Description

BSE circular detailing securities moving into their respective GSM stages, including three securities to Stage I and one to Stage III.

Summary

BSE has announced the movement of four securities into their respective Graded Surveillance Measure (GSM) stages effective January 5, 2026. Three securities are moving to GSM Stage I while one security is advancing to GSM Stage III, indicating increased surveillance requirements.

Key Points

  • Four securities affected by GSM stage changes
  • Three companies moving to GSM Stage I: Rajasthan Tube Manufacturing Company Ltd, ANS Industries Ltd, and Karnawati Innovation Ltd
  • One company moving to GSM Stage III: Inland Printers Ltd
  • Securities marked with (#) move to lower GSM stages due to ESM Framework inclusion
  • Securities marked with ($) move to lower GSM stages due to IBC Framework inclusion

Details of Affected Securities

Moving to GSM Stage I

  1. Rajasthan Tube Manufacturing Company Ltd (Security Code: 530253, ISIN: INE497E01020)
  2. ANS Industries Ltd (Security Code: 531406, ISIN: INE234J01018)
  3. Karnawati Innovation Ltd (Security Code: 531671, ISIN: INE214D01021)

Moving to GSM Stage III

  1. Inland Printers Ltd (Security Code: 530787, ISIN: INE055O01033)

Regulatory Framework

The Graded Surveillance Measure (GSM) is a framework implemented by BSE to enhance market integrity and investor protection by subjecting certain securities to additional surveillance based on specific criteria. Higher GSM stages indicate increased surveillance requirements and may involve trading restrictions.

Impact Assessment

Trading Impact: Securities in higher GSM stages face additional trading restrictions including price bands, increased margins, and periodic call auctions, which may affect liquidity and investor participation.

Investor Impact: Investors holding these securities should be aware of the enhanced surveillance measures and potential trading limitations that apply to their holdings.

Market Impact: Limited market-wide impact as only four specific securities are affected, though this demonstrates ongoing regulatory oversight of market quality.

Impact Justification

Affects four securities with varying GSM stage movements, impacting trading conditions for these stocks but limited to specific companies rather than market-wide changes