I have shortsell 592 quantity at the price of rs104.45 but it goes to auction and on auction day the price have not touch to 106rs then also in contract note ot is showing buy value 106rs.It is possible that on auction day if the share has down and not cross even 102rs then also 106rs buying amount will pe given on contract note.according to share value i will be in profit because tha share has decline continuously 3 days amd not even touch 103rs.
On 11-12-2023 I short sold IREDA stock due to the upper circuit it went to the auction settlement. I understood that “The price at which the transaction is settled to the trading account, known as the close-out price, is generally over 20% higher than the stock’s closing price on auction day. This amount can be used to purchase the stocks again once the cash has been credited to the trading account” but how I can verify this that there were no sellers in the auction apart from auction contract note. @Meher_Smaran
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Hi @Rigsby I am facing the same scenario. At what price they have settled the auction in contract note, what was the date mentioned? . How much loss per share you have occurred?