Graded surveillance measure

An Indian exchange framework, introduced in 2017, for shares whose price looks out of line with the company's financial health, judged on tests such as earnings, book value, net worth and the price-to-earnings ratio. It differs from the additional surveillance framework, which reacts mainly to price and volume.

A share placed under it moves through stages whose restrictions tighten as it goes, from trade-for-trade settlement in a narrow price band to a deposit on every purchase and trading allowed only once a week.

Placement is a strong signal, because the tests behind it are about the company. A company with negligible revenue whose market value has multiplied in a year is the profile it was built to catch, and exiting a position at a late stage can take weeks.

Check the stage before the chart.