Description

Six securities have been moved to various GSM stages, with movements ranging from Stage II to Stage IV surveillance measures.

Summary

BSE has announced the movement of six securities into various stages of the Graded Surveillance Measure (GSM) framework. Four securities are moving to GSM Stage II, one to Stage III, and one to Stage IV, indicating escalating surveillance levels based on market behavior.

Key Points

  • Six securities are being placed under enhanced surveillance measures
  • Four companies moved to GSM Stage II: Venlon Enterprises, Ace Engitech, High Street Filatex, and White Organic Retail
  • One company moved to GSM Stage III: Sparkle Gold Rock
  • One company moved to GSM Stage IV: Harmony Capital Service
  • Securities may move to lower GSM stages if included in ESM or IBC frameworks

Regulatory Changes

Implementation of progressive surveillance stages under the GSM framework, with each stage imposing stricter trading conditions and monitoring requirements.

Compliance Requirements

  • Listed companies must comply with additional disclosure requirements under their respective GSM stages
  • Enhanced monitoring and reporting obligations for the affected securities
  • Stricter trading parameters and position limits may apply

Important Dates

  • Effective Date: September 9, 2025
  • Implementation of respective GSM stage requirements as per BSE guidelines

Impact Assessment

The GSM implementation will result in restricted trading conditions for the affected securities, potentially reducing liquidity and imposing additional compliance burden on the listed companies. Higher GSM stages indicate greater regulatory concern about price movements and trading patterns.

Impact Justification

Affects trading conditions for six securities with progressive surveillance measures