Securities Moving to Stage II of Graded Surveillance Measure
NSE circular 601/2026 · 07 Aug 2026
Official title
List of Securities moving to Stage II of Graded Surveillance Measure (GSM)
Official record
Open source pageSummary
Check the official recordWhat changed
The National Stock Exchange of India has announced that Ortel Communications Limited and Impex Ferro Tech Limited will be moved to Stage II of the Graded Surveillance Measure (GSM) framework effective August 10, 2026. Under Stage II, trading for these securities will be restricted to a 'Trade for Trade' basis. Additionally, a price band of 5% or lower will apply, and buyers are required to deposit an Additional Surveillance Deposit (ASD) equivalent to 50% of the trade value. NSE members are advised to exercise caution when trading these securities.
What you must do
- Buyers must deposit an Additional Surveillance Deposit (ASD) of 50% of the trade value.
- Members must exercise adequate precaution while trading in the specified securities.
Key dates
- Effective from
Document text
National Stock Exchange of India Limited Circular
| Department: SURVEILLANCE | |
|---|---|
| Download Ref No: NSE/SURV/75640 | Date: August 7, 2026 |
| Circular Ref. No: 601/2026 |
To All NSE Members
Sub: List of Securities moving to Stage II of Graded Surveillance Measure (GSM)
In continuation to Exchange circular(s) NSE/SURV/34262, NSE/SURV/38389, NSE/SURV/42790, NSE/SURV/59425, NSE/SURV/64066, NSE/SURV/74254 and NSE/SURV/ 74795, dated February 23, 2017, July 20, 2018, November 29, 2019, November 17, 2023, September 20, 2024, May 15, 2026 and June 19, 2026, respectively, members are hereby requested to note that the following securities shall be moved to Stage II of GSM with effect from August 10, 2026.
| Sr. No. | Symbol | Security Name | ISIN |
|---|---|---|---|
| 1 | ORTEL | Ortel Communications Limited | INE849L01019 |
| 2 | IMPEXFERRO | Impex Ferro Tech Limited* | INE691G01015 |
*Adding as per BSE
Trading in the above-mentioned securities shall be available in Trade for Trade with price band of 5% or lower as applicable and Additional Surveillance Deposit (ASD) of 50% of trade value to be deposited by buyers.
Members are requested to take adequate precaution while trading in the above securities.
Please refer Annexure for stage wise Surveillance actions as per GSM framework.
In case of any further queries, members might write to us on surveillance@nse.co.in.
For National Stock Exchange of India Limited
Sareesh Koroth Associate Vice President Surveillance
Annexure:
Stage wise Surveillance actions as per GSM framework
| Stage | Surveillance Actions |
|---|---|
| I | Applicable margin rate shall be 100% and price band of 5% or lower as applicable. |
| II | Trade for Trade with price band of 5% or lower as applicable and Additional Surveillance Deposit (ASD) of 50% of trade value to be deposited by buyers. |
| III | Trade for Trade with price band of 5% or lower as applicable and Trading permitted once a week (Every Monday / 1st trading day of the week) and ASD (100% of trade value) to be deposited by the buyers. |
| IV | Trade for Trade with price band of 5% or lower as applicable and Trading permitted once a week (Every Monday / 1st trading day of the week) and ASD (100% of trade value) to be deposited by the buyers with no upward movement. |
For more information on Graded Surveillance Measure please refer to our Frequently Asked Questions (FAQs) - https://www.nseindia.com/regulations/graded-surveillance-measure
Source details
- Source
- National Stock Exchange of India
- Type
- circular
- Published by source
- 07 Aug 2026
- Document number
- 601/2026
- Issuing division
- SURVEILLANCE
- Effective date
- 10 Aug 2026
- Coverage area
- securities