Description

Nine securities have been moved to various GSM stages with six securities entering GSM Stage I, one entering Stage II, and two entering Stage III.

Summary

BSE has announced the movement of nine securities into various stages of the Graded Surveillance Measure (GSM) framework. Six securities are entering GSM Stage I, one security is moving to Stage II, and two securities are being placed in Stage III. The GSM framework imposes enhanced surveillance and trading restrictions based on the stage assigned.

Key Points

  • Six securities moving to GSM Stage I: International Data Management, Popees Cares Limited, Venmax Drugs And Pharmaceuticals, Morarjee Textiles Ltd., Aayush Wellness Limited, and Emami Realty Ltd
  • One security moving to GSM Stage II: ANS Industries Ltd
  • Two securities moving to GSM Stage III: Iykot Hitech Toolroom Ltd. and Adhata Global Limited
  • Securities marked with special symbols may have framework adjustments due to ESM or IBC inclusion
  • Emami Realty Ltd classification follows NSE guidelines

Regulatory Changes

The affected securities will be subject to enhanced surveillance measures corresponding to their assigned GSM stage, which typically includes increased margin requirements, position limits, and additional disclosure obligations.

Compliance Requirements

  • Trading members must ensure compliance with GSM-specific margin and position limit requirements
  • Enhanced due diligence and risk management measures for affected securities
  • Adherence to additional surveillance and reporting requirements as per GSM framework

Important Dates

Effective date not explicitly mentioned in the circular - investors should check with BSE for implementation timeline.

Impact Assessment

The GSM placement will result in increased trading costs through higher margins, reduced position limits, and potential liquidity constraints for the affected securities. Stage III securities face the most restrictive conditions, while Stage I securities have the least restrictive enhanced surveillance measures.

Impact Justification

Affects trading conditions for 9 securities with enhanced surveillance measures that impact liquidity and trading flexibility