Description
Three securities moved to higher GSM stages with Quadrant Televentures to Stage I, Sparkle Gold Rock to Stage II, and Yaari Digital to Stage III.
Summary
BSE has updated the Graded Surveillance Measure (GSM) list, moving three securities to higher surveillance stages. This routine regulatory action increases monitoring and trading restrictions for securities that meet specific risk criteria.
Key Points
- Quadrant Televentures Limited (511116) moved to GSM Stage I
- Sparkle Gold Rock Limited (530037) moved to GSM Stage II
- Yaari Digital Integrated Services Ltd (533520) moved to GSM Stage III
- Yaari Digital’s movement is aligned with NSE action
- Framework includes provisions for securities moving to lower GSM stages due to ESM or IBC inclusion
Regulatory Changes
No new regulatory framework changes, but application of existing GSM framework to additional securities with enhanced surveillance requirements.
Compliance Requirements
- Traders and investors should be aware of increased surveillance on these securities
- Higher GSM stages typically involve additional disclosure requirements and trading restrictions
- Market participants should review position limits and risk management for affected securities
Important Dates
- Effective Date: September 4, 2025
- Implementation: Immediate upon circular publication
Impact Assessment
Limited market impact as this affects only three securities. GSM placement typically reduces liquidity and increases price volatility for affected stocks. Investors holding these securities should expect enhanced monitoring and potential trading restrictions based on GSM stage requirements.
Impact Justification
Routine surveillance measure affecting three securities with increased monitoring requirements