Description
Seven securities are being moved to different stages of the Graded Surveillance Measure framework, with movements between stages 0, I, and II.
Summary
BSE has announced changes to the Graded Surveillance Measure (GSM) framework affecting seven securities. The securities are being moved to different GSM stages, with one security moving to Stage 0 due to ESM framework inclusion, two securities moving to Stage I, and four securities moving to Stage II.
Key Points
- Seven securities are subject to GSM stage changes effective immediately
- Tamilnadu Steel Tubes Ltd moves to GSM Stage 0 due to ESM framework inclusion
- Two securities (Ramchandra Leasing & Finance Ltd and Decorous Investment & Trading Co Ltd) move to GSM Stage I
- Four securities move to GSM Stage II with increased surveillance measures
- 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
The GSM framework adjustment affects the level of surveillance and trading restrictions applied to the listed securities. Securities moving to higher GSM stages face increased monitoring and potential trading limitations.
Compliance Requirements
- Trading members must comply with applicable GSM stage requirements for affected securities
- Enhanced due diligence may be required for securities in higher GSM stages
- Brokers must inform clients about the surveillance status of these securities
Important Dates
- Effective Date: August 18, 2025
- Implementation: Immediate upon circular release
Impact Assessment
The GSM stage changes will affect trading patterns and investor behavior for the seven listed securities. Higher GSM stages typically result in reduced liquidity and increased price volatility. The inclusion of one security in ESM framework indicates serious concerns requiring close monitoring.
Impact Justification
Affects trading conditions for seven securities with varying surveillance levels