Strange email from sharekhan

pokrate · #1 15th August 2008, 06:23 PM

Respected members,
I have received this email from Sharekhan.

"We regret the inconvenience caused due to incorrect quantity mentioned in the earlier mailer. Request you to ignore the previous mailer and consider the below mentioned mail. We write to you in connection with your delivery entitlements for Settlement Number NSENR2008153 . We would like to inform you that the 15 shares of Vishal Information Tech.Ltd. have been received short at our end from the Exchange. We are expecting deliveries or close out in respect of your entitlement in the next 1 or 2 days time after the Auction. We would be crediting the same on receipt from the Exchange after Auction Pay-Out. You can view the same in your cash/DP account in a couple of days time."

I bought 15 shares of Vishal Information Tech.Ltd. on 12th August 2008, and sold them on 13th August 2008. Now what message is all about ?

vpsarathy · #2 15th August 2008, 07:36 PM

Quote:

Originally Posted by pokrate

Respected members,
I have received this email from Sharekhan.

"We regret the inconvenience caused due to incorrect quantity mentioned in the earlier mailer. Request you to ignore the previous mailer and consider the below mentioned mail. We write to you in connection with your delivery entitlements for Settlement Number NSENR2008153 . We would like to inform you that the 15 shares of Vishal Information Tech.Ltd. have been received short at our end from the Exchange. We are expecting deliveries or close out in respect of your entitlement in the next 1 or 2 days time after the Auction. We would be crediting the same on receipt from the Exchange after Auction Pay-Out. You can view the same in your cash/DP account in a couple of days time."

I bought 15 shares of Vishal Information Tech.Ltd. on 12th August 2008, and sold them on 13th August 2008. Now what message is all about ?

Donot sell on the next day. If u buy on Monday the shares will appear in your DP account only on thursday morning. It is always better check your DP balance beore selling. Normally there is no problem but in cases like yours, the shares you purchased have not been delivered and there is a chance of your sale also going for auction and penalties.
vps

suba_stocks · #3 17th August 2008, 09:27 PM

Quote:

Originally Posted by pokrate

Respected members,
I have received this email from Sharekhan.

"We regret the inconvenience caused due to incorrect quantity mentioned in the earlier mailer. Request you to ignore the previous mailer and consider the below mentioned mail. We write to you in connection with your delivery entitlements for Settlement Number NSENR2008153 . We would like to inform you that the 15 shares of Vishal Information Tech.Ltd. have been received short at our end from the Exchange. We are expecting deliveries or close out in respect of your entitlement in the next 1 or 2 days time after the Auction. We would be crediting the same on receipt from the Exchange after Auction Pay-Out. You can view the same in your cash/DP account in a couple of days time."

I bought 15 shares of Vishal Information Tech.Ltd. on 12th August 2008, and sold them on 13th August 2008. Now what message is all about ?

when you buy shares ...you are not allowed to sell next day or day after...wait and look into your dp account..if you find them there then you sell ...other wise you will be made to pay hefty fine.

when you buy you can sell same day...or only after you find them in your dp normally it takes 3days...so if you buy monday..u will see them in your dp on thursday...that day you can sell.

columbus · #4 17th August 2008, 10:10 PM

Quote:

Originally Posted by suba_stocks

when you buy shares ...you are not allowed to sell next day or day after...wait and look into your dp account..if you find them there then you sell ...other wise you will be made to pay hefty fine.

when you buy you can sell same day...or only after you find them in your dp normally it takes 3days...so if you buy monday..u will see them in your dp on thursday...that day you can sell.

That means you can not trades shares INTRADAY????

There is another problem with SHAREKHAN ,the quotes are refreshed VERY LATE, which I mentioned in this forum earlier.

rmike · #5 17th August 2008, 10:39 PM

Quote:

Originally Posted by columbus

That means you can not trades shares INTRADAY????

There is another problem with SHAREKHAN ,the quotes are refreshed VERY LATE, which I mentioned in this forum earlier.

Dear Columbus,

You can trade shares intrady if bought with intraday option. However once the shares have been transacted with the delivery option or intraday shares moved to the delivery, it is always wise to trade those shares only after they appear in your DP account.

Regards,

learn2trade08 · #6 17th August 2008, 10:45 PM

i trade cash with sharekhan never had a issue for intraday....i think the problem is the company vishal xyz,probably belongs to xyz category in nse/bse..remember some categories are meant for deliveries only.Please forgive my ignorance as i do not know the difference between various categories in nse,hence i just trade with futures or some highly liquid cash scripts like gujnrecoke/dish etc,etc...
all the best

Quote:

Originally Posted by rmike

Dear Columbus,

You can trade shares intrady if bought with intraday option. However once the shares have been transacted with the delivery option or intraday shares moved to the delivery, it is always wise to trade those shares only after they appear in your DP account.

Regards,

learn2trade08 · #7 17th August 2008, 10:47 PM

yup,another thing about sski,they disconnect you like 5 times in an hour.

all the best
however i have never had major issues apart from getting disconnected.transaction wise and custoner service wise they are good.

Quote:

Originally Posted by rmike

Dear Columbus,

You can trade shares intrady if bought with intraday option. However once the shares have been transacted with the delivery option or intraday shares moved to the delivery, it is always wise to trade those shares only after they appear in your DP account.

Regards,

columbus · #8 17th August 2008, 11:02 PM

Quote:

Originally Posted by rmike

You can trade shares intrady if bought with intraday option. However once the shares have been transacted with the delivery option or intraday shares moved to the delivery, it is always wise to trade those shares only after they appear in your DP account.

In sharkhan there is no provision to choose shares for Intraday/Delivery.If shares are not squared off within the day ,then they are meant AUTOMATICALLY for delivery only. In that case ,one can sell the shares ONLY if they appear in your DP account. In some cases (like this) it so happens that even if the shares are bought , due to BAD DELIVERY ,the exchange may not be in a position to deliver the stock ,in that case the broker will return the money back.You will be lucky if the share value goes down and unlucky it goes up.I rarely trade in shares.

The Following 2 Users Say Thank You to vpsarathy For This Useful Post:
casoni (16th August 2008), learn2trade08 (15th August 2008)