Description
BSE announces movement of five securities into their respective GSM stages, ranging from Stage I to Stage IV, effective November 6, 2025.
Summary
BSE has announced the movement of five securities into their respective Graded Surveillance Measure (GSM) stages. The securities are moving into stages ranging from Stage I (least restrictive) to Stage IV (most restrictive), which will result in increased surveillance and trading restrictions for affected stocks.
Key Points
- Five securities are being moved to different GSM stages
- Apt Packaging Ltd. (506979) and Nirmitee Robotics India Limited (543194) moving to GSM Stage I
- SGN Telecoms Ltd. (531812) moving to GSM Stage II
- Harig Crankshafts Ltd. (500178) moving to GSM Stage III
- Eurotex Industries and Exports Ltd (521014) moving to GSM Stage IV (as per NSE)
- Securities marked with specific symbols may move to lower GSM stages due to inclusion in ESM or IBC frameworks
Affected Securities
| Security Code | ISIN | Security Name | GSM Stage |
|---|---|---|---|
| 506979 | INE046E01025 | Apt Packaging Ltd. | I |
| 543194 | INE0CPQ01010 | Nirmitee Robotics India Limited | I |
| 531812 | INE266C01023 | SGN Telecoms Ltd. | II |
| 500178 | INE905C01034 | Harig Crankshafts Ltd. | III |
| 521014 | INE022C01012 | Eurotex Industries and Exports Ltd | IV |
Regulatory Framework
The Graded Surveillance Measure (GSM) is a framework designed to:
- Enhance market integrity and investor protection
- Apply additional surveillance on securities exhibiting abnormal price movements
- Impose progressive restrictions based on the stage of surveillance
- Alert investors about securities under increased regulatory scrutiny
Trading Implications
- Stage I & II: Price bands, additional disclosure requirements, and periodic call auctions
- Stage III & IV: More stringent restrictions including 100% upfront margin requirements, no intraday trading, and mandatory delivery-based settlement
- Higher GSM stages indicate greater regulatory concern and stricter trading conditions
Important Dates
- Effective Date: November 6, 2025
Impact Assessment
Market Impact: Medium - The movement of these securities into GSM stages will reduce liquidity and increase trading costs for investors holding or trading these stocks. Higher margin requirements and delivery-based settlement obligations may discourage speculative trading.
Investor Impact: Existing investors should be aware of increased surveillance and may face restrictions on trading flexibility. New investors should exercise caution and understand the reasons for GSM classification before investing in these securities.
Compliance Impact: Trading members and investors must comply with additional margin requirements and settlement obligations specific to each GSM stage.
Impact Justification
Affects five securities with increased surveillance measures that impact trading conditions and investor participation in these stocks