Big problem in sharekhan

biyasc · #1 7th February 2008, 07:37 PM

i am using sharekhan from the year of 2004. but from the last 5-6 months i am facing some problems. i often place stop loss buy orders to enter in market. but sometimes i cant modify/cancell these orders. the status of the order/s always shows as pending. in that case i always make a call to their customer care. but they are also unable to modify/cancell those orders. even they are unable to understand that my order has been executed or not. on the next day i get those shares in my pool a/c & i must have to sell in loss/profit.

just assume that i placed a sl buy order of 100 tcs shares, which cost around 1 lac. my sl buy order triggered

& the stock crashed by 20% on the same day. but my sl buy order is still showing pending & i am unable to place a sl sell order. what a situation.

i would like to know some more details about this problem. looking for your valuable reply/s.

sharekingg · #2 7th February 2008, 07:54 PM

hey can u please help me . I am also using share khan but when i get there statement i see some "Min dlv charge" in that wat the hell is that ? they do charge brokerage for delivery but wat is this additional one .

Raju · #3 7th February 2008, 10:09 PM

I am also using sharekhan for last 1.5 yrs and I am facing problem with their Digital Contract Notes..The brokerage (intraday/delivery) have been increased..I have reported many times but nothing happened.
Guys Beware..Please check the Contract NOTES on daily basis..whatevr brokerage was offered or is it increased...

Raju · #4 7th February 2008, 10:10 PM

Sharekhan has added 45000 customers in a months time...So their servers have started facing problem..and orders also get stuck....Pending FOR some time ..

AmoghG · #5 9th February 2008, 01:25 PM

Ever since Citibank has bought a stake in Sharekhan, they have started treating customers like ****.

doctorrahul · #6 9th February 2008, 09:55 PM

hi friends,

Let me tell you one thing from my personal experience.

in sharekhan, TRADE ONLY IN NSE AND NOT BSE.
This is especially for day traders who want to square off their position before the last bell at 3.30.
and DO NOT PUT MARKET ORDERS. PUT ONLY LIMIT ORDERS.
SHAREKHAN STILL DOES NOT HAVE FULL SUPPORT FOR BSE TRADES AND MAY SHOW YOUR ORDERS PENDING AND WILL NOT EXECUTE THE ORDERS.
FOR DELIVERY TRADES, ITS OKAY IF YOU PUT ORDERS ON BSE.

Thanks.

rajaram.dilipkumar · #7 10th February 2008, 12:33 AM

Quote:

Originally Posted by biyasc

i am using sharekhan from the year of 2004. but from the last 5-6 months i am facing some problems. i often place stop loss buy orders to enter in market. but sometimes i cant modify/cancell these orders. the status of the order/s always shows as pending. in that case i always make a call to their customer care. but they are also unable to modify/cancell those orders. even they are unable to understand that my order has been executed or not. on the next day i get those shares in my pool a/c & i must have to sell in loss/profit.

just assume that i placed a sl buy order of 100 tcs shares, which cost around 1 lac. my sl buy order triggered

& the stock crashed by 20% on the same day. but my sl buy order is still showing pending & i am unable to place a sl sell order. what a situation.

i would like to know some more details about this problem. looking for your valuable reply/s.

Even i hold a sharekhan account and i had a different problem altogether... i sold my holdings on jan 15th which i bought on jan 11th but was surprised to see all these scrips again back in my account on jan 21st ( the day on which the crash happened ) .Then i probed my trading account only to find that these stocks have actually come back in to my account after auction process . I was in total shock and headed straight to their office .. The manager told me that only T + 2 the stocks will be credited in my account ( which i already knew ) and i asked him to check when i bought and when i sold.. after checking my account he told me t + 2 in the evening the shares will be credited if not whatever shares i sold will go thru auction.
I kept insisting that crediting the shares in time was the problem of sharekhan and not my problem hence i shouldnt get penalised ( as i was speaking the shares i sold on 15th were already quoting ,and still are quoting ,at significant discount from where i sold)...Since the manager was adamant i reported the problem to NSE and iam yet to get a resolution . If NSE doesnt resolve then i will take it to SEBI...
Every friend that i come across has one problem or the other to report about brokers like i-direct selling shares pledged by their clients , share delivery issues in india bulls , auctions in religare , margin lending norms getting changed every day by most brokers etc. ...its high time these people perform their job with some responsibility else they will face the music ..

Raju · #8 10th February 2008, 07:01 AM

One more thing u must carefully observe abt sharehan.Please read the contractnotes every day as at some point the brokerage charged will surely differ .I have had real experience ..
Take Care..

hari09omkar · #9 10th February 2008, 10:39 AM

Quote:

Originally Posted by Raju

One more thing u must carefully observe abt sharehan.Please read the contractnotes every day as at some point the brokerage charged will surely differ .I have had real experience ..
Take Care..

That's right.I contacted them in this regard earlier.The answers weren't satisfactory all the time.They have one trick: if u trade a stock which is non-fno stock,and priced below 100 rs,then for intraday they will charge 5 paisa per share and for delivery 25 paisa per share (in the prepaid scheme of 6000/-) and not 0.5% and 0.25%,which will make a good amount of difference sometimes.So be aware of these too.

ww_apurva · #10 10th February 2008, 12:08 PM

I recently am faced in a big problem. Around 5-6 months back, i opened a account with ShareKhan. Had given details of a Bank to Them (Bank wont disclose - say abcd bank) Now I also have a account in efgh bank.
On 24th Jan 2008, I transferred an amount from efgh bank via NetBanking, which took place successfully.

Thus, on 28th Jan 2008, I again transferred an equal amount from efgh bank, but the transfer did not happen

Hoping that the transfer would get completed by next day, I purchased 2 RIL shares at 2630.6 Rs.

I was trying to get in touch almost everyday with ShareKhan ppl, but of no use.

The amount has still not been deposited in my sharekhan account and now My balance went into negative value.

Now yesterday, i.e. 9/2/08, they sold off my RIL Shares, without my consent to cover up the negative amount, with the current Valuation, I went in a loss of 500 rs. This is too much frustating.

They didnt complete the transaction, nor answering to my Emails nor answering to calls at customer care and above all selling off my Shares and that too of RIL, without my consent and that too in loss......

When I called my Sales Exec of ShareKhan, regading this issue, he first of all said I cannot transact from efgh bank since it is not registered, whereas i did a successful transaction on 24th Jan. Again he said, ShareKhan will not not sell any share without my consent.......which they have already done...........

I am new person in this.....I donno what to do.....even my Cash is no where.......