Graded Surveillance Measure Graded Surveillance Measure (GSM)
An exchange surveillance framework for fundamentally weak or illiquid stocks with escalating restrictions. fundamentally कमज़ोर या illiquid stocks के लिए एक्सचेंज का surveillance framework जिसमें बढ़ती पाबंदियाँ लगती हैं।
Graded Surveillance Measure (GSM) applies to stocks whose market price is not supported by fundamentals — typically low-book-value, low-revenue, or very illiquid small-caps showing unusual price rises. Stocks are placed into grades (I through VI) with progressively stricter restrictions: higher margins, trade-to-trade settlement, longer cooling-off periods, and eventually trade only once a week. The framework protects retail investors from pump-and-dump manipulation. Promoter and company background checks inform inclusion and exit decisions by the exchanges.
Graded Surveillance Measure (GSM) उन stocks पर लागू होता है जिनका बाज़ार भाव fundamentals से मेल नहीं खाता — आमतौर पर low book value, low revenue, या बेहद illiquid small-caps जो असामान्य price rise दिखा रहे हों। stocks को grades (I से VI तक) में रखा जाता है जिनमें क्रमशः सख्त restrictions लगती हैं: ज़्यादा margins, trade-to-trade settlement, लंबे cooling-off periods, और अंततः हफ़्ते में एक बार trading। यह framework retail investors को pump-and-dump manipulation से बचाता है। promoter और कंपनी के background checks के आधार पर एक्सचेंज inclusion और exit के फ़ैसले लेते हैं।