Description

BSE notification on securities moving into different GSM stages under the Graded Surveillance Measure framework, including Sanwaria Consumer Ltd and Adline Chem Lab Limited.

Summary

BSE has announced the movement of securities into their respective Graded Surveillance Measure (GSM) stages. Two securities are affected: Sanwaria Consumer Ltd is moving to GSM Stage I, and Adline Chem Lab Limited is moving to GSM Stage II. The circular includes notes about securities that may move to lower GSM stages due to inclusion in ESM or IBC frameworks.

Key Points

  • Sanwaria Consumer Ltd (Security Code: 519260, ISIN: INE890C01046) moving to GSM Stage I
  • Adline Chem Lab Limited (Security Code: 524604, ISIN: INE276T01018) moving to GSM Stage II
  • Securities marked (#) move to lower GSM stages due to inclusion in ESM Framework
  • Securities marked ($) move to lower GSM stages due to inclusion in IBC Framework
  • Sanwaria Consumer Ltd designation is as per NSE classification

Regulatory Changes

The GSM framework continues to be applied for market surveillance purposes. Securities are classified into different GSM stages based on specified criteria related to market behavior, volatility, and compliance parameters. Movement between stages triggers different levels of surveillance and trading restrictions.

Compliance Requirements

  • Market participants should note the GSM stage classification of these securities
  • Trading in these securities will be subject to GSM framework requirements applicable to their respective stages
  • Investors should be aware of the additional surveillance measures applicable to securities in GSM stages
  • Brokers and trading members must ensure compliance with GSM-related trading restrictions and disclosure requirements

Important Dates

  • Circular Date: February 5, 2026
  • Effective Date: As per GSM framework implementation schedule (typically next trading day)

Impact Assessment

The movement of securities into GSM stages indicates increased surveillance by the exchange due to specific market characteristics or compliance concerns. For Sanwaria Consumer Ltd moving to Stage I, this represents an initial level of enhanced oversight. Adline Chem Lab Limited’s movement to Stage II indicates a higher level of surveillance concern. These classifications may affect investor sentiment and trading activity in these securities. Market participants should exercise appropriate caution and conduct enhanced due diligence when trading in GSM-classified securities.

Impact Justification

Routine surveillance measure update affecting two securities. GSM stage changes impact trading conditions and investor awareness but are part of regular market oversight.