Surveillance Actions – December 2025

To protect investors and maintain orderly trading, SEBI and stock exchanges impose additional surveillance measures on select scrips. These include tighter price bands, trade-to-trade settlement, weekly trading, call auction mechanisms, and additional margins.

Key Surveillance Frameworks

Enhanced Surveillance Measure (ESM) – Stage II

• Trading permitted only in Trade-to-Trade (T2T) category.

• A strict 2% daily price band applies.

• All trades are executed exclusively via Periodic Call Auctions, every trading day.

Graded Surveillance Measure (GSM) – Stage III

• Trading allowed once a week (Monday or the week’s first session).

• Buyers must deposit an Additional Surveillance Deposit (ASD) equal to 100% of the trade value.

Additional Surveillance Measure (ASM)

• For companies under Insolvency & Bankruptcy Code (IBC), trading is restricted to weekly sessions—only Mondays or the first trading day of the week.