 "BSE to keep tabs on over 780 companies to check abnormal share price jumps")
As many as 781 companies have come under graded surveillance measures of BSE as it looks to keep a tab on unusual price movements that are not in tune with the financial fundamentals.
The enhanced surveillance measures have been introduced by the exchange to check any abnormal jump in share price which does not commensurate with the company's financial health.
Latest data available with the BSE shows that 781 companies have been put under GSM framework, while at the beginning of March, the number of such firms was 774.
The seven firms which have come under the ambit (post March 3) are Parmax Pharma, Ontic Finserve, Omnash Enterprises, Anugraha Jewellers, Oracle Credit, TPI India and Svarnim Trade Udyog.
Graded Surveillance Measures were put in place by BSE in addition to various other existing surveillance steps like categorisation of companies under XC/XD/XT sub-segments, periodic price bands, suspension of trading of companies due to surveillance concerns and the facility for companies for on-line filing of listing disclosures, among others.
The enhanced surveillance measures involve steps such as placing securities in trade to trade category, requiring the entities to put in additional surveillance deposit that can retained for an extended period and freezing of price on the upper side of trading in shares.