Announcements

The Indian Premier League Governing Council (IPL GC) today announced Upstox, one of India’s leading and fastest-growing digital brokerage firms, as an official partner for IPL, which will begin on April 9th, 2021. This will be a multi-year partnership.

Founded with the vision of making financial investing easy, equitable, and affordable to all Indian investors, Upstox provides online investments in Stocks, Mutual funds, Digital Gold, Derivatives, and ETFs for both investors and traders. Backed by marquee investors such as Tiger Global, Upstox currently has over 2.8 million customers.

Mr Brijesh Patel, Chairman, IPL, said  "We are pleased to have Upstox on board as an official partner of the Indian Premier League 2021. As one of the most-watched cricket leagues in India, IPL along with Upstox, one of India’s fastest-growing digital-trading platforms, can create a huge impact on the audience, especially the millions of Indian youth who are financially independent and looking for more options to manage their portfolios."

Commenting on the partnership, Mr. Ravi Kumar, Co-founder & CEO, Upstox said "We are thrilled to partner with BCCI for IPL 2021. In India, Cricket is more than just a sport. It is an important part of our culture and social life, with a huge fan-following, especially by the millennials. IPL has paved a bold new direction to Indian cricket in the last decade just like Upstox, which is revolutionizing finance in India. This is what sparks a natural connection between both the brands. With this integration of sports and finance, we intend to spread financial awareness across the country."

For the first time in the history of IPL, a brand in the Stock and Mutual Fund sector would be partnering at large to create awareness about this category.

Click here to read the official BCCI announcement. 

The two-day strike by The United Forum of Bank unions (UFBU) on 15th and 16th March 2021 could affect some banking services for various Public Sector Banks. Here is what this means.

What’s happening:

Different payment modes with various  Public Sector Banks (PSBs) may get impacted by this two-day strike. Some transactions may even get rejected or delayed.  This, in turn, could affect the Net Asset Value (NAV) for Mutual Funds.

What is NAV:

Net Asset Value or NAV is the cost of each unit of Mutual Fund. This cost or value changes every day. 

Since 1st February 2021, all Mutual Fund transactions receive the NAV on the day of fund realization - the day of the sale. 

How the current happenings impact NAV

The experts at Upstox are anticipating that there could be a possible delay in fund realization due to the affected services of these Public Sector Banks.

If a Lump Sum or SIP payment for a Mutual Fund is impacted by the above declared two-day strike, and is delayed or rejected, the Mutual Funds allotted to you will depend on the day that your payment was received. This is because NAV is subject to change every day. Thus the NAV allotted will be as per the day the payment was received, which may not necessarily be the day that the payment was initiated. 

We hope this helps you make more informed and smarter investment decisions.

Invest Smarter! Invest With Upstox.

On account of US daylight saving timings, the trading hours for all commodities have been revised as follows:

• The revised trading timings for all commodities (MCX) will be from 9:00 AM -11:30 PM.
• All MCX Intraday position square off timings will be 10:50 PM. 

These revised timings will come into effect from 15th March 2021. 

To know more, please refer to the MCX circular: https://bit.ly/3l9Xk28

Our auto-square off timings for today are as mentioned below:
?NSE & BSE: 3:00 PM
?CDS: 4:30 PM
?MCX: 11:15 PM

Please note: our usual auto square-off charges will be applicable. Please plan your trades accordingly.

Arvind Fashions Limited has credited existing shareholders’ Demat accounts with REs (Rights Entitlements) after it announced a Rights Issue.

What does this mean?
A company announces a Rights Issue to invite existing shareholders to buy more shares, usually at a discounted price. These shares are known as Rights Shares.

After the Rights Issue is announced, the company then credits its existing shareholders’ Demat Accounts with REs (Rights Entitlements).

These REs are not the Right Shares but the benefit given to existing shareholders to apply for the Right Shares. If shareholders do not wish to apply for these Rights Shares, they can even trade these REs in the market until a particular date.

To learn more about rights, click here.

What does this mean for Arvind Fashions Limited shareholders?
Existing shareholders of Arvind Fashions Limited (as on record date 24rd Feb’21) have three options - 

1. They can use their REs to apply for more shares of Arvind Fashions Limited (in proportion to their existing shares - 3 for every 20 shares held) at a price of Rs.135  per share.
2. If they do not wish to apply for more shares, they can even trade their REs in the market.
3. Take no action.

What dates should one keep in mind?
Last date to apply: 18th March 2021
If you’re interested in applying for the right shares, you can apply on or before this date.
Last trading date for RE  - 12th March  2021
If you do not wish to apply for the rights shares, you can trade your REs in the market on or before this date.

How To Apply for Rights Shares?
There are 3 ways to apply -
1) Online through ASBA (Applications Supported by Blocked Amount) if your bank supports it just like you do for an IPO. 

2) Online through the RTA (Registrar and Transfer Agent) website 
http://www.linkintime.co.in/

3) Offline by filling the Composite Application Form (CAF) received in your courier from the company’s RTA and then submitting it at a Self Certified Syndicate Banks (SCSBs) branch.

Read more about this RE by clicking here.