GSM stocks list: NSE and BSE, by stage

Every NSE and BSE stock under the Graded Surveillance Measure (GSM) today, grouped by stage, by symbol, company and exchange, from the exchanges' published lists, rewritten every weekday night. What GSM is and what each stage changes: What is GSM?

Where the list comes from

NSE publishes its list of securities shortlisted under GSM, stage by stage, on its GSM page, and BSE publishes its own. A security moves into GSM at the quarterly review and changes stage when the exchanges' criteria are met; changes are announced after market hours, typically one trading day before they take effect.

Understanding the list

• What is GSM? Who is shortlisted, what Stages I to IV change, and the deposit buyers pay.
• ASM vs ESM vs GSM: how the surveillance measures differ.
• The other lists: ESM stocks list and ASM stocks list.

How many stocks are under GSM today?

The count by stage and exchange is at the top of this page, from the exchanges' latest GSM lists, rewritten every weekday night. One row per stock and exchange: a stock listed on both counts twice.

Why are some BSE stocks at GSM Stage V or VI?

Before November 2019 the GSM framework had six stages. NSE moved to four; some BSE stocks are still listed at the older Stage V or VI.

Sources

• NSE: FAQs – Additional Surveillance Measure (ASM), last updated 20 September 2024: shortlisting criteria, long-term stages I–IV, short-term stages I–II, review and exit. It cites circulars NSE/SURV/52090 (22 April 2022, long-term ASM) and NSE/SURV/52144 (28 April 2022, short-term ASM).
• NSE: Additional Surveillance Measure (ASM): the framework's parameters and NSE's list of shortlisted securities.
• BSE: Additional Surveillance Measure (ASM) and BSE: FAQs on ASM: BSE's circulars, its long-term and short-term ASM lists, and its daily “Applicability of Additional Surveillance Measure” notices.
• NSE: FAQs – Graded Surveillance Measure (GSM), 15 April 2025: criteria, stages, reviews and the additional surveillance deposit.
• NSE: Graded Surveillance Measure (GSM): the current list of shortlisted securities, stage by stage.

Exchange circulars change. Where this page and the current circular differ, the circular applies.

Not investment advice. This page explains the exchanges' published rules for education only. It does not recommend buying, selling or holding any security. Inclusion, stage changes and exit are decided solely by NSE and BSE.