To protect investors and maintain market integrity, the Graded Surveillance Measure (GSM) system was introduced by the Securities and Exchange Board of India (SEBI). This system plays a critical role in monitoring companies that display unusual stock price movements, which may suggest price manipulation or other unethical market practices.
In this blog, let’s explore the Graded Surveillance Measure (GSM) stocks list as of January 27, 2025.
SYMBOL | COMPANY NAME | GSM STAGE |
ALPSINDUS | Alps Industries Limited | IBC – Receipt & GSM 0 (62) |
ASIL | Amit Spinning Industries Limited | GSM – VI (6) |
ATNINTER | ATN International Limited | GSM – VI (6) |
BALKRISHNA | Balkrishna Paper Mills Limited | GSM – 0 (99) |
BURNPUR | Burnpur Cement Limited | GSM – 0 (99) |
CMICABLES | CMI Limited | IBC – Receipt & GSM 0 (62) |
COMPINFO | Compuage Infocom Limited | IBC I & GSM 0 (58) |
EDUCOMP | Educomp Solutions Limited | GSM – 0 (99) |
EMAMIREAL | Emami Realty Limited | GSM – III (3) |
EQUIPPP | Equippp Social Impact Technologies Limited | IBC – Receipt & GSM 0 (62) |
FCONSUMER | Future Consumer Limited | GSM – 0 (99) |
FEL | Future Enterprises Limited | IBC – Receipt & GSM 0 (62) |
FELDVR | Future Enterprises Limited | IBC – Receipt & GSM 0 (62) |
FLFL | Future Lifestyle Fashions Limited | IBC – Receipt & GSM 0 (62) |
FSC | Future Supply Chain Solutions Limited | IBC I & GSM 0 (58) |
GANGOTRI | Gangotri Textiles Limited | GSM – 0 (99) |
GAYAHWS | Gayatri Highways Limited | GSM – III (3) |
GAYAPROJ | Gayatri Projects Limited | GSM II & IBC – Receipt (64) |
GFSTEELS | Grand Foundry Limited | GSM – IV (4) |
GLFL | Gujarat Lease Financing Limited | GSM – 0 (99) |
GOLDENTOBC | Golden Tobacco Limited | IBC – Receipt & GSM 0 (62) |
HCL-INSYS | HCL Infosystems Limited | GSM – 0 (99) |
IL&FSTRANS | IL&FS Transportation Networks Limited | GSM – 0 (99) |
INFOMEDIA | Infomedia Press Limited | GSM – I (1) |
LAKPRE | Laxmi Precision Screws Limited | IBC I & GSM 0 (58) |
MEP | MEP Infrastructure Developers Limited | IBC – Receipt & GSM 0 (62) |
OMKARCHEM | Omkar Speciality Chemicals Limited | IBC I & GSM 0 (58) |
ORTEL | Ortel Communications Limited | IBC I & GSM 0 (58) |
ORTINGLOBE | ORTIN GLOBAL LIMITED | GSM – 0 (99) |
PREMIER | Premier Limited | IBC – Receipt & GSM 0 (62) |
QUINTEGRA | Quintegra Solutions Limited | GSM – 0 (99) |
RAJVIR | Rajvir Industries Limited | GSM – 0 (99) |
ROLTA | Rolta India Limited | IBC I & GSM 0 (58) |
ROML | Raj Oil Mills Limited | GSM – 0 (99) |
SADBHIN | Sadbhav Infrastructure Project Limited | High promoter/Non Promoter Encumbrance & GSM 0 (56) |
SANCO | Sanco Industries Limited | IBC – Receipt & GSM 0 (62) |
SECURKLOUD | SECUREKLOUD TECHNOLOGIES LIMITED | LTASM I & GSM 0 (50) |
SETUINFRA | Setubandhan Infrastructure Limited | GSM II & IBC – Receipt (64) |
SHRENIK | Shrenik Limited | GSM – 0 (99) |
SILLYMONKS | Silly Monks Entertainment Limited | GSM – I (1) |
TECILCHEM | TECIL Chemicals and Hydro Power Limited | GSM – 0 (99) |
TNTELE | Tamilnadu Telecommunication Limited | GSM – 0 (99) |
UMESLTD | Usha Martin Education & Solutions Limited | LTASM I & GSM 0 (50) |
UNIVAFOODS | Univa Foods Limited | GSM – IV (4) |
VISUINTL | Visu International Limited | GSM – VI (6) |
VIVIDHA | Visagar Polytex Limited | GSM – 0 (99) |
WILLAMAGOR | Williamson Magor & Company Limited | GSM – 0 (99) |
YAARI | Yaari Digital Integrated Services Limited | GSM – II (2) |
Note: The GSM stocks list here are taken from NSE as of January 27, 2025.
The GSM system assigns grades to companies based on their stock price behaviour. SEBI may step in if a company’s stock price rises unusually or shows potential manipulation. This is often done when a company’s stock shows extreme price swings without supporting financial data, which could indicate price manipulation or possible involvement in money laundering.
If SEBI detects suspicious price movements, it alerts the exchange. Companies whose stock prices appear manipulated are placed under surveillance. These companies are categorised in 6 stages, with increasing restrictions at each stage to prevent unethical trading practices.
The factors that affect a company’s inclusion in the GSM system include:
Based on these factors, SEBI assesses the risk and determines if a stock should be placed under surveillance.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 27, 2025, 9:34 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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