Demat A/C

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 December 2010 I have opened a/c with my broker for apply
in IPOs whether can i do Intraday Transactions with the same??

CA Navin Jain

CA Navin Jain (Expert)
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01 December 2010 Yes! You can subscribe to IPOs and sell the alloted shares. Similarly you can buy and sell shares from market on delivery basis as well as on intraday basis.

Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2010 But broker is saying that for trading separate account is required???

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CA Navin Jain

CA Navin Jain (Expert)
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02 December 2010 yes broker is right. Demat A/c is required to hold shares in electronic form/ demat form. Trading A/c is reuired to trade in those shares. Both are different A/cs. Normally a single broker opens both A/cs at same time. You can also open these two A/cs with different brokers.
For example open a demat A/c with CDSL and open trading A/c with some other broker.

Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2010 In case of demat A/c ,i cannot apply for IPO
and trade through that??

Querist : Anonymous

Querist : Anonymous (Querist)

02 December 2010 In case of demat A/c ,i cannot apply for IPO
and trade through that??

CA Navin Jain

CA Navin Jain (Expert)
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03 December 2010 Dear querist! I have in very clear words mentioned that demat a/c is meant to hold shares in demat form only and trading a/c is meant to trade in those shares. Why are you so confused? I don't think that your broker won't provide you these deatailed information. So immidiately rush to your broker..