Mis position not closed

#1
HI

I SOLD(SHORTED 1001 SHARES) B L Kashyap & Sons Ltd SHARE UNDER MIS IN ZERODHA TRADER TODAY AT RS17.75 IMMEDIATLY SHARE WENT TO ITS UPPER CIRCUT LEVEL TO 18.75RS (4.9% UC) I TRY TO BUY THE SHARE BUT NO SELLER THERE TO SELL SO I LEFT THE POSITION AS IT IS,I THOUGHT AT 3.20PM ADMIN WILL CLOSE BUT ADMIN ALSO NOT ABLE TO CLOSE THE ORDER BEACUSE OF NO SELLERS. SO WANT TO KNOW DID ZERODHA PUT ANY PENALTY FOR ME OR THEY CLOSE THE POSITION ON MONDAY. PLEASE ANYONE EXPLAINE IN DETAIL IAM CONFUSED. THANKS IN ADVANCE
 
#2
Now you have short position, so you need to deliver the shorted share by T+1 evening, that is tomorrow. if you were not able to arrange for the share by then, shares will be bought from auction and given to the buyer. And you will get penalized for short delivery. I think the exact amount you need to pay will depend on the auction.
 
#3
Now you have short position, so you need to deliver the shorted share by T+1 evening, that is tomorrow. if you were not able to arrange for the share by then, shares will be bought from auction and given to the buyer. And you will get penalized for short delivery. I think the exact amount you need to pay will depend on the auction.
Thank you ,so they buy share at auction and deliver to the buyer and the broker wil take the buying amount(shares)+pentalty from my trading account balance right. at what price they buy back the shares in auction any idea
 

amsin21

Well-Known Member
#4
Thank you ,so they buy share at auction and deliver to the buyer and the broker wil take the buying amount(shares)+pentalty from my trading account balance right. at what price they buy back the shares in auction any idea
The Auction market is conducted every day between 2:00 and 2:45 pm. Maximum cap on both sides is 20% of closing price. The defaulting member has to pay the highest price prevailing from the day of trading (T) up to a day prior to the auction day OR 20% above the official closing price on the day prior to auction day, whichever is higher. The buyer of those shares gets a full refund.

Read more here :
Shortages Handling
 
#5
The Auction market is conducted every day between 2:00 and 2:45 pm. Maximum cap on both sides is 20% of closing price. The defaulting member has to pay the highest price prevailing from the day of trading (T) up to a day prior to the auction day OR 20% above the official closing price on the day prior to auction day, whichever is higher. The buyer of those shares gets a full refund.

Read more here :
Shortages Handling

TODAY B L Kashyap Sons SHARE END AT ITS UC PRICE OF 18.70RS,IT HAVE 5% UC SO ON MONDAY IF IT HIT UC ITS CLOSING PRICE WILL BE 19.70RS APPROX.. ON TUESDAY ITS WILL BE 20.80RS APPROX(5% UC). SO ON WEDNESDAY AUCTION IF THEY BUY BACK 1001 SHARE(SHORTED BY ME) AT 20% UP OF PREVIOUS CLOSING PRICE THAT MEANS TUESDAY CLOSING PRICE 20.80RS,SO 20% UP OF TEUSDAY CLOSING PRICE IS 25RS APPROX.. SO I SHORTED 1001 SHARES AT 17.75 AND EXCHANGE BUY THE SHARE AT 25RS, SO MY LOSS WILL BE (17.75-25)*1001 APPROX. RS 7500 AM I RIGHT
 

amsin21

Well-Known Member
#6
TODAY B L Kashyap Sons SHARE END AT ITS UC PRICE OF 18.70RS,IT HAVE 5% UC SO ON MONDAY IF IT HIT UC ITS CLOSING PRICE WILL BE 19.70RS APPROX.. ON TUESDAY ITS WILL BE 20.80RS APPROX(5% UC). SO ON WEDNESDAY AUCTION IF THEY BUY BACK 1001 SHARE(SHORTED BY ME) AT 20% UP OF PREVIOUS CLOSING PRICE THAT MEANS TUESDAY CLOSING PRICE 20.80RS,SO 20% UP OF TEUSDAY CLOSING PRICE IS 25RS APPROX.. SO I SHORTED 1001 SHARES AT 17.75 AND EXCHANGE BUY THE SHARE AT 25RS, SO MY LOSS WILL BE (17.75-25)*1001 APPROX. RS 7500 AM I RIGHT
Zerodha has beautiful example .... just have a look

Auction Settlement

Auction penalty
 

rh6996

Well-Known Member
#7
Thank you ,so they buy share at auction and deliver to the buyer and the broker wil take the buying amount(shares)+pentalty from my trading account balance right. at what price they buy back the shares in auction any idea
If you know anyone of your friends or relatives having this share, take loan of shres from him, fulfil your delivery and then buy from mkt and return! BTW, share sold on Friday can be delivered till Tuesday morning!
 

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