S_plus_Framework
Dear All,

Kindly note that Securities and Exchange Board of India (SEBI) and BSE Circulars 20170607-24 & 20170609-38 directive on enhanced market integrity and safe guard interest of customer have decided to implement additional surveillance measure called "S+ Framework" for enhanced monitoring of securities exclusively listed / traded on main board of BSE which are not a part of Graded Surveillance Measures (GSM) framework and witness an abnormal price rise which is not proportionate with the financial health and fundamentals of the company such as Earnings, Book value, Fixed assets, Net-worth, P/E Multiple, etc.

Securities under "S+ Framework" shall be placed in a separate group i.e. "SS" (Securities being settled on normal rolling basis) and "ST" (Securities being settled on trade to trade basis).

Additional surveillance actions would include the following measures at various stages:
Stage Surveillance actions Group
0
  • Imposition of Weekly and Monthly price bands in addition to existing daily, Quarterly and Yearly price bands.
  • Imposition of very high transaction charges i.e. 1% of transaction value shall be applicable to both buyer and seller.
 "SS" or "ST"
I
  • All existing actions including imposed under Stage 0.
  • Shifting to Trade to trade settlement mode.
 "ST"
II
  • All existing actions including imposed under Stage I.
  • Additional Surveillance Deposit of 200 % of Buy value applicable on buyer
  • ASD shall be released in the sixth month from the collection month i.e. minimum retention period of 3 months and will be released as per the given (circular- S+ Framework )
"ST"

The list of such securities identified under "S+ Framework" is available on website of the BSE and at Sharekhan.com

Kindly note that these securities shortlisted under "S+ framework" shall be moved to "SS or ST" group and action will be initiated w.e.f. June 14, 2017.

Clients dealing in identified securities as per the list available from time to time have to be extra cautious and diligent before dealing in the said securities and are requested to go through the applicable Exchange restrictions as specified in the surveillance action before executing the trade in the said securities.

In case of any violation, penalty would be levied by BSE and the same would be debited to the respective client's ledger.

Feel free to write to us at myaccount@sharekhan.com in case of any clarifications

Best,
Team Sharekhan
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