Zerodha....

[akash2004]

Re: Stamp Duty & outside office..

The DTC[Direct Tax Code from 2012 APRIL 1, only another 6 month] proposes:
1. Uniform stamp duty for stock market transactions through all states.
2. To abolish Securities Transaction Tax[STT].

So there is NO NEED to setting up any offices outside Bangalore for Zerodha I think.

With uniform Stamp Duty zerodha'll attract more traders like me soon [who trades 2 to 5 lots]

sir now where have you heard where the STT will be abolished in 2012 any link kindly let me know STT has made my life miserable

 

[akash2004]

Hi Akash,

Really sorry about missing this, I assumed Hari was in touch with you on this... I had to rush to Singapore the last time around since I had this fii prospect wishing to trade with us...

1. Stocks as collateral is not something we have put a process on. We are doing it on an individual basis. In your case, we can definitely work this out. Firstly, when you give stocks as margin, especially with the new sebi circular, 50% for the future margin can come from stocks and the other 50% has to come in cash.

So if you have 20lks in stocks and with a haircut of 30%, 14lks can be used for future positions. But here what needs to be ensured is, 50% of the future position has to come in cash... So for eg, if you want to take 10lks margin worth reliance future position, 5lks can be used from the 14lks and the other 5lks has to come in as cash...

2. ILFS margin funding account won't make sense...

3. @Akash, we can set this up for you as long as the position is completely hedged and we stick to the rule of 50% cash and 50% security for your future position...

Can you send an email to india@zerodha with attn sachin on the subject.. Will call you back... Trying to get hold of your mobile, not able to...

Looking forward to have you on board...

Hi sachin thanks for prompt reply as usual , but if i pay 50 % margin in cash and one lot of reliance is around 50000 rs overnight margin so 20 lots is 1000000

so if i have to pay 5 lacs as cash margin i loose around 10 K which i make from that 5 lacks which i am supposed to save paying u less brokerage than edelweiss where i pay .005 for cash and intraday and .05 for delievery

i just trade one lot at a time as we hedge cash f-uture so i cannot punch more that one lot of reliance at a time , where as at edelweiss i pay brokerage for one lot which is less than 20 rs

i saw my contract note and it is 10.31 paise to be precise and then there is your stamp duty also for which people there is enough of mention

The only place where i will gain is that for trading in delievery i will safe aproxx 80 rs each side that could be 15000 - 20000 or may be 30000 rs per month

SO i just please request you to ask your decesion makers if they can give me
margin to sell fno against stocks as all virutally all the big brokers are giving

I know some brokers 9 rs per lot ( dont want to name them though ) dont give but then i spoke to them once only , but then the dont even talk to a client like a client may be they dont need any more clients

I think there is virtually no risk allowing me to sell futures for the same stocks i hold and as it is even if market hits upper or lower circut MTM cannot be more that the value of my stocks and my postion is completely hedged

Thanks AKASH

 

[sr114]

I still think Zerodha/ ILFS to find the alternative for people who do not have internet facility at home as often as you guys think.

If you arereally business minded then you guys should think about the mass population of India. Not just for those who are sitting in front of computer.

Sorry reks, if any 1 don't have a pc with internet connection in his home, then how will he will be trading via Zerodha. As far i know using the cyber cafe for trading increases our coat which we try to minimise by opting for low cost Broker like Zerodha, otherwise our local broker office is sufficient and paying large brok amount.

could you please elaborate in this context

regards
sr114

 

[hc9001]

Re: Request of DTC-STT link

Abolition of Securities Transaction Tax in DTC proposal [DTC Bill]
Links:-

http://www.business-standard.com/india/news/stt-abolition-to-bring-back-high-volumes/366861/

http://articles.economictimes.india..._stt-capital-gains-securities-transaction-tax

http://www.financialexpress.com/news/new-tax-code-calls-for-radical-changes/501365/0

http://www.deccanherald.com/content/19934/decoding-direct-tax-code.html

 

[murthyavr]

This has got nothing to do with Zerodha, but..

Is it true that the trades in DJIA and S&P500 do not attract STT till Feb-2012?
Someone told me this, but I couldn't get any info on this..

Thanks..

 

[gunavadhi]

This has got nothing to do with Zerodha, but..

Is it true that the trades in DJIA and S&P500 do not attract STT till Feb-2012?
Someone told me this, but I couldn't get any info on this..

Thanks..

hello murthyavr,google is your friend...just google brother, for any doubt on any matter.this i got when googled about your doubt.
http://www.nseindia.com/content/press/29082011.htm

 

[hc9001]

Re: Request of STT abolition in DTC Lnk

Dear akash2004
I m not able to upload direct link [web link] here.

httpslash)(slash)articles(dot)economictimes(dot)indiatimes(dot)com(slash)2009-08-12(slash)news(slash)28410177_1_direct-taxes-code-stt-removal

replace (slash) with / and (dot) with . to get the original Lnk.

 

[youngindian]

It's clear that Govt. is doing the scalping

What a timing

 

[paulmathewmac]

Is the NSE Platform as user-friendly and as fast as the trading platforms of brokers like Sharekhan, Motilal Oswal and Indiabulls?

 

[BUZZ]

Re: Web Cam verification....

Only one who sitting in front of computer(with Internet) can able to use NSE Now Terminal (hence Zerodha).
And when one have a PC with internet, what is problem with web cam? (WebCam costs only Rs 200-350.) Is it a big problem? :rofl:

Buddy:

Many people don not use internet quite often as IT guys or broker people use or like you do.

We know very well majority of Indian population where they stand.

They might do offline trading or call broker for their investment.

Please go and check how many people use internet at home. I am sure you will find the survey somewhere.

It's not possible for everyone to have everything in hand in India.

That's why I urge earlier to Zerodha/ILFS to drop this webcam idea otherwise I also have to close my a/c with them. No choice

Tell me one thing if they can send the application form to home address for opening application .

Why they can not come up with any alternative of this issue?

I am sure they need more customers instead of existing customer closes their a/c due to this small issue.

So Zerodha should work on it.

Due to webcam problem with ILFS, I am thinking to go with other securities to open my demat a/c if they would not agree.

Can anyone let me know if there is competitive rates available? So that I get my Demat a/c from them instead of ILFS.

I dont mind paying 100 more than ILFS offers

Please suggest if you guys know any.

Many thanks.