Description

NSE announces periodic review results with 6 securities moving to lower GSM stages effective August 11, 2025.

Summary

NSE has conducted a periodic review of securities under Graded Surveillance Measure (GSM) framework in coordination with other exchanges. Six securities are eligible to move to lower stages of GSM, indicating reduced surveillance restrictions effective August 11, 2025.

Key Points

  • Periodic review of GSM securities completed in coordination with other exchanges
  • 6 securities will move to lower GSM stages from August 11, 2025
  • 5 securities moving from Stage II to Stage I (reduced surveillance)
  • 1 security (INFOMEDIA) moving from Stage IV to Stage III
  • LCC Infotech Limited also changing series from BE to EQ
  • Review based on GSM framework provisions for assessing relaxation eligibility

Regulatory Changes

No new regulatory changes introduced. This circular implements existing GSM framework provisions for periodic review and relaxation of surveillance measures.

Compliance Requirements

  • Members should note the reduced surveillance stages for affected securities
  • Trading in these securities will be subject to lower GSM stage requirements from effective date
  • Members can refer to GSM FAQs on NSE website for detailed framework understanding

Important Dates

  • Effective Date: August 11, 2025 - GSM stage reductions become effective
  • Circular Date: August 8, 2025

Impact Assessment

Positive impact for the 6 affected securities as they face reduced surveillance restrictions. This indicates improved market behavior and compliance, allowing for more normal trading conditions. The move to lower GSM stages typically results in reduced additional margin requirements and other surveillance-related restrictions.

Impact Justification

Positive development for affected securities as surveillance restrictions are reduced