Description
Five securities are being moved to different GSM stages under the Graded Surveillance Measure framework, with companies moving to stages I, II, and III based on surveillance criteria.
Summary
BSE has announced the movement of five securities into various stages of the Graded Surveillance Measure (GSM) framework. Two securities are moving to Stage I, one to Stage II, and two to Stage III, effective from the specified date.
Key Points
- Jayatma Industries Ltd (531323) and Filmcity Media Ltd (531486) moved to GSM Stage I
- T Spiritual World Ltd (532444) moved to GSM Stage II
- Shri Niwas Leasing And Finance Ltd (538897) and Alan Scott Enterprises Ltd (539115) moved to GSM Stage III
- Securities marked with (#) can move to lower GSM stages if included in ESM Framework
- Securities marked with ($) can move to lower GSM stages if included in IBC Framework
Regulatory Changes
The GSM framework applies progressive surveillance stages to securities based on specific criteria. Higher stages typically involve stricter trading restrictions, additional disclosure requirements, and enhanced monitoring to protect investor interests.
Compliance Requirements
- Market participants must be aware of the GSM stage applicable to these securities
- Trading in these securities will be subject to stage-specific restrictions
- Investors should exercise additional caution when trading in GSM securities
- Brokers and trading members must ensure compliance with GSM-specific requirements
Important Dates
- Circular Date: January 29, 2026
- Effective Date: As per exchange notification
Impact Assessment
Trading Impact: Securities in higher GSM stages face increased surveillance and potential trading restrictions including price bands, trade-for-trade settlement, and periodic call auctions.
Investor Impact: Investors holding or trading these securities should be aware of enhanced risk factors and potential liquidity constraints associated with GSM securities.
Market Impact: Limited impact on overall market operations as only five securities are affected. However, shareholders of these specific companies may experience reduced trading flexibility.
Securities Details
| Security Code | ISIN | Security Name | GSM Stage |
|---|---|---|---|
| 531323 | INE250D01017 | Jayatma Industries Ltd | I |
| 531486 | INE600B01033 | Filmcity Media Ltd | I |
| 532444 | INE541C01037 | T Spiritual World Ltd | II |
| 538897 | INE201F01015 | Shri Niwas Leasing And Finance Ltd | III |
| 539115 | INE273F01022 | Alan Scott Enterprises Ltd | III |
Impact Justification
Affects trading in five securities with enhanced surveillance measures. GSM stages impose progressive restrictions on trading activities to protect investors.