Finvasia

[raja4204]

IF Possible finvasia can go to IPO and Design good infrastructure for Retail clients

 

[sahil kapoor]

I don’t see any benefits to go to brokers for IPO application. I've been using netbanking for IPO, which is the easiest way to file and that too free to cost.

 

[maxg]

I don’t see any benefits to go to brokers for IPO application. I've been using netbanking for IPO, which is the easiest way to file and that too free to cost.

i also agree

 

[Finvasia]

IMPORTANT UPDATE REGARDING BTST AND MARGINS

Dear TJ Members,
In reference to the recent margin changes in Cash segment only, following shall be applicable with immediate effect.

BTST is allowed
Client can buy on T day and sell on T1 day. Please note, on T1 day, you need to have Var+ELM+Adhoc margin for selling the BTST position. Further, you shall not be able to buy new position on T1 day from the released margin after selling the shares.

Let us explain with example: You bought A shares of Rs 1,00,000 on T day. For BTST, you need to have Var+ELM+Adhoc margin for the quantity to be sold on T1. Say, the margin required for the selling is Rs 30,000. Once you have sold the position, Rs 30,000 shall be blocked for both T1 and T2 day from your available margin. Please note, the released margin of shares sold on T1 of Rs 1,00,000 shall be available on T3 day.

Margin of shares if sold from Demat:
Client shall get full margin on T day if shares are sold from their Demat account. In other words, if you have shares in your Demat account and wish to sell the shares using CNC order type, you shall be able to make fresh positions from the sold margins.

Regards

 

[Finvasia]

Update on HDFC Virtual Bank Account: Instant Funds Update

Dear TJ Members,
In reference to the recent virtual account funds update process, we have upgraded and all funds shall be updated instantly in your trading account. You need to transfer funds in your virtual HDFC account and limits shall be updated immediately in NEST and Scalpert. This is applicable in case of NEFT, RTGS, FT and IMPS only. Once limits are updated, you shall also get an SMS on your registered mobile number.

Each client (new and existing) will be issued a custom bank account, where first 6 alphabets will be FINVAS followed by your client code such as "FINVASXXXXX". You can find these details in PRISM under "ADD FUND".

Virtual Account Number: FINVAS#######
For Example, if you client code is FA1234, then your virtual Bank account number shall be FINVASFA1234
Beneficiary Name: FINVASIA SECURITIES PVT LTD
Bank Name: HDFC BANK LTD
IFSC Code: HDFC0000873
Branch Name: Industrial Area, Chandigarh

Moving forward, we would advise all our clients to use Virtual Bank Account to transfer funds.
Regards

 

[CougarTrader]

Dear TJ Members,

In reference to recent SEBI Circular, brokers have been asked to close CCA account and enable pledging mechanism from client’s Demat account. This may impact clients who are actively trading in cash segment from 31 Aug 2020. We will share new pledge/unpledge process separately.

Let's understand with a scenario:

All shares bought are transferred directly to client DP account.

Earlier: You could transfer shares from your Demat account to our CCA account using Easiest and later were able to sell those shares.

Now: Since there is no CCA account, you shall not be able to transfer shares from your DP account to our account in advance. Hence, selling of shares may have challenges.

Clients with POA will be able to see the holding in their trading application and can sell without transferring to us. Also, shares will remain in your Demat account, so you can see them in your backoffice. To this, here are two options:

1. Apply for POA immediately

a. You need to print copy of POA from https://www.finvasia.com/img/guidance/power_of_attorney.pdf

b. Sign on all pages. Do watch this video before signing- How to fill POA form

c. Fill the POA form and send us the original to our Corporate office :
Finvasia Centre, D-179, Sector 74, Mohali, Punjab 160055

d. We can only enable POA once original has been received with us.

e. Please make sure we receive the original POA document before 22 Aug 2020

2. eDIS (Coming soon)

We are in the process to implement and may take some time. So, we would advise to share the POA for now. In case you wish, the POA can also be revoked once eDIS is available.

Please feel free to reach our DP Department, Parveen : 99140 66318 or email [email protected] or open a ticket in Prism.

Regards

Dear @Finvasia,

Have gone through How to Pledge Shares via Easiest.

Got two queries only,

(1) How to buy mutual funds with you?

(2) Please share an approved list of pledge-able securities including mutual funds.

Thank you

P.S. To fellow forum members who are thinking to point to Z's list; FYI this list is dodgy when it comes to the mutual funds (especially debt and liquid funds). To my knowledge, neither the Exchanges nor the Depositories nor the CC has published any concrete clarity on which MFs are approved. So, it will be helpful if @Finvasia could kindly clear the air and give us an opportunity to pledge mutual funds with them for margin.

 

[MANISH_DAMANI]

Dear Finvasia provides your active dealing room number for call and trade on emergency. The old number either not working or no one is picking up the phone. The provided number by your chat staff is not helpful. Please provide an active mobile number and/or contact number with your dealer.

 

[tradermodified]

Dear @Finvasia, please answer following queries:

Case 1: Suppose I buy 1 lot of BN 22500CE (on Monday) @ 100 and sell it same day for 140, what should be the total credit (on completing this buy/sell trade) to my trading account. (not accounting for taxes etc)

Case 2: Suppose I buy 1 lot of BN 22500CE (on Monday) @ 100 and sell it on Tuesday for 160, what should be the total credit (on completing this buy/sell trade) to my trading account. (not accounting for taxes etc)

Case 3: Suppose I buy 1 lot of BN 22500CE (on Monday) @ 100 and sell it on Tuesday for 160, again buy same strike at 140 after an hour. What should be the total credit/debit (for these 2 trades) to my trading account. (not accounting for taxes etc)

Case 4: Suppose I buy 1 lot of BN 22500CE (on Monday) @ 100 and sell it on Tuesday for 160, again buy same strike at 140 after an hour and sell at 200 . What should be the total credit/debit (for these 3 trades) to my trading account. (not accounting for taxes etc)

Please let me know. Thanks

 

[Finvasia]

Dear @Finvasia,

Have gone through How to Pledge Shares via Easiest.

Got two queries only,

(1) How to buy mutual funds with you?

(2) Please share an approved list of pledge-able securities including mutual funds.

Thank you

P.S. To fellow forum members who are thinking to point to Z's list; FYI this list is dodgy when it comes to the mutual funds (especially debt and liquid funds). To my knowledge, neither the Exchanges nor the Depositories nor the CC has published any concrete clarity on which MFs are approved. So, it will be helpful if @Finvasia could kindly clear the air and give us an opportunity to pledge mutual funds with them for margin.

HI @CougarTrader,

Below are point wise replies to your queries:

1. To purchase MF, you can open a ticket in Prism for now and one of our executive shall assist you.
2. Exchanges issue a standard list of Approved Stocks and MF for margin. Based on daily VAR value, limits are given for trading. Currently, we do not accept MF though ETF such as NiftyBees etc can be pledged using the same process like stocks. We have taken your feedback about MF pledge and shared to the concerned team. Will update in case anything changes in near future.

Regards

 

[Finvasia]

Dear Finvasia provides your active dealing room number for call and trade on emergency. The old number either not working or no one is picking up the phone. The provided number by your chat staff is not helpful. Please provide an active mobile number and/or contact number with your dealer.

Hi @MANISH_DAMANI! The call and trade numbers of our dealing desk are +911724740040, +911726750050. Thanks