Description

Four securities are being moved to higher GSM stages, with two companies moving to Stage II and two moving to Stage III.

Summary

BSE has announced the movement of four securities into higher stages of the Graded Surveillance Measure (GSM) framework. Two securities are moving to GSM Stage II and two securities are moving to GSM Stage III, which will result in enhanced surveillance and trading restrictions.

Key Points

  • Tejassvi Aaharam Ltd (531628) and Minolta Finance Ltd (532164) are moving to GSM Stage II
  • Mehta Securities Ltd (511738) and Welterman International Ltd (526431) are moving to GSM Stage III
  • Securities in ESM Framework may move to lower GSM stages
  • Securities in IBC Framework may also move to lower GSM stages

Regulatory Changes

The GSM framework applies enhanced surveillance measures with increasing restrictions as securities move to higher stages. Stage II and Stage III involve stricter monitoring and potential trading limitations.

Compliance Requirements

  • Market participants must be aware of the enhanced surveillance applicable to these securities
  • Trading in these securities will be subject to GSM framework restrictions
  • Investors should exercise additional caution when dealing with GSM securities

Important Dates

Effective date: August 20, 2025

Impact Assessment

The movement to higher GSM stages will likely reduce trading volumes and liquidity for the affected securities. Investors may face additional restrictions and requirements when trading these stocks, potentially affecting price discovery and market participation.

Impact Justification

Movement to higher GSM stages restricts trading and affects liquidity for specific securities