Additional Surveillance Measures (ASM) and Graded Surveillance Measures (GSM) are taken by SEBI to safeguard the interest of investors and maintain market integrity. These measures help keep a tab on securities that witness an unnatural price rise that does not align with the financial health of the company such as earnings, book value, price-to-earnings ratio, etc.

The ASM and GSM scrip lists are not permanent and change from time to time depending on the market condition. Exchanges issue a list of scrips under various surveillances as short-term ASM, long-term ASM, GSM, IRP, SMS circulation stock, high pledge, and default.