Description

Five securities moved to different GSM stages, with three companies entering Stage I and two entering Stage II surveillance measures.

Summary

BSE has updated the Graded Surveillance Measure (GSM) framework, moving five securities to different GSM stages. Three companies - Venlon Enterprises Ltd., SC Agrotech Limited, and Ace Engitech Limited - have been moved to GSM Stage I. Two companies - Noida Toll Bridge Company Ltd. and Nivaka Fashions Limited - have been moved to GSM Stage II.

Key Points

  • 5 securities moved to different GSM stages
  • 3 securities moved to GSM Stage I (stricter surveillance)
  • 2 securities moved to GSM Stage II (highest surveillance level)
  • Securities may move to lower GSM stages if included in ESM or IBC frameworks
  • Changes aligned with NSE framework where applicable

Regulatory Changes

Implementation of updated GSM stage classifications for the listed securities, involving enhanced surveillance and monitoring measures based on trading patterns and compliance parameters.

Compliance Requirements

  • Securities under GSM Stage I: Enhanced disclosure requirements and stricter price monitoring
  • Securities under GSM Stage II: Additional trading restrictions and increased compliance oversight
  • Listed companies must ensure compliance with applicable surveillance measures
  • Investors should be aware of additional risks associated with GSM securities

Important Dates

  • Effective Date: September 8, 2025
  • Circular Release Date: September 8, 2025

Impact Assessment

Trading Impact: Securities moved to higher GSM stages will face increased trading restrictions and enhanced monitoring. This may result in reduced liquidity and increased volatility for affected stocks.

Investor Impact: Investors holding these securities should exercise additional caution and monitor compliance developments closely. GSM classification indicates heightened risk factors.

Market Impact: Limited overall market impact as only 5 securities are affected, but demonstrates continued regulatory focus on surveillance and risk management.

Impact Justification

Regular surveillance measure updates affecting specific securities with trading implications