short delivery..help me guys

I bought 1000 shares of munjal auto on 01st Dec and sold 1000 shares on 2nd Dec...but today a message came that you sold excess 1000 Munjal auto short delivery.. .what it is meaning..plz guys help me out..my margin is blocked..

 

Who is broker? You must have bought at NSE and sold at BSE. Kotak has BTST option which tracks where you buy and sell. Tell broker to take from one exchange and give to other exchange.

 

Broker is Ventura...this is not the case...both trades done on nse...wen I contacted broker they said tht you bought but seller may have defaulted means sellers may not have shares in their demat....

 

Big mess situation however you cannot be blamed for it is seller's fault.

 

This is always a risk in BTST trading. If the seller from whom you bought the shares defaults you will have to bear the pain of auction for the shares you sold.

 

what will happen now...

 

who will bear the pain me or the guy who sold me...??

 

you pay for your delivery problem and the chap who failed delivery for your trade pays for his - auction

never had a bad delivery, only once because SHCIL fuckin refused to honor a DIS and my father wasn't in town

 

in that case this would be a chain reaction..means to whom i sold that person also not get delivery of shares..

 

what a mess....is this a fault of broker or some loophole in stock exchange....or side effects of BTST

 

lol it happens, isn't that counter with low liquidity?
don't worry about it much, take your hit and move on
do tell us how the auction ends for you
unless you can arrange for a delivery from somewhere

also it is nobody's fault - must have been a naked short sale by somebody and the trade went wrong

 

Do you belong to the stock broker fraternity?

 

lol no Sachin, i've been fascinated by all of it since my school days because i'd see those Annual Reports and some dividend warrants arrive in the post and been looking at stock quotes for like 15 years i think

like a jack of all trades - i know a bit part, no expert

 

I asked for this is the second time you referred to your dad... ( the first being he not approving investing on the US exchange) so felt he could be on the markets

 

ah, he's a banker, management - Public Sector
and the US markets was because of the time zones, i'd stay awake and my sleeping habits, lifestyle are still f*cked up

 

I can see that... You end up replying at this hour too.

Few interesting names get often mentioned 5-10 yr horizon

 

the counter hit upper circuit on that day..will definately tell you about auction...hope my profit remains with me...

 

I bought 1000@91.30 and sold next day 1000@102.80 and todays closing price is 105.. Wht would be my profit/loss...At wht price auction will done...

 

today i got mail ..my broker do internal settlement at 106...
i whole scenario, what is my profit...

 

look at both your contract notes and auction bill to ascertain profit/loss
and auctions are always 2-5% higher than the last closing, so you'll have a loss unless you had a big margin on the overall buy and sell