What is Scrip?

R

renu_1986

New Member
#1
#1
Dear Seniors
Few days back I have just start trading, and I do not know much about it.
I have my demat account with Axis Bank and Broker is Navia market.

As I am a beginner then for the sake of learning i have just purchased thee two share of Satyam at rs 275 (Total 500) and two DLF at rs 185 and then after 15 days I have sold both share (Satyam at 300 and DLF 210) Both transaction I have done using Online Interface as per my math, It was suppose to give me profit Rs 100.
but after few days back when I have seen my Axis Bank then I found Axis has deducted Rs 400 on the basis of Rs 100 for the selling and Buying of 1 Scrip.

Is this normal, what is the definition of 1 Scrip, does it mean purchasing of share for company in one day.
I mean if I will purchase 1 share of 10 different company and the price of each share is Rs 10. does it mean I have created 10 Scrip and i have to pay Rs 1000 to Axis bank and rs 100 for 10 share.
then how people make the profit from Share market even I heard they used to say they have sold their share even at the 50 paisa profit (Just in case of Ispat)

I will really appreciate if some one can teach me the correct way of trading, I think I am making mistake while doing trading, please teach me the correct way
Thanks in advance
Renu
 
T

the tape

Well-Known Member
#2
#2
renu_1986 said:
Dear Seniors
Few days back I have just start trading, and I do not know much about it.
I have my demat account with Axis Bank and Broker is Navia market.

As I am a beginner then for the sake of learning i have just purchased thee two share of Satyam at rs 275 (Total 500) and two DLF at rs 185 and then after 15 days I have sold both share (Satyam at 300 and DLF 210) Both transaction I have done using Online Interface as per my math, It was suppose to give me profit Rs 100.
but after few days back when I have seen my Axis Bank then I found Axis has deducted Rs 400 on the basis of Rs 100 for the selling and Buying of 1 Scrip.

Is this normal, what is the definition of 1 Scrip, does it mean purchasing of share for company in one day.
I mean if I will purchase 1 share of 10 different company and the price of each share is Rs 10. does it mean I have created 10 Scrip and i have to pay Rs 1000 to Axis bank and rs 100 for 10 share.
then how people make the profit from Share market even I heard they used to say they have sold their share even at the 50 paisa profit (Just in case of Ispat)

I will really appreciate if some one can teach me the correct way of trading, I think I am making mistake while doing trading, please teach me the correct way
Thanks in advance
Renu
Click to expand...
Your broker's a crook ! sue him

The average brokerage charged in market ryt now is 3 paisa for intraday and 30 paisa for delivery ( your case ). Talk to your broker if they have charged u some other charges as your acc is new.
 
R

renu_1986

New Member
#3
#3
Thanks for your reply,
As i am a NRI customer, I came to know that Axis Bank charge Rs 100 for 1 transaction plus service Tax regrdaless number of shares.
It means if some one has purchased one share of Ispat let say as on Price Rs 12, then he/she will need to pay Rs 100 to Axis bank for transaction and again if he/she will sell 1 share in again he/she need to pay Rs 100.
And NRI can even not participate in intraday trading as Axis bank and Navia told me.
So my conclusion is that for a one trade (Sell and Buy) a NRI has to pay almost Rs 210 + Axis Bank service tax + Brokerage Tax + (applicable tax if you are selling before a year).
example fewday back I purchased 10 share at 11 of Ispat it cost me me 110 + brokerage and I soled it at Rs 14 --I got it Rs 140 - Tax service...I was supposed earn Rs 25 for this trade. but when I saw my bank statement they have deducted Rs 205 for two transaction I was stunned.

therefore a NRI has to pay almost rs 230 for a single trade, and these banks and broker does not explain in detail about this in advance while open an account.

Is there any cheap cost trading for NRI customer..
 
V

vinsu

Member
#4
#4
Use ICICI Direct. The benefit is - it has 3 in 1 account - trading , bank and demat account ..

Roughly , you will have to pay 1.25% of the trade value ( for Buy or Sell ) which includes Brokerage , STT etc .

Above is for NRI . .

thanks
 
A

ARMHM

Active Member
#5
#5
renu_1986 said:
Dear Seniors
Few days back I have just start trading, and I do not know much about it.
I have my demat account with Axis Bank and Broker is Navia market.

As I am a beginner then for the sake of learning i have just purchased thee two share of Satyam at rs 275 (Total 500) and two DLF at rs 185 and then after 15 days I have sold both share (Satyam at 300 and DLF 210) Both transaction I have done using Online Interface as per my math, It was suppose to give me profit Rs 100.
but after few days back when I have seen my Axis Bank then I found Axis has deducted Rs 400 on the basis of Rs 100 for the selling and Buying of 1 Scrip.

Is this normal, what is the definition of 1 Scrip, does it mean purchasing of share for company in one day.
I mean if I will purchase 1 share of 10 different company and the price of each share is Rs 10. does it mean I have created 10 Scrip and i have to pay Rs 1000 to Axis bank and rs 100 for 10 share.
then how people make the profit from Share market even I heard they used to say they have sold their share even at the 50 paisa profit (Just in case of Ispat)

I will really appreciate if some one can teach me the correct way of trading, I think I am making mistake while doing trading, please teach me the correct way
Thanks in advance
Renu
Click to expand...
Since your trading volume is so low you will never be able to do profitable trading on short term basis. Apart from brokerage, service tax, regulatory charges etc. there is also demat charge to be considered in calculation. Low priced stocks should be bought and sold in reasonably high quantities. Be it any broker the charges are more if the transaction value is less than Rs. 3000/-. Try not to trade if your the total value of one trade is less than Rs.3000/-.
 
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