Description

BSE announces movement of four securities into various stages of the Graded Surveillance Measure framework effective February 1, 2026.

Summary

BSE has announced the movement of four securities into various stages of the Graded Surveillance Measure (GSM) framework. Carnation Industries Ltd. moves to GSM Stage I, Filmcity Media Ltd. to Stage II, while SJ Corporation Ltd. and Nagarjuna Agri Tech Ltd. move to Stage III. The GSM framework is designed to alert investors about securities that have witnessed abnormal price movements.

Key Points

  • Carnation Industries Ltd. (Security Code: 530609, ISIN: INE081B01028) moved to GSM Stage I
  • Filmcity Media Ltd. (Security Code: 531486, ISIN: INE600B01033) moved to GSM Stage II
  • SJ Corporation Ltd. (Security Code: 504398, ISIN: INE312B01027) moved to GSM Stage III
  • Nagarjuna Agri Tech Ltd. (Security Code: 531832, ISIN: INE793H01017) moved to GSM Stage III
  • Securities may move to lower GSM stages if included in ESM (Enhanced Surveillance Measure) or IBC (Insolvency and Bankruptcy Code) frameworks

Regulatory Changes

The placement of securities in higher GSM stages indicates enhanced surveillance and may result in:

  • Additional disclosure requirements for trades
  • Price bands or trading restrictions
  • Increased margin requirements for investors
  • Periodic review for continued listing

Compliance Requirements

  • Investors trading in these securities should be aware of the GSM classification
  • Brokers must ensure compliance with applicable trading restrictions and margin requirements for GSM securities
  • Listed companies should maintain transparency and comply with disclosure norms to potentially move to lower GSM stages

Important Dates

  • Effective Date: February 1, 2026

Impact Assessment

The movement of these securities into GSM stages serves as a cautionary signal to investors about potential volatility or irregularities. Higher GSM stages typically result in reduced liquidity due to stricter trading conditions and higher margins. Investors holding these securities may face increased costs and trading restrictions. The measure aims to protect market integrity and investor interests by flagging securities with abnormal price movements or other concerns.

Impact Justification

Affects four securities with increased surveillance measures which may impact trading activity and investor sentiment for these stocks