FAQs

Rebalancing the asset mix in the portfolio as per market trends enables investors to prevent losses emerging in a single asset class, and also capture potential gains in another asset class. Our MADP PMS identifies the phases of wealth creation to ensure the investment is made in the right class, at the right time. Here are the key reasons why you should invest in MADP:

• Asset Allocation drives 91.5% of returns, while security selection and market timing contribute only 7%
• Its multi-asset approach makes it an ideal, all-weather strategy for diversification
• Identifies opportunities across asset classes under different economic and market cycles
• Follows Quantamental investment framework based on Fundamental + Alternative + Quantitative + Technicals (FAQT) techniques
• Quant-based, sophisticated investment framework is designed to provide superior risk adjusted returns across market cycles
• Multi Factor model captures diversified signals, to ensure investment is made in the right asset at the right time
• Strong focus on risk management to protect portfolio and eliminate risks

PL’s MADP aims to generate superior returns during risk-on periods while diversifying risk during risk-off periods, enabling us to sustainably capture alpha across market cycles. It thus aims to generate superior risk-adjusted returns.

There are essentially three types of Demat accounts – Regular Demat account, Repatriable Demat account and Non-Repatriable Demat account.

After your Demat account opening, you can access it from anywhere and at any time. You can log into Demat account from your mobile phone or laptop using the unique 16-digit number assigned to you. Once you log in, you can see all your holdings and start transacting.

Yes, investors have been permitted to own and operate two or more Demat accounts. However, it must be opened using the same PAN number.

There are no charges for opening a Demat account and Trading account at PL. AMC (Annual Maintenance Charge) and Transaction charges will be applicable to your Demat account based on the scheme chosen by you.

No, there is no charge levied to open Demat account.

After submitting the required documents and details, it takes up to 48 hours for your Demat account to get activated. The activation is done as soon as the verification process of your account opening form is complete. This could be through in-person verification or through Aadhar Biometrics.

1. Diversification: Access equity and debt in one product
2. Higher Returns: Potentially outperform traditional fixed-income investments by capturing equity-linked returns
3. Capital Protection: Enjoy a safety net with minimum return floors
4. Tax Advantage: Taxed at marginal tax rate irrespective of holding period
5. Customizable Structures: Tailored to meet specific risk and return goals
6. Transparent Ratings: Easy risk assessment through clear credit ratings

MLDs are taxed at the marginal tax rate irrespective of holding period, under Sec 50AA of Income Tax Act.

Below are the key risks of investing in MLDs:

Market risk: The returns on MLDs are tied to the performance of an underlying market benchmark. While MLDs often come with a minimum return (floor) and a maximum return (cap), there is a risk that the actual returns could exceed the cap, limiting potential gains.

Credit risk: This risk arises from the possibility that the issuer may fail to meet its obligations to repay the principal or interest. This risk is similar to what investors face with regular corporate bonds or deposits.

Liquidity risk: MLDs may lack a robust secondary market, making it difficult for investors to sell their holdings before maturity. Given their customized nature, the full potential of MLD returns is typically realized only upon maturity.

To get started, simply open an account with PL. Our team will be in touch to guide you through the process and help you tailor your investment strategy. Click Here

With our Call & Trade facility, you can place trades over the phone with the assistance of our expert team. Simply call your RM, and they will execute trades on your behalf based on your instructions.

Your Relationship Manager (RM) provides personalised advice and support tailored to your investment goals. They are available to assist you with investment decisions, portfolio management, and any other financial needs.

Private credit offers higher yields, lower volatility, and unique opportunities unavailable in public markets. It provides consistent income and adds diversification to your portfolio.

Benefits of investing in AIFs include:

• Strategic diversification of your portfolio beyond just equity markets.
• Access to exclusive and unique investment opportunities.
• Potential for higher returns.
• Portfolio expertly managed by seasoned investment professionals.
• Tailored strategies aligned with your goals and risk profile.
• Opportunity to build a portfolio across asset classes while managing risk

The minimum investment amount is INR 1 crore for investors. Please contact our team for detailed information.

The tax treatment of AIFs varies based on the category of the fund. Category I and II AIFs are pass-through vehicles where income is taxed in the hands of investors. Category III AIFs are taxed at the fund level, and investors are not directly taxed on the fund’s income.

Yes, AIFs are regulated by the Securities and Exchange Board of India (SEBI). They operate under a regulatory framework designed to protect investors’ interests and ensure transparency in operations.

AIFs come in various forms, each designed to meet different investment objectives. Here’s a brief overview of some key AIF types

• Performing Credit AIFs
  Focus on secured lending and investing in performing credit assets, offering steady returns by targeting companies with strong credit profiles.
• Real Estate AIFs
  Focus on investments in real estate projects or companies, offering opportunities for capital appreciation and rental income.
• Pre-IPO AIFs
  Invest in companies that are expected to go public soon, offering early access to potentially high-growth opportunities.
• Private Equity AIFs
  Invest in private companies, providing capital for growth, buyouts, or restructuring, with the aim of realising significant returns upon exit.
• Venture Capital AIFs
  Focus on investing in companies that are not yet listed on any stock exchange, often in niche or emerging sectors.
• Special Situations AIFs
  Target unique opportunities arising from corporate restructurings, distressed assets, or other atypical situations, aiming for significant returns by capitalising on market inefficiencies.
• Equity AIFs
  Invest primarily in listed equity shares, targeting capital appreciation over the long term.
• Multi-Cap AIFs
  Invest across companies of varying market capitalisations—large-cap, mid-cap, and small-cap—providing a diversified equity portfolio that balances growth and stability.
• Multi-Asset AIFs
  Allocate investments across various asset classes such as equity, debt, and real estate, offering diversification and balanced risk-adjusted returns.
• Hedge Funds AIFs
  Employ advanced investment strategies, including leveraging, short-selling, and derivatives trading, to generate high returns across different market conditions.
• Fixed Income AIFs
  Focused on generating steady returns through investments in bonds, debentures, and other debt instruments.

Yes, AIFs typically have a lock-in period that varies depending on the specific fund. This period is designed to match the investment horizon of the underlying assets and strategies. Investors should carefully consider the lock-in period before investing.

Our performing credit strategy focussing on regular income/coupon in generally senior secured investments and party equity/convertibles. The aim is to generate return mix of regular coupon and an expected limited upside thru premium.

Focus of our Performing credit strategy shall be:

• Senior secured loans but also can invest across the capital structure based on fund mandate and investee requirements. Focus on mid-market unlisted companies with track record of operating profit, in general.
• The strategy is also to provide subordinated debt to strongly performing companies with non-cyclical cash flows and high equity buffers. Such investments shall be in companies with significant enterprise value, and ability to be generate asset value/cash cover during the investment tenure. Applicable to SPVs also.
• The strategy in selected cases may generate additional returns through warrants and equity investments as part of the debt investment.
• The strategy, selectively, also focuses on incomplete syndication processes and opportunistic secondary market investments in companies and sectors that are already well known to the firm.
• The strategy focuses on performing credit rather than stressed/distressed debt and loan-to-own debt investments.
• Focus will be on downside protection and not on upside maximisation.
• Our portfolios tend to be negatively skewed, with few losses and even fewer unexpected gains.

Our investment theme is focused on investment themes such as solving for inefficient capital structure leading to temporary cashflow mismatch, providing growth capital to companies, acquisition funding, special situation funding like last-mile funding etc. The Fund could potentially invest in:

• Inefficient capital structure leading to temporary cash-flow-mismatches situations: Tailored/structured solutions for companies facing temporary cash flow mismatch situations including refinancing with tenor elongation etc.
• Growth capital to companies: Growth capital to mid-market companies which do not have access to funding from banks/other traditional financial institutions.
• Special situation funding like last-mile funding: Last-mile funding to companies requiring additional funding to complete the final leg of their CAPEX plan.
• Acquisition financing: Acquisition funding to companies looking for inorganic growth through acquisitions.
• Turnaround financing: Companies with evident turnaround in business but still non approachable to traditional financing due to ratings, capital structure and other reasons.
• Stake Consolidation: Promoter funding for consolidation of stake in listed/unlisted companies.
• Mezzanine Structures: Holdco investment structures for part promoter contribution in Opco, stake buyout etc.

You can activate MTF through the PL DigiTrade app, client login, or by completing a physical sign-up via our offices.

Interest rates for MTF vary based on market conditions and the terms set by PL. Our team will guide you through the specifics when you apply.

We work closely with your family to develop a comprehensive legacy and succession plan that ensures a smooth transition of wealth and preserves your family’s values and influence. This includes family governance, estate planning, and the establishment of trusts or foundations.

Yes, the minimum investment varies based on the specific investment opportunity. Please contact our team for detailed information.

Returns generated through ND PMS are subject to capital gains tax. Long-term and short-term capital gains are taxed according to applicable laws.

The tax treatment of AIFs varies based on the category of the fund. Category I and II AIFs are pass-through vehicles where income is taxed in the hands of investors. Category III AIFs are taxed at the fund level, and investors are not directly taxed on the fund’s income.

Yes, AIFs are regulated by the Securities and Exchange Board of India (SEBI). They operate under a regulatory framework designed to protect investors’ interests and ensure transparency in operations.

AIFs come in various forms, each designed to meet different investment objectives. Here’s a brief overview of some key AIF types

• Performing Credit AIFs
  Focus on secured lending and investing in performing credit assets, offering steady returns by targeting companies with strong credit profiles.
• Real Estate AIFs
  Focus on investments in real estate projects or companies, offering opportunities for capital appreciation and rental income.
• Pre-IPO AIFs
  Invest in companies that are expected to go public soon, offering early access to potentially high-growth opportunities.
• Private Equity AIFs
  Invest in private companies, providing capital for growth, buyouts, or restructuring, with the aim of realising significant returns upon exit.
• Venture Capital AIFs
  Focus on investing in companies that are not yet listed on any stock exchange, often in niche or emerging sectors.
• Special Situations AIFs
  Target unique opportunities arising from corporate restructurings, distressed assets, or other atypical situations, aiming for significant returns by capitalising on market inefficiencies.
• Equity AIFs
  Invest primarily in listed equity shares, targeting capital appreciation over the long term.
• Multi-Cap AIFs
  Invest across companies of varying market capitalisations—large-cap, mid-cap, and small-cap—providing a diversified equity portfolio that balances growth and stability.
• Multi-Asset AIFs
  Allocate investments across various asset classes such as equity, debt, and real estate, offering diversification and balanced risk-adjusted returns.
• Hedge Funds AIFs
  Employ advanced investment strategies, including leveraging, short-selling, and derivatives trading, to generate high returns across different market conditions.
• Fixed Income AIFs
  Focused on generating steady returns through investments in bonds, debentures, and other debt instruments.

Yes, AIFs typically have a lock-in period that varies depending on the specific fund. This period is designed to match the investment horizon of the underlying assets and strategies. Investors should carefully consider the lock-in period before investing.

To get started with investing in PL’s Portfolio Management Services, you need to fill out a client registration form. You will also need to provide a set of documents such as PAN card, address proof, identity proof and bank account details to open a demat account. We can help you do all of it easily, get in touch with us here.

Yes, NRIs can invest in PL’s PMS through NRE or NRO account.

PMS is generally designed for high-net-worth individuals (HNIs) and other investors seeking bespoke portfolio management.

PMS offers personalized investment strategies, active portfolio management, and access to exclusive investment opportunities, ensuring a tailored approach to wealth management.

Risk is managed through continuous monitoring, asset diversification, and strategic rebalancing, ensuring that portfolios remain aligned with your risk tolerance and market conditions.

The returns generated by PMS are taxable based on the type of assets held. Long-term and short-term capital gains, as well as dividends, are subject to applicable tax laws.

Yes, PMS is regulated by the Securities and Exchange Board of India (SEBI) to ensure transparency and protect investors’ interests.

PMS could or could not have a lock-in period, but investors are encouraged to maintain a long-term horizon to fully realize the benefits of portfolio management.

For tax purposes, mutual funds are segregated into equity-oriented and debt-oriented schemes. If the investment made in equity-oriented mutual funds is for less than 12 months, you have to pay 15% tax on returns. For any duration exceeding that, you will have to pay 10% on gains exceeding ₹1 lakh. Returns on debt funds will be taxed as per your income tax slab.

You should invest in mutual funds for the following benefits: 

• Power of compounding gives you an opportunity to convert your savings into wealth
• Wide variety of schemes to choose from, and flexibility in investment amount and tenure
• Highly accessible 
• Better liquidity than fixed deposits
• Benefit of professional fund managers taking care of your investments
• No need to worry about timing the market
• Better risk-adjusted returns in the long run
• Diversification

Based on the asset classes in which they invest in, mutual funds in India are categorized into: 

1. Equity mutual funds
2. Debt mutual funds
3. Hybrid mutual funds 
4. Solution oriented mutual funds – for retirement and children 
5. Other mutual funds – index funds, ETFs and fund of funds

Based on organization structure – they are also categorized as open-ended and close-ended schemes. In the former, the units can be bought or sold any time. In the latter, the units can only be bought during their launch and redeemed after a fixed tenure. 

Based on management style, mutual funds are divided into active and passive. 

In each category, PL offers a wide variety of schemes that you can choose from, based on your risk profile and investment horizon.

We have tie-ups with all the top AMCs, thereby providing you with a diverse range of options to choose from. We have 40+ fund partners and offer schemes ranging from large, mid and small cap, to sectoral and thematic funds. Our experts understand your risk appetite investment needs, and help you choose the right mutual funds for your portfolio.

You can invest in mutual funds through our online mutual fund platform, DigiMF (web/app), offline (branches) modes, or through our call and invest facility. 

To invest online, follow these 3 simple steps:
1. Open an account with PL
2. Fill out the risk profiler-cum-asset allocation questionnaire
3. Select a fund that aligns with your financial goal, risk appetite and investment horizon

Write to mfss@plindia.com or visit your nearest branch for more details.

Enhance your mutual fund investment experience with PL DigiMF app, a one-stop solution for all your mutual fund investment needs. With DigiMF, you can: 

• Track MF investments: View mutual fund reports like portfolio performance reports, capital gains report, dividend report and many more.
• View Mutual fund online transactions: Purchase, redemption, SIP, STP & SWP

For more details on MF services, write to mfss@plindia.com  

Need Assistance? Contact

Direct: +91 22 6632 2351; Mobile: +91 9820710007

Wealth management services are essential for several reasons:

#1 Holistic Financial Planning: Access to experts who ensure that all aspects of your wealth are aligned with your long-term goals and financial aspirations.

#2 Customised Strategies: Get personalised strategies that are tailored to your risk tolerance, time horizon, and financial objectives.

#3 Expert Advice and Guidance: Seasoned professionals help you make informed decisions and meet your financial goals effectively.

#4 Risk Management and Diversification: Employ strategies to mitigate risk by diversifying your investments across different asset classes and geographies.

#5 Time Saving: You can stop worrying about managing your finances. Qualified professionals will handle your portfolio and ensure that you meet your investment objectives.

#6 Legacy Planning and Wealth Transfer: By working with wealth managers, you can create a plan to preserve and transfer your wealth through estate planning and wealth transfer strategies.

Investors can buy unlisted shares through PL. Get the best price and recommendations on the right unlisted shares to invest in with PL’s research-backed guidance. To get started, email unlistedshares@plindia.com or request a call here

Unlisted shares in India can be bought through qualified intermediaries like PL. With PL, you can get access to expert guidance on the right unlisted shares to invest in. To get started, email unlistedshares@plindia.com or request a call here

You can buy and sell unlisted shares through a registered financial intermediary like PL. To get started, email unlistedshares@plindia.com or request a call here

You can buy and sell unlisted shares through a registered financial intermediary like PL. To get started, email unlistedshares@plindia.com or request a call here

Value Stocks offers Stock Research, Stock Screeners, Portfolio Strategies, and Real-Time Market Data. It also provides 24*7 tracking of investments with active & strict monitoring for changes in earnings & quality outlook.

PL clients can start using Value Stocks by visiting https://pl.valuestocks.in/ , completing the necessary registration process, and investing in the preferred portfolio.

It is a premier destination for cutting-edge option trading analytics and insights.

Alphaniti products are built on Mathematical/ Statistical models. These performance focused baskets follow a rule-based and periodic/ dynamic rebalancing. This is based on intense research that combines Fundamental & Quant based Big data & Alternates.

To start using RoboTrade, simply visit https://robotrade.tech/pllogin and log in using your PL account

InstaOptions is designed to empower traders with the tools and information needed to make informed decisions in the dynamic world of options trading. It offers user-friendly screens with OI Analysis, speedy execution, and unique charts for trade analysis such as Combined Premium Chart and Trending OI.

If you are a PL client, then you can start using InstaOptions by visiting https://pl.instaoptions.in/login and login using your PL account.

Algorithmic trading, also known as algo trading, is the process of using computer algorithms to automatically execute trading orders in financial markets. It involves the use of pre-programmed instructions to analyse market conditions, identify trading opportunities, and execute trades without human intervention.

Yes, algo trading has the potential to be profitable as it provides improved speed, efficiency, and accuracy in trading. But the success of algo trading relies on several key factors, including the trading strategy’s efficacy, prevailing market conditions, and the risk management practices put in place. Traders should hence monitor, refine, and adapt the strategy to ensure consistent returns.

PL clients can start algotrading through our strategic partnerships with leading platforms including Alphaniti, InstaOptions, Value Stocks, and Robo Trade.

• Alphaniti – creates stock baskets using a data driven, rule based and tech led investment platform
• InstaOptions – offers cutting-edge option trading analytics and insights
• Value Stocks – provides strategies and stock lists based on predictive analytics and powered by Artificial Intelligence
• Robo Trade – uses advanced APIs to connect various trading platforms, analytical tools, and programming languages with your Trading Account

Some of the popular algotrading strategies are trend following, breakout, mean revision, momentum trading, volume weighted average price, risk-on / risk off. To learn more, get in touch with our expert team.

Yes, algo trading is legal in India.

Algo trading relies on sophisticated mathematical models and statistical analysis to make trading decisions. These algorithms are designed to take into account various factors such as price movements, volume, timing, and other relevant market data.

There are primarily two types of Fixed Deposits – Cumulative FDs and Non – Cumulative FDs. 

Cumulative Fixed Deposits:
In cumulative FDs, the interest earned is reinvested in the FD account at regular intervals (usually quarterly or annually), leading to compounding of interest. The maturity amount includes both the principal and accumulated interest.

Non – Cumulative Fixed Deposits: 

Unlike cumulative FDs, non-cumulative FDs pay out interest earnings periodically, either monthly, quarterly, half-yearly, or annually, depending on the investor’s preference. The investor does not enjoy compounding benefits here.

Income from the interest of fixed deposits is taxable as per the Income Tax Act,1961. 

The interest from FDs is added to the investor’s total income and is taxed as per the applicable income tax slab rate. 

Investors can avail deduction of up to INR 1.5 lakh for their investment in an FD under Section 80C of the Income Tax Act. This deduction is the principal amount invested in Tax – Saver FDs.

A fixed deposit functions like a loan given by the investor to a bank or NBFC or corporate. When you opt for a FD, you are essentially lending money to the institution. In return, the institution promises to repay the principal amount along with interest at the end of the agreed-upon tenure, known as the maturity period. Meanwhile, the institution utilizes these funds to extend loans to other borrowers, charging them interest. A portion of the interest earned from these loans is then passed on to you as the investor.

Fixed deposits enable you to earn higher interest on the surplus funds in your savings account. FDs enable you to invest a lumpsum amount for a specific tenure and pre-determined interest rate.

The FD interest you receive depends on the amount you invest as well as the tenure of investment. Different banks and NBFCs have pre-determined interest rates based on the duration. 

The interest accrued on a fixed deposit depends on the invested amount, the offered interest rate and the investment duration. The fundamental formula for calculation FD interest is: 

Interest on FD = Amount Invested X Interest Rate X (Duration / 12 months​)

However, the output will depend on whether you opt for a cumulative FD or non-cumulative FD. A cumulative FD is one where you will not receive the interest every year, but will receive it at the time of maturity. A non-cumulative FD is one where you will receive the interest annually.

For instance, suppose you invest ₹1,00,000 for 3 years at an interest rate of 7.5% per annum. In a cumulative FD scenario, the maturity value would be ₹1,23,438.

On the other hand, non-cumulative FDs pay out interest periodically, lacking the compounding effect. Additionally, their interest rates typically trail those of cumulative FDs.

You are eligible to invest in FDs if you fall under the following categories:

1. Resident of India
2. Non- resident Indian (NRI)
3. Senior Citizen
4. Minor
5. Hindu Undivided Families (HUF)
6. Sole proprietorship firms
7. Trust accounts
8. Limited companies
9. Partnership firms

PL is one of the best equity research houses in India. We have 8 decades of experience in navigating the Indian and global markets. We have the expertise to distinguish what will work and what may not. It is this ability and our perspective that our clients value us for. With our research, investors can gain a competitive edge, minimise risks, and achieve their financial goals effectively.

When analysing stocks, you can rely on fundamental, technical, and/or quantitative analysis. Research thoroughly and evaluate your own risk appetite, financial goals and investment horizon before you make any investments. You should also seek research-backed advice from PL’s qualified experts, when analysing stocks to buy.

Currency trading has the potential to generate great returns. You can reap the following benefits by trading in the currency market:

1. Diversification since they have lower correlation with equities
2. High liquidity as the market is large and global and operates round the clock
3. Solid leverage as foreign exchange brokers allow traders to borrow against a small amount of capital, thereby offering a chance to open a high position.

Currency derivatives are future and options contracts, through which you can buy or sell a specific quantity of a particular currency pair at a future date. 

It is similar to the stock futures and options. The difference is that the underlying asset here is the currency pair (ie, USD/INR, EUR/INR, JPY/INR or GBP/INR) instead of stocks. For example, as a currency trader, if you believe the rupee will increase in value, then you buy dollars with rupees. 

Alternatively, if you believe the dollar will appreciate further, then you buy rupees with dollar. If the exchange rate fluctuates as per your trade, then you will make a profit.

The currency market is where currencies of different countries are traded. It is also known as the forex market. Currency Market is touted to be one of the largest financial markets in the world. The currency market is highly liquid and dynamic. It enables traders to speculate on the value of one currency against another. Based on this, they buy and sell national currencies in approved pairs. 

This market has a diverse range of participants, including hedge funds, banks, central banks (like the RBI in India), corporations and investors. As a result, the trade volumes are high.
In India, currency trading occurs through the derivatives segment.

There are 7 permitted pairs for currency trading in India: USD/INR, EUR/INR, JPY/INR, GBP/INR, EUR/USD, GBP/USD, and USD/JPY. 

In this pair, the first currency is called the base currency and the second is the quote currency. The base currency is always fixed to 1 unit of that currency. Quote denotes the amount of this currency you need, in order to buy 1 unit of the base currency. This shows the value of the quote currency against the base currency. 

Traders aim to benefit from the fluctuation in the value of these currency pairs. Currency fluctuations occur due to a broad range of factors, including macroeconomic and geopolitical factors as well as inflation outlook, interest rate differential, and so on.

To trade in currencies, you can open a trading account with PL. Once your account is active, you can start trading. 

Make sure you understand the risks and accordingly trade in currencies. 

The benefit of trading in currencies with PL is that you get access to PL’s award-winning research reports and calls. Our industry leading analysts publish reports on market trends in the short and long term after analysing local and global factors impacting currencies. PL also provides dedicated relationship managers (RMs) along with the convenient call and trade facility. You can also trade online, with PL’s DigiTrade app. Write to currency@plindia.com for more information on PL’s currency services or account opening.

The currency market in India offers an attractive investment opportunity. 

Complete your KYC and open a trading account with a PL to get started.

Here are the necessary steps investors must follow:
• Get a PAN card
• Open a trading account with PL and complete KYC
• Understand the market, exchange rates, factors that impact it, different trading strategies, etc
• Understand your own risk appetite, investment horizon and goals
• Once you start trading, always stay informed

PL provides expert research calls and reports as well as personalised guidance to help you in trading in currencies

For hedgers and currency-based entities, we provide the following services:
• Customised solutions and advice as per specific requirement for hedging in currencies.
• Robust automated risk management system with state-of-the-art infrastructure
• Reports on market trends in the short and long term after analysing local and global factors impacting prices
• Brand and corporate parentage
• Investment plan for large clients, who want to invest in currencies

MCX stands for the Multi Commodity Exchange of India Limited. It is a commodity derivatives exchange that facilitates online trading of commodity derivatives transactions, thereby providing a platform for price discovery and risk management.

It is the leader in the trading of metals and energy commodities.

NCDEX stands for the National Commodity and Derivatives Exchange, primarily dealing in trading of agricultural commodities.

Compared to stock markets, commodity markets follow a different schedule, and trading hours vary depending on the commodity being traded and the exchange it’s being traded on.

MCX timings:
Operational from Monday to Friday –

1. Morning session: 9:00 am to 5:00 pm
2. Evening session: 5:00 pm to 11:30 pm (11:55 pm on account of daylight savings in the US usually between November – March)

• Agri commodities are available for trading until 5:00 pm, however some internationally linked agri commodities can be traded from 5:00 pm to 9:00pm
• Bullion, metals and energy commodities are available upto 11:30 pm / 11:55 pm
• Markets are closed on Saturday, Sunday and certain trading holidays declared by the exchanges on their website.

NCDEX market timings:

All commodities:
Monday to Friday – 10:00 am to 5:00 pm

Please note the above are general rules which are subject to change. Also, different commodities could have different timings, hence it is advisable to check the specific trading hours for the commodity you want to trade in on the exchange’s website.

Standard ID proof, address proof, bank details, income proof and signature proof:

1. PAN
2. Aadhar card / Passport / driver’s license
3. Bank statements / cancelled cheque / passbook
4. Bank account statements of last 6 months / 3 months salary slips or ITR
5. Signature of plain white paper

Open a commodity trading account with PL easily, click here to get started.
You can then start trading in commodities derivatives within minutes.
For any personalized solutions, you can also reach out to us:
commodities@plindia.com

The Exchanges levy an Annual Fee for maintenance of registration which is as follows:

BSE: INR 4,720, NSE: INR 5,900, and MCX: INR 1,180 (Including GST).

At the time of registration, the aforesaid fee for BSE and NSE is applicable for each segment, i.e., for NSE Cash, NSE F&O, and NSE CD, the registration fee is INR 5,900 each. Similarly, BSE Cash and BSE F&O is INR 4,720 each. MCX: Registration fee is ~INR 3,000.

It depends whether you are registering as an individual, partnership firm, LLP or body corporate.

To become an individual authorized person in the share market, you must:

• Be an Indian citizen
• Be at least 18 years old
• Have a clean legal record without any fraud or dishonesty convictions
• Possess a good reputation and character
• Have completed at least a 10th standard or equivalent examination recognized by the Govt.
• Maintain adequate space, equipment, and staff to fulfill your role effectively on behalf of the Trading Member.

To register as an Authorized Person as a Partnership Firm, LLP or Body Corporate:

• All partners and directors, as applicable, are required to meet the individual eligibility criteria mentioned above.
• The Partnership Deed and the Memorandum of Association must include a clause permitting dealing in Shares & Securities/Commodity Derivatives contracts

To become an Authorized Person, you need to fulfil the minimum eligibility criteria of age and education. 

Then, choose a SEBI-registered broker to partner with. This is important, as it will determine the kind of support you get in building and expanding your business over the years. With 30 years of experience in the franchisee business, PL has empowered over 2,000 entrepreneurs to thrive.

Once you’ve chosen to partner with PL, the process is straightforward. You only need to provide the following:

• Bank account details & cancelled cheque

• Pan card & aadhar card
• Education proof
• Passport sized photo
• Security deposit
• Exchange fees 

Rest assured, we’ll guide you through every step of registering as an Authorized Person with PL.

Yes and No! Regardless of whether you acquire an SGB in the primary or secondary market, capital gains upon maturity are exempt from taxation. However, if you choose to sell the bonds before maturity, the gains are taxable as below:

As per latest regulations, SGBs transferred on or after July 23, 2024 will be taxed at the rate of 12.5% without any indexation benefits if held for more than 12 months. Meanwhile, SGBs held for 12 months or less will continue to be considered as short-term capital asset and taxed at applicable slab rates. Do check with PL’s experts for latest updates on taxation.

In each financial year, the RBI issues the sovereign gold bonds in multiple tranches. 

The open and close date for subscription of each tranche, as well as the issue price are announced by the RBI. These gold bonds are then made available via intermediaries like PL. 

The Govt offers a discount of ₹50 per gram less than the nominal value to investors applying online. 

The gold bonds are denominated in multiples of gram(s) of gold, with the basic unit of 1 gm. During the subscription period, investors can invest in these bonds and redeem them after the maturity of the scheme. The tenure of the SGBs has been fixed at 8 years. But after the 5th year, investors have the option to exit. Redemption takes place at the prevailing gold price. 

RBI brings new series of SGBs for sale in the market throughout the year. So, if you miss the last one, you can always apply for them in the next issue.

If you have invested in SGBs, then it will be reflected in your demat account after its issuance. You can check its status any time in your demat account.

You can redeem the SGBs upon maturity, i.e., after completion of the 8th year or after the 5th year via the exchanges.

At the end of the tenure, the interest and redemption proceeds will be credited to your bank account. 

According to the RBI, in case of premature redemption, investors can approach the concerned intermediary (from whom they purchased the SGB) 30 days before the coupon payment date. The proceeds will then be credited to the bank account provided at the time of applying for the bond.

Investors looking to invest in gold as a hedge against inflation and volatility should consider investing in SGBs. As outlined above they are low cost compared to other gold investment options. 

Investors who have a long-term investment horizon and are willing to hold on to their investment for at least 5 years can maximize their benefits. 

Investors also looking to add gold to diversify their portfolio should consider SGBs.

Person’s resident in India as defined under Foreign Exchange Management Act, 1999 are eligible to invest in SGB. 

You can apply for the Sovereign Gold Bonds if you are:

• Resident individual
• Resident individual on behalf of a minor
• HUFs
• Trusts, universities, and charitable institutions

Yes. The application on behalf of the minor must be made by his/her guardian.

To apply for an IPO, you need to open a Demat account. You can open a Demat account with PL within minutes.

Once your account is opened, you can apply for an IPO through our website or app by following a few simple steps and get an instant confirmation on your bid.

Open a demat account with PL
Login to your PL account
Select the IPO you want to invest in; click on bid
Enter number of lots and your price
Enter UPI id and submit
Complete transaction on your UPI app by accepting the mandate request

Experience the ease of online IPO bidding with PL:
Place your IPO bids in under five minutes
Get instant bid confirmations from the exchange in real-time
Effortlessly track your bid status
Hassle-free automatic refunds to your bank account in case of non-allotment
Stay updated on ongoing/upcoming IPOs, including key details like issue dates and price bands.

You can check the IPO allotment status through your PL client login.

Alternatively, you can check the status through the IPO registrar’s website or BSE’s website. You can check allotment status by entering PAN number or IPO application number and demat account number.

You will also be informed about the allotment by email and SMS from BSE, NSE, CDSL and NSDL.

When small and medium enterprises (SMEs) launch an IPO, it is called an SME IPO. A SME IPO is a process through which small and medium-sized companies raise capital by offering their shares to the public for the first time.

In India, the IPO of any company with a post issue paid up capital between ₹1 crore and ₹ 25 crore can qualify as an SME IPO.

SME IPOs are tailored to meet the financial requirements of smaller businesses. They are governed by different sets of regulations and are generally less complex compared to IPOs of larger companies.

AQUA is a flexicap equity PMS strategy from PL Asset Management. It stands for Adaptive. Quantitative. Unbiased. Alpha. 

It integrates diverse analytical sciences, including macroeconomics, sectoral analysis, fundamental factors, valuations, technical indicators, and risk analysis. This confluence of techniques forms what we call a “quantamental” approach, meticulously designed to offer a holistic approach to investment.

Yes, NRIs can invest in AQUA through NRE or NRO account.

No, RBI approval is not required to open a Demat account.

But for NRIs to trade or invest in India Stock Market on a repatriation basis i.e via a NRE demat account, one needs a Portfolio Investment Scheme (PIS) approval from RBI. PIS enables NRIs to buy and sell securities in India from the stock exchanges by routing these transactions through their NRE Bank Account. 

If you are planning to invest on a non-repatriation basis, you do not need the PIS approval from the RBI. You just need an NRO Bank Account linked to your NRO trading and demat account.

Yes, NRIs can open a joint NRI Demat account in India if the NRI is the primary holder of the PIS, Non-PIS and Demat Accounts. The joint holder in a NRI demat account can be either a Resident Indian or another NRI.

NRIs can open 2 types of accounts – Repatriable & Non-Repatriable – with details of respective Bank accounts.

To download the sample form click here

1. Individual Account Opening Form (AOF) & KRA cum CERSAI KYC Form of all holders
2. Pan Card of all holders
3. Passport / PIO Card / OCI Card (any one mandatory)
4. Proof of Correspondence Address
5. Proof of Permanent Overseas Address (if different from Correspondence address) (Mandatory if Correspondence address is that of a third party i.e. C/o address)
6. Applicant’s declaration that he has complied with & will continue to comply with FEMA regulations and other applicable laws (part of AOF)
7. Proof of Bank Details – NRE/NRO Savings Bank Accounts – mentioned on AOF
8. Mariners Declaration or Certified copy of CDC (Continuous Discharge Certificate) for Mariner NRI
9. Applicant’s undertaking with complete Residential Address (other than PO Box address) if he submits an
10. Overseas Post Office Box address as Correspondence / Permanent address (part of AOF)

Note for USA and Canada Based NRI’s few guidelines to be followed.

1. At the time of account opening client should be in INDIA.
2. Self self-attested copy of the Latest immigration page containing the latest arrival stamp of the visit to INDIA is required.
3. Online/Mobile Trading is not allowed.

Yes, NRIs are allowed to Invest in Exchange Traded Funds (ETFs). NRIs can invest in ETFs both on repatriation as well as non repatriation basis.

A few of the products that NRI’s can invest in are –  

Equity* – Only cash

Derivatives / F&O (only via NRO a/c i.e. non – repatriation basis) 

Mutual Funds (except NRIs of USA and Canada)

IPOs (except NRIs of USA and Canada)

ETFs

Fixed Deposits

Insurance 

Bonds (sovereign gold bonds are not an available option)

Real Estate  

*Intra-day trading is not permitted for NRIs. An NRI Investor has to take delivery of shares purchased and give delivery of shares sold.

Yes, clients can have two separate trading accounts based on NRE & NRO.

India would have a double tax avoidance agreement (DTAA) with a lot of the countries. Depending on which country you are investing from, you need to check what is the DTAA of India with that country.

Generally for NRIs investing in Indian equities, more than 1 year is treated as long term and long term capital gain on equity is taxable at 10%. Short-term capital gains from equity are taxable at a flat 15%. If you are investing in debt, then it is taxed as per your slab.

NRI Demat account is an account that enables NRIs to buy, sell and hold shares and securities in India, and store them in an electronic format.

For the purposes of investments in shares/securities in India, Person of Indian origin means a citizen of any country other than Pakistan or Bangladesh, if
a) at any time, has held an Indian passport; or
b) either parents or grandparents were a citizen of India by virtue of the Constitution of India or Citizenship Act, 1955 (57 of 1995); or
c) is a spouse of an Indian citizen or a person referred to in clause (a) or (b)

Yes, PIOs and OCIs can invest in shares in India.

Yes, NRI can participate for buyback of shares

For NRIs, Long Term Capital Gain on equity is taxable at 10 per cent exceeding Rs.1 lakh exemption,Short-term capital gains from equity are taxable at a flat 15 per cent.

Yes, except US & Canada based NRI all other NRI’s can avail online Trading facility.

No, for NRI Commodity trading facility not available

No, for NRI Currency Trading facility not available

NRO (Non Resident Ordinary Account) & NRE (Non Resident External Account)

Yes, except US & Canada based NRI, other country NRI can participate in IPO. While seeking the credit of sale proceeds of IPO shares to NRE/NRO bank account, the designated bank should be provided with the details regarding date of allotment and cost of acquisition to calculate the taxes, if any.

Yes, apart from US based NRI, NRI can participate for Rights.

Yes, NRI can avail portfolio management services. However NRIs will have to open a PIS Account as required under RBI guidelines in order to invest in the PL-PMS scheme.

No, BTST not allowed, NRI can only buy shares when they have clear funds in PIS bank a/c and sell shares only when they clear stock balance in demat a/c

No for NRI SLBM facility not available.

Yes, US /Canada based NRI can open Trading & demat account but few NRI guidelines needs to be followed.

At the time of account opening client should be in INDIA.

Self attested copy of Latest immigration page containing latest arrival stamp of visit to INDIA required.

-Online/Mobile Trading not allowed.

No, any NRI or a PIO can have only one PIS account in India. Say for example if he is having a PIS account with X bank and he wants to shift to HDFC Bank, then he has to close the PIS account there and open a PIS account with HDFC Bank.

NRI can avail following Product & Services- Equity Broking, PMS, Mutual Funds, Insurance, IPO & Real Estate

No, Aadhar card is not mandatory for NRI

Yes, NRIs are allowed to invest in futures & options segment thru NRO a/c on non repatriation basis only

Yes, NRI can participate for OFS of shares

Yes NRI can invest in Mutual funds in India. Only for US & Canada based NRI, few AMC’s (Asset Management Company) has restricted Mutual Fund investments.

Yes, you can open both NRO & NRE Trading/demat a/c

Following documents are to be collected alongwith Account Opening Form (AOF) while registering NRI / PIO / OCI Clients

1. PAN Card

2. If Indian Passport – First and last page of passport, Valid Visa

3. If Overseas Passport – Front page of passport which carries client photo and passport details.

4. OCI or PIO card (if available)

5. Foreign address proof — Any one of — Driving License, bank statement or Electricity bill (latest)

6. NRO/NRE Saving and PIS bank account proofs — Cancel cheque leaf for saving account and PIS permission for PIS account.

No, intra day trade not allowed for NRI,NRI Investor has to take delivery of shares purchased and give delivery of shares sold.

If NRI has Aadhar card then it has to be linked with PAN but its not mandatory if NRI do not have Aadhar.