Description
BSE announces securities moving into different stages of Graded Surveillance Measure framework, with Tamilnadu Telecommunications moving to Stage I and MSR India moving to Stage II.
Summary
BSE has announced the movement of two securities into their respective Graded Surveillance Measure (GSM) stages effective October 9, 2025. Tamilnadu Telecommunications Limited (Security Code: 523419, ISIN: INE141D01018) is moving to GSM Stage I, while MSR India Ltd. (Security Code: 508922, ISIN: INE331L01026) is moving to GSM Stage II. The GSM framework is designed to alert investors about securities exhibiting abnormal price movements or other risk indicators.
Key Points
- Two securities are being placed under enhanced surveillance measures
- Tamilnadu Telecommunications Limited moving to GSM Stage I
- MSR India Ltd. moving to GSM Stage II
- Securities marked with (#) move to lower GSM stages when included in ESM Framework
- Securities marked with ($) move to lower GSM stages when included in IBC Framework
- Alignment noted with NSE surveillance measures
Regulatory Changes
No new regulatory changes introduced. This circular implements existing GSM framework provisions for securities exhibiting characteristics warranting enhanced surveillance.
Compliance Requirements
- Investors should be aware of heightened surveillance status for these securities
- Trading members must ensure compliance with GSM framework requirements
- Enhanced disclosure and reporting obligations apply to these securities
- Stage-specific trading restrictions and additional margin requirements may apply
Important Dates
- Effective Date: October 9, 2025
- Surveillance stage changes applicable from this date
Impact Assessment
Market Impact: Medium - The placement of securities under GSM stages signals increased volatility or irregularities, potentially affecting investor sentiment and trading volumes in these specific stocks.
Investor Impact: Investors holding or trading these securities face additional scrutiny and potential trading restrictions. Higher margin requirements and reduced liquidity may apply depending on the GSM stage.
Operational Impact: Trading members must implement enhanced monitoring and compliance procedures for these securities, including potential additional margin collection and client disclosures.
Securities Details
| Security Code | ISIN | Security Name | GSM Stage |
|---|---|---|---|
| 523419 | INE141D01018 | Tamilnadu Telecommunications Limited | Stage I |
| 508922 | INE331L01026 | MSR India Ltd. | Stage II |
Impact Justification
Affects two securities with increased surveillance requirements under GSM framework, indicating elevated risk levels requiring investor attention