Stocks on Surveillance in July 2026: ESM, ASM & GSM

To protect investor interests and maintain fair market activity, SEBI and stock exchanges continue to place select securities under enhanced surveillance frameworks for the month of July.

These measures are aimed at controlling excessive price volatility, reducing speculative trading activity, and encouraging greater caution among investors.

Depending on the applicable surveillance category, restrictions may include tighter price bands, trade-to-trade settlement, periodic call auctions, weekly trading windows, and higher margin requirements.

Enhanced Surveillance Measure (ESM) – Stage II

Under ESM Stage II, trading is permitted only in the Trade-to-Trade (T2T) segment. Daily price movement is restricted to a 2% band. Trades are executed only through Periodic Call Auctions on each trading day.

Graded Surveillance Measure (GSM) – Stage III

Under GSM Stage III, trading is permitted only once a week, generally on Monday or the first trading session of the week. Buyers are also required to deposit an Additional Surveillance Deposit (ASD) of 100% of the trade value.

Additional Surveillance Measure (ASM) – IBC Framework

The ASM-IBC framework applies to companies undergoing proceedings under the Insolvency and Bankruptcy Code. Trading in such securities is restricted to weekly sessions, usually on Mondays or the first trading day of the week.

Investors are advised to carefully review the applicable surveillance restrictions before placing trades in such securities.