Description
BSE notification listing 6 securities being moved into different GSM stages for enhanced surveillance.
Summary
BSE has announced the movement of 6 securities into different stages of the Graded Surveillance Measure (GSM) framework. Two securities are being moved to GSM Stage II and four securities to GSM Stage IV, which imposes stricter trading restrictions and surveillance measures.
Key Points
- Paos Industries Ltd (530291) moved to GSM Stage II
- Popees Cares Ltd (530565) moved to GSM Stage II
- Sashwat Technocrats Ltd (506313) moved to GSM Stage IV
- Pioneer Agro Extracts Ltd (519439) moved to GSM Stage IV
- Ashoka Refineries Ltd (526983) moved to GSM Stage IV
- G-Tech Info-Training Ltd (532139) moved to GSM Stage IV
Regulatory Changes
Securities are being reclassified under the GSM framework based on surveillance parameters. Stage IV represents the highest level of surveillance with maximum trading restrictions, while Stage II represents moderate surveillance levels.
Compliance Requirements
Market participants must adhere to the trading restrictions applicable to each GSM stage:
- Stage II securities: Enhanced monitoring and moderate trading restrictions
- Stage IV securities: Maximum surveillance with stringent trading restrictions including trade-to-trade settlement and 5% price band
Important Dates
Effective immediately from the date of this circular (September 2, 2025).
Impact Assessment
The movement of securities into GSM stages will significantly impact their liquidity and tradability. Stage IV securities will face severe trading restrictions including mandatory trade-to-trade settlement, 5% price bands, and additional margin requirements. This may lead to reduced volumes and increased volatility for affected securities.
Impact Justification
GSM framework imposes trading restrictions and enhanced surveillance on securities, directly affecting liquidity and trading patterns