[vinaydas]

Small problem has occurred in my trading account.
I applied for 75 shares of coal india ipo sometime back.
I was alloted 37 shares and the rest of the money was sent to the bank account. I then sold the coal india shares and transfered the amount (9500) from my bank to the demat(geojit). But it dint take place immediately.
I had to call up the customer care some 20 times to do so and then somehow the amount appeared.
I purchased dishtv(on the same day for the full amount in my account(22k) and i sold it during the muhurat trading session at a profit. But i dont know how but from my account around 9612 rs has been deducted.

The customer care has not given me a valid explanation(or rather i dint understand the explanation) .Can the pro's guide me ?

[BaCkSeAtDrIVeR]

Originally Posted by vinaydas

Small problem has occurred in my trading account.
I applied for 75 shares of coal india ipo sometime back.
I was alloted 37 shares and the rest of the money was sent to the bank account. I then sold the coal india shares and transfered the amount (9500) from my bank to the demat(geojit). But it dint take place immediately.
I had to call up the customer care some 20 times to do so and then somehow the amount appeared.

This is a bit confusing here. How did you transfer the amount? NEFT? Or inter account transfer from one of the banks listed on their customer care sites?

If it is from one of the banks, you will get instant credit on their "flip" site. (NOT the customer "gcc" site).

Look here :-

flip (site) > flip lite > login > portfolio. Look at the amounts.

I purchased dishtv(on the same day for the full amount in my account(22k) and i sold it during the muhurat trading session at a profit. But i dont know how but from my account around 9612 rs has been deducted.?

I suspect you used delivery options. ("Cash", if you use the web based "Flip Lite" version). I do not use the other "Flip GOld" option, since it uses Flash; I am not very confident of Flash's security, and I am an investor, I really do not require all the "features" on a flash based applciation.

So, here is how it ought to work.

1. You bought DishTV. Means there should be cash available to your credit, and it will be deducted same day from your a/c.

2. You sold them. Cash will be credited only after settlement - (T + 3).

But I cannot figure out what exactly your complaint is.

[/quote]The customer care has not given me a valid explanation(or rather i dint understand the explanation) .Can the pro's guide me ?[/quote]

On face of it, this is a case of transactions pending settlement.

Log in into https: / /gcc .geojit. net (spaces to prevent substitution - notice the https). Look at "balance enquire" / ledger, etc.

Talk to your branch's manager.

[vinaydas]

^^
I use Internet Banking to transfer the amount(Federal Bank).The Cash always gets credited onto the demat account almost instantly.
But this time It took almost an hour(after me pestering the geojit customer care).

I used the cash option to buy Dish Tv(i tried to apply for 350 first, i couldnt because i needed 100 rs more to do so(got a warning) so i purchased 348 shares.)
The above was done on 4th
Again on 5th during the muhurat trading hours i called geojit using my TIN and PIN and used phone trading to sell dish tv.
I asked the person regarding my balance and he said it was 14k.
according to the person i had a debt to geojit(9500) and when dishtv was sold the debt was paid off.
according to him by balance after buying dish tv was -9500 rupees. But before i logged off on 4th i checked my buying power was around 30rs.

Is there an option where the broker can give you instant credit? I suspect that my transaction from the bank was incomplete(my broker did not receive it) and instead he gave me instant credit of 9500 Rupees for my trading purpose.



as of today my portfolio says
Cash=14k
MTF=14k
Mutual funds=14k

Yesterday
Cash=14k
MTF= -9500
Mutual funds = -9500

My complaint if summed up should be
I had 12k odd cash after selling coal india
+ i transfered 9500 from my bank account into the demat account
=22k odd amount of cash which i bought dish tv with
so after booking profits from dish tv balance should be = 24k

But i dont know why 9500 has been deducted from my demat account and similarly the 9500 is not present even in my bank account.

[vinaydas]

My buying power in the flip client is shown as 14k odd.

[BaCkSeAtDrIVeR]

Should confess that I am confounded.

Did you look at the ledger after logging into https://gcc. geojit . net? The user name and password is same as for trade site. (there is a link from the trading site too). It is usually 2/3 alphabets, probably indicating your branch, and 3 or more numerals.

One problem with GBNPP is that their accounts are tediously slow for computer based transactions. Look at bottom of the landing page once you login. The lag is only in the web interfaces, not in the terminals accessible to staffers. That is why I feel you should talk to your branch / its manager.

As far as stock brokers go, I am not sure; have not used any other stock broker.

I guess you are looking for what the figure against "MTF" means? That is "margin fund". Your broker finances your holdings to the extent you have not enough cash.

I dunno why it happens, even when I purchased within the limits of funds available for me, I have received a "Margin funded holdings" statement from them on the eve of day of trade.

[BaCkSeAtDrIVeR]

(Sorry, time for editing has run out, hence back to back post.)

The first image is their proforma bill. Iguess since the amount you transferred has not been shown in the account, they treated the purahcse as "MTF"; and later reversed the entry.

[vinaydas]

^^
so it means the bank transfer has not taken place correctly and they have funded me the amount to trade?

The ledger snap
below

[DCEite]

Guys anyone investing in the PowerGrid FPO ?

I had a not so good experience with Coal India IPO - been alloted only 50% of applied shares.
Will it be the same for PowerGrid as well ?
Should i apply for double the amount i actually need to invest ?

^You can see the trend and apply on the last day morning. PowerGrid FPO is also expected to be oversubscribed by 2 - 3 times in the retail individual investor [RII] category. However, the maximum amount that can be invested for RII still remains Rs 1 lakh for this FPO. However, 5% discount is allowed for this category.

[JMaruru]

Originally Posted by DCEite

I had a not so good experience with Coal India IPO - been alloted only 50% of applied shares.
Will it be the same for PowerGrid as well ?
Should i apply for double the amount i actually need to invest ?

The maximum amount you can apply as retail is one lakh rupees. After the powergrid IPO it might go upto two lakh rupees.

[ontheroad]

Guys whats the basic difference between an IPO and a FPO

[JMaruru]

Originally Posted by ontheroad

Guys whats the basic difference between an IPO and a FPO

IPO(Initial Public Offer) is for a unlisted company(i.e. the shares are not traded on the exchanges). FPO(Follow-on Public Offer) is for a listed company, they want to divest some more shares to the larger public.

[ghpk]

Originally Posted by vinaydas

^^
so it means the bank transfer has not taken place correctly and they have funded me the amount to trade?

The ledger snap
below

can you check if you still have dishtv in your portfolio.

It takes a couple of days for cash market shares to get credited in demat, till then if you sell, you use option, sell shares not in demat, as they remain under head previous settlement.

also do a trade search and see what was exactly executed on 5th.
if you did a short sell, the money deducted could be the cost of settlement in auction.

[ramki067]

Guys,
I had invested in Coal India IPO through Sharekhan and had an option of cut-off limit that is Rs.245/- and i had enabled the option. But as Coal India provided a 5% discount i should have got it at Rs.233 right? But my Sharekhan Report shows as Rs.245/- !!! How is that possible?

[aargee]

Originally Posted by DCEite

Guys anyone investing in the PowerGrid FPO ?

Just a word of caution - I've quite a good number of shared with PGCIL. This one & RIL are the only ones in the power sector in the negative rating. Just a few number of shares on Areva is rocking like mad.

I've been thinking lately to sell off PGCIL too.