Description
BSE announces movement of 7 securities across different GSM stages including stage transitions and exits from GSM framework.
Summary
BSE has announced changes in Graded Surveillance Measure (GSM) stages for 7 securities effective from the specified date. The circular details securities moving to different GSM stages, including one security exiting GSM framework due to ESM inclusion.
Key Points
- 7 securities are subject to GSM stage changes
- Tamilnadu Steel Tubes Ltd moves to GSM Stage 0 (exit from GSM due to ESM inclusion)
- 2 securities move to GSM Stage I: Ramchandra Leasing & Finance Ltd and Decorous Investment & Trading Co Ltd
- 4 securities move to GSM Stage II: RKD Agri & Retail Ltd, Invigorated Business Consulting Ltd, Madhur Industries Ltd, and T Spiritual World Ltd
- Securities marked with (#) move to lower GSM stages due to ESM Framework inclusion
- Securities marked with ($) move to lower GSM stages due to IBC Framework inclusion
Regulatory Changes
GSM stage transitions impose different levels of trading restrictions and surveillance measures on the affected securities based on their risk profile and market behavior.
Compliance Requirements
- Trading members must ensure compliance with GSM framework requirements for each stage
- Enhanced due diligence and monitoring required for securities in higher GSM stages
- Adherence to position limits and margin requirements as applicable to each GSM stage
Important Dates
- Effective Date: 2025-08-18
- Changes applicable from trading session onwards
Impact Assessment
The GSM stage changes will affect trading dynamics for these securities through modified surveillance measures, potentially impacting liquidity and trading volumes. Securities moving to higher GSM stages face increased trading restrictions, while the security exiting GSM (due to ESM inclusion) will be subject to different regulatory framework.
Impact Justification
Affects trading conditions for 7 securities with varying surveillance levels