Hi All,
I have a question regarding the delivery of the stocks.Though I'm not sure whether this is the right place to post.
My broker(Reliance Money) delivers it to me after T+2 days means today + 2 days.Within this time if the stock behaves badly I cannot sell it off using the normal way.Is there any way in which I can sell the stock between these span?
The stock is visible in ATST projection.
Regards,
Maddy
Genrally, brokers having pool account will allow you to sell before t+2 settlement. Only after two working days the stock comes to your demat. That means, only after two working days the stock comes to your ownership. Meanwhile, there will be settlement process. This is the basic system followed by SEBI.
Some brokers like ICICI (i don't know about Reliance.sorry) have a list of BTST (Buy today sell tomorrow) stocks. If your stock comes under the list you can sell before you get it to your demat, otherwise you can not.
These corporate brokers generally have some restriction on this issue because, you may get a "bad delivery" of stocks you purchased. If so, the seller would be fined thru some standard procedure. If the stock you purchase becomes Bad delivery, there are two chances. 1. You may get them little late. 2. You may be compensated by cash. This is the regulatory system. If you have sold the stock which has not come to your hands, if it becomes bad delivery ( means the seller not able to give the shares for some reasons) then every action will be taken against you as you can not give delivery to the person who has bought from you.
Brokers having pool account could manage this problem.
If you think I have not made it clear, then just understand this.
Brokers like Reliance, ICICI, Kotak , the big brands have some restrictions.
Other brokers will have adjustable system which allow you to sell the next day. And beware of the fact that the "adjustable system" has negative sides too.
Cheers