NSE Close out ???

N

nitinku5021a

Member
#1
#1
Hi,

I purchased Noida Toll Bridge shares @ 31.xx through ICICI Direct. The order got executed and i received the cotract note also. But after 6-7 days when i tried to sell it, the shares was not thr in my Demat Allocation.

And on the same i received some amount to my bank acc. with desc. like "NSE Close out". and after 2 days i got a message in my demat account that due to NSE close out the Shares couldn't be delivered and the amount has been deposited to my bank account.

the amount i got back was @ 33.xx rate for each share.

What i understood that due to seller side fault the share i couldn't get but even then if thats the case I think i shud have got atleast 20% more than my purchase price....m i correct here?

Please enlighten me.

nitin
 
I

ivanboesky

Active Member
#3
#3
From the NSE site: "All shortages not bought-in are deemed closed out at the highest price between the first day of the trading period till the day of squaring off or closing price on the auction day plus 20%, whichever is higher. This amount is credited to the receiving member's account on the auction pay-out day."

So the stock had gone down from the tme you bought it, so you got 20% more than the closing price on the auction day.
 
N

nitinku5021a

Member
#5
#5
ivanboesky said:
From the NSE site: "All shortages not bought-in are deemed closed out at the highest price between the first day of the trading period till the day of squaring off or closing price on the auction day plus 20%, whichever is higher. This amount is credited to the receiving member's account on the auction pay-out day."

So the stock had gone down from the tme you bought it, so you got 20% more than the closing price on the auction day.
Click to expand...
Hi,
I just verified all the data today. And i m wondering how the auction took place. I am providing the data..please tell me if i am wrong.

Purchase price : 29.15 Date: 4th Sep
with Brokerage: 29.91

from now onwards the share price never went down below 30.xx

Even if i take the 30 Rs is the auction day price, I should have got minimum 30+ 20% of 30 = 36 Rs. and thats the min. I shud get anyhow ...m i correct here?
But the ICICIDirect has given me 33.83. on 12th Sep.

seniors please help.

Nitin
 
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