Tuesday, September 04, 2007

Why You are not able to buy Vikas WSP shares? 

One person has emailed me that he is not able to buy Vikas WSP shares....... Below is his query & my response to that query. Name of the person who emailed this query is not displayed here as he may not like it.

Question:

Dear Sir,
I was trying to buy  VIKWSP scrip through icicidirect online but when I placed an order it shows that trading on this scrip is not allowed from BSE/NSE.
Why so? Pl help me. i want to buy this valuable scrip.
Thanks

Answer to his query:

From the last 10 days since it got relisted, it is on upward freeze of 5% ( Upper circuit limit for a day fixed by BSE) within no time of opening the trade on BSE & there are hardly any sellers as daily it's price increases by 5% & millions of shares are for buying while there are no sellers at that price. In coming few days when it reaches at a price where people would like to sell their shares at their choice price, only then you shall be able to buy. Of course you can buy anything only when someone is willing to sell something in the market. Pl. also note it's listed on BSE only & not on NSE. Pl. also check if icicidirect online is working on BSE or NSE or both. If it is not on BSE then you shall have to buy through a broker who trades on BSE.
 
Thanks,

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3 Comments:

Blogger Ankur said...

icicidirect doesnot allow you to trade in VIKAS becuase it is listed as Z group shares,,, prominent brokers like icici, hdfc doesnot allow trading in Z group shares becuase as per Exchange rules, brokers are held responsible for any price manipulation . So they donot take risk to enable trading. Go to your local broker, he will help u. ICICIDIRECt may enable the scrip in future becoz it is having a good volumes leaving the broker less responsible.

8:08 AM  
Blogger Sancho said...

Thanks Ankur for the update.

Regards,

7:52 PM  
Anonymous Anonymous said...

Ankur,

What sould i provide to my local Broker, to sell this Scrip ? More clarity is highly appriciated..

4:58 PM  

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