Surveillance Measure (ESM), while six companies are moving to different GSM stages with varying levels of trading restrictions.

Key Points

  • 3 securities moving out of GSM framework due to ESM inclusion
  • 2 securities moving to GSM Stage I
  • 1 security moving to GSM Stage II
  • 1 security moving to GSM Stage III
  • 2 securities moving to GSM Stage IV
  • Higher GSM stages involve stricter trading restrictions and additional compliance requirements

Securities Movement Details

Exiting GSM (Moving to ESM):

  • Polymac Thermoformers Ltd (537573)
  • Avi Products India Ltd (523896)
  • Ashutosh Paper Mills Ltd (531568)

Moving to GSM Stage I:

  • Rajkamal Synthetics Ltd (514028)
  • V R Films & Studios Limited (542654)

Moving to GSM Stage II:

  • Gayatri Projects Ltd (532767)

Moving to GSM Stage III:

  • Harmony Capital Services Ltd (530055)

Moving to GSM Stage IV:

  • Mipco Seamless Rings (Gujarat) (505797)
  • Ace Edutrend Ltd (530093)

Regulatory Framework

The GSM framework involves progressive stages of surveillance with increasing restrictions:

  • Stage 0: Basic surveillance
  • Stage I-IV: Increasing levels of trading restrictions and compliance requirements
  • ESM: Enhanced surveillance with stricter monitoring

Compliance Requirements

  • Securities in higher GSM stages face additional disclosure requirements
  • Trading restrictions may include price bands and volume limits
  • Companies must comply with enhanced reporting standards
  • Investors should exercise additional caution when trading these securities

Impact Assessment

The movement affects liquidity and trading patterns of the listed securities. Securities moving to higher GSM stages will face increased trading restrictions, while those exiting to ESM will be subject to enhanced surveillance measures. Investors should review their positions and consider the implications of these surveillance changes.

Impact Justification

Regular surveillance framework adjustments affecting 9 securities with varying trading restrictions