Description
Five securities are moving to different GSM (Graded Surveillance Measure) stages, including Jayatma Industries and Filmcity Media moving to Stage I, T Spiritual World to Stage II, and Shri Niwas Leasing and Alan Scott Enterprises to Stage III.
Summary
BSE has announced the movement of five securities into their respective Graded Surveillance Measure (GSM) stages effective January 29, 2026. Two securities are entering Stage I, one is moving to Stage II, and two are advancing to Stage III. GSM framework applies enhanced surveillance and trading restrictions to securities exhibiting unusual price movements or trading patterns.
Key Points
- 5 securities are moving to different GSM stages
- Jayatma Industries Ltd (531323) - Moving to GSM Stage I
- Filmcity Media Ltd (531486) - Moving to GSM Stage I
- T Spiritual World Ltd (532444) - Moving to GSM Stage II
- Shri Niwas Leasing And Finance Ltd (538897) - Moving to GSM Stage III
- Alan Scott Enterprises Ltd (539115) - Moving to GSM Stage III
- Securities may move to lower GSM stages if included in ESM or IBC frameworks
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 |
Regulatory Changes
Securities in GSM framework are subject to:
- Stage I: 5% price band, additional surveillance disclosure requirements
- Stage II: 5% price band, 100% margin requirement, no intraday trading
- Stage III: 5% price band, 100% margin, no intraday trading, trade-for-trade settlement, periodic call auctions
Higher stages impose progressively stricter trading restrictions to curb excessive speculation and volatility.
Compliance Requirements
- Trading members must ensure compliance with applicable margin requirements for each GSM stage
- Investors should be aware of trading restrictions applicable to securities in different GSM stages
- Stage II and III securities require 100% upfront margin
- No intraday trading permitted for Stage II and III securities
Important Dates
- Effective Date: January 29, 2026
Impact Assessment
Trading Impact: Securities moving to higher GSM stages will face increased trading restrictions including margin requirements and settlement constraints. Stage III securities will have the most severe restrictions with trade-for-trade settlement and periodic call auctions only.
Liquidity Impact: Medium - Higher GSM stages typically result in reduced liquidity due to stricter trading conditions and margin requirements. Investors may find it more difficult to enter or exit positions.
Investor Impact: Investors holding these securities should be aware of enhanced surveillance measures and potential difficulty in trading. New investors should exercise caution when considering investment in GSM securities.
Impact Justification
GSM stage movements indicate increased surveillance due to price volatility or other concerns. Affects trading conditions for 5 securities with varying levels of restrictions based on stage.