Comment on Consequences of Short delivery - NSE/BSE

pandeyvin commented on 19 Jun 2014, 04:12 PM

SirDir Sir, Yesterday i.e on 18/06/2014 I sold ‘Gati’ 1000 nos. at 129/- while I was not having delivery in my demat account. My intention was to short sell the same. But my broker did not inform me that my shares have been sold off. Today on 19/06/2014 he asked me to deliver the 1000 shares but I was not having the delivery and i was not aware that the shares have been sold off yesterday. Now today the closing price is 123.90. Now on T+2 the shares will be auctioned. Now tomorrow i.e on 20th if the price of the gati goes down the below 123.90 the exchange would take the higher valuation of 123.90. Sir, Wanted to ask in this case do get a profit of approximately 5000/-. Please correct me if I am wrong. Another question is what if the GATI closed above 129 then I have to bear a loss. Sir, your guidance is desparately needed.
Thanks and Regards

Vinod Pandey

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