Description

Three securities are moving to different GSM stages, with one company moving to Stage III under enhanced surveillance.

Summary

BSE has announced the movement of three securities into different stages of the Graded Surveillance Measure (GSM) framework. The securities are being moved to enhance monitoring and apply appropriate trading restrictions based on their risk profiles.

Key Points

  • Quadrant Televentures Limited moves to GSM Stage I
  • Sparkle Gold Rock Limited moves to GSM Stage II
  • Yaari Digital Integrated Services Ltd moves to GSM Stage III (as per NSE coordination)
  • Securities may move to lower GSM stages if included in ESM or IBC frameworks

Regulatory Changes

Implementation of staged surveillance measures with progressive trading restrictions based on GSM stage assignment.

Compliance Requirements

  • Trading members must ensure compliance with GSM stage-specific trading conditions
  • Enhanced due diligence requirements for transactions in GSM securities
  • Adherence to position limits and margin requirements as applicable to each GSM stage

Important Dates

  • Effective Date: September 4, 2025

Impact Assessment

The GSM stage movements will result in increased trading restrictions and margin requirements for the affected securities. Stage III classification for Yaari Digital represents the highest level of surveillance, potentially limiting trading activity and affecting liquidity. Investors should exercise increased caution when trading these securities.

Impact Justification

GSM stage movements affect trading conditions and investor confidence for specific securities