Description

BSE announces movement of 10 securities across GSM Stages I to IV under the Graded Surveillance Measure framework, with 3 securities moving to Stage I, 3 to Stage II, 1 to Stage III, and 3 to Stage IV.

Summary

BSE has announced the movement of 10 securities into different stages of the Graded Surveillance Measure (GSM) framework. The GSM is a multi-stage framework designed to alert investors about securities exhibiting abnormal price movements or other risk parameters. Three securities are moving to Stage I (SC Agrotech Ltd, Panabyte Technologies Ltd, Decillion Finance Ltd), three to Stage II (Jainex Aamcol Ltd, Adhata Global Ltd, B.C. Power Controls Ltd), one to Stage III (JPT Securities Ltd), and three to Stage IV (Shree Manufacturing Company Ltd, ACE Edutrend Ltd, Rap Corp Ltd).

Key Points

  • 10 securities are being moved to different GSM stages effective immediately
  • Stage I: SC Agrotech Ltd (526081), Panabyte Technologies Ltd (538742), Decillion Finance Ltd (539190)
  • Stage II: Jainex Aamcol Ltd (505212), Adhata Global Ltd (531286), B.C. Power Controls Ltd (537766)
  • Stage III: JPT Securities Ltd (530985)
  • Stage IV: Shree Manufacturing Company Ltd (503863), ACE Edutrend Ltd (530093), Rap Corp Ltd (531583)
  • Securities may move to lower GSM stages if included in ESM or IBC frameworks
  • Higher GSM stages typically involve stricter surveillance measures and trading restrictions

Regulatory Changes

No new regulatory framework changes. This circular implements the existing GSM framework by moving specific securities to appropriate surveillance stages based on their risk parameters and market behavior.

Compliance Requirements

  • Market participants should note the GSM stage classification of these securities
  • Investors should exercise increased caution when trading securities under higher GSM stages
  • Additional margin requirements and trading restrictions may apply based on GSM stage
  • Brokers must ensure clients are aware of the surveillance status of these securities

Important Dates

  • Effective Date: November 18, 2025 (circular date)

Impact Assessment

Trading Impact: Securities moving to higher GSM stages will face increased trading restrictions, higher margin requirements, and potentially reduced liquidity. Stage IV securities face the most stringent surveillance measures.

Investor Impact: Investors holding these securities should be aware of increased volatility risks and potential trading limitations. Higher GSM stages signal regulatory concerns about price manipulation, poor fundamentals, or other risk factors.

Market Impact: Limited broader market impact as only 10 securities are affected. However, this demonstrates BSE’s active surveillance and risk management framework to protect investor interests.

Impact Justification

Affects 10 securities with varying degrees of surveillance restrictions. Movement to higher GSM stages indicates increased regulatory scrutiny and trading limitations, impacting investors holding these stocks.