Description

Two securities are moving into their respective GSM stages - Aarcon Facilities Limited to Stage I and Shashank Traders Limited to Stage II.

Summary

BSE has announced the movement of two securities into their respective Graded Surveillance Measure (GSM) stages. Aarcon Facilities Limited (Security Code: 532024, ISIN: INE056J01015) is moving to GSM Stage I, while Shashank Traders Limited (Security Code: 540221, ISIN: INE508R01018) is moving to GSM Stage II. The circular also notes that certain securities may move to lower GSM stages due to inclusion in ESM Framework or IBC Framework.

Key Points

  • Aarcon Facilities Limited (532024) moving to GSM Stage I
  • Shashank Traders Limited (540221) moving to GSM Stage II
  • Securities marked (#) move to lower GSM stages due to ESM Framework inclusion
  • Securities marked ($) move to lower GSM stages due to IBC Framework inclusion
  • Stage movements indicate increased surveillance and trading restrictions

Regulatory Changes

The GSM Framework is being applied to the identified securities based on surveillance parameters. GSM stages impose progressively stricter trading restrictions including price bands, trade-for-trade settlement, and additional surveillance measures to protect investor interests.

Compliance Requirements

  • Trading members must ensure compliance with applicable GSM stage restrictions
  • Investors should be aware of trading limitations on these securities
  • Additional disclosure requirements may apply for transactions in GSM securities
  • Price bands and trading restrictions specific to each GSM stage must be observed

Important Dates

  • Effective Date: February 4, 2026 (circular issuance date)
  • Stage movements typically effective from the next trading session

Impact Assessment

The movement of securities into GSM stages has significant implications for trading activity. Stage I placement for Aarcon Facilities introduces initial surveillance measures, while Stage II placement for Shashank Traders indicates more serious concerns with stricter restrictions. These measures typically result in reduced liquidity, wider bid-ask spreads, and heightened investor caution. The GSM framework aims to curb excessive speculation and protect investors from unusual price movements.

Impact Justification

GSM stage movements impose significant trading restrictions and surveillance on affected securities, directly impacting trading activity and investor behavior.