Dear sir,
I would like to know about auction procedure and process.
I had sold 200 shares of Company X at Rs.200/- on Monday, but I found that only 160 shares were there in my DP and accordingly I trfd. that on Tuesday to my DP and there was short delivery of 40 shares. Price of shares in market tumbled to Rs.180/- on Tuesday and to 160 on Wednesday and to Rs.140/- on Thursday. For 40 short delivery, I was informed by my DP that on Thursday there was auction in which he had to purchase the shares, but he debited my account @ 185/- .
I want to know whether this is right procedure or should I get benefit of market price falldown?. My broker informed later that there was no auction and he had made internal adjustment. What should I do in this situation.
Your valuable guidance will really help a small investor like me. In case you are not the person to answer this querry, please forward this on my behalf to the concerned person in your organization.
With regards
Ashok K.V.Shah
9830075312
I would like to know about auction procedure and process.
I had sold 200 shares of Company X at Rs.200/- on Monday, but I found that only 160 shares were there in my DP and accordingly I trfd. that on Tuesday to my DP and there was short delivery of 40 shares. Price of shares in market tumbled to Rs.180/- on Tuesday and to 160 on Wednesday and to Rs.140/- on Thursday. For 40 short delivery, I was informed by my DP that on Thursday there was auction in which he had to purchase the shares, but he debited my account @ 185/- .
I want to know whether this is right procedure or should I get benefit of market price falldown?. My broker informed later that there was no auction and he had made internal adjustment. What should I do in this situation.
Your valuable guidance will really help a small investor like me. In case you are not the person to answer this querry, please forward this on my behalf to the concerned person in your organization.
With regards
Ashok K.V.Shah
9830075312