Description
Seven securities have been moved to different stages of GSM framework, with six moving to Stage II and one to Stage III, effective from the trading date.
Summary
BSE has announced the movement of seven securities into different stages of the Graded Surveillance Measure (GSM) framework. Six securities - Softbpo Global Services Ltd., Iykot Hitech Toolroom Ltd., Avi Products India Limited, Charms Industries Ltd., Boston Bio Systems Ltd., and Hari Govind International Ltd. - have been moved to GSM Stage II. One security, Nikki Global Finance Ltd., has been moved to GSM Stage III, indicating a higher level of surveillance.
Key Points
- Total of 7 securities affected by GSM stage changes
- 6 securities moved to GSM Stage II
- 1 security moved to GSM Stage III (higher surveillance)
- Securities marked with (#) may move to lower GSM stages due to inclusion in ESM Framework
- Securities marked with ($) may move to lower GSM stages due to inclusion in IBC Framework
Securities Moving to GSM Stage II
| Security Code | ISIN | Security Name |
|---|---|---|
| 504375 | INE459E01012 | Softbpo Global Services Ltd. |
| 522245 | INE079L01013 | Iykot Hitech Toolroom Ltd. |
| 523896 | INE316O01021 | Avi Products India Limited |
| 531327 | INE442C01012 | Charms Industries Ltd. |
| 531458 | INE109B01019 | Boston Bio Systems Ltd. |
| 531971 | INE167F01018 | Hari Govind International Ltd. |
Securities Moving to GSM Stage III
| Security Code | ISIN | Security Name |
|---|---|---|
| 531272 | INE526C01012 | Nikki Global Finance Ltd. |
Regulatory Changes
The GSM framework is a surveillance mechanism implemented by stock exchanges to monitor securities exhibiting abnormal price movements or volatility. Movement to higher stages results in additional compliance requirements and trading restrictions.
Compliance Requirements
- Enhanced disclosure obligations for listed companies in GSM
- Additional surveillance by exchange on trading patterns
- Potential restrictions on trading including reduced price bands or trade-for-trade settlement
- Investors should exercise caution when trading in securities under GSM
Important Dates
- Effective Date: As per the circular dated January 22, 2026
Impact Assessment
The movement of securities into higher GSM stages indicates that these stocks have exhibited characteristics warranting increased surveillance, such as unusual price volatility or sharp movements. For investors, this means:
- Reduced liquidity due to potential trading restrictions
- Heightened risk perception
- Possible requirement for higher margins
- Securities may be subject to trade-for-trade settlement or reduced price bands depending on GSM stage
Investors holding or considering these securities should be aware of the increased surveillance and associated trading restrictions. The movement to Stage III for Nikki Global Finance Ltd. represents a particularly elevated level of concern.
Impact Justification
Movement of securities into higher GSM stages indicates heightened surveillance due to price volatility or other concerns. This affects trading activity and investor decisions for the specific securities listed.