Automated alert mechanism to safeguard customers' investments
Mumbai, February 15, 2021 - ICICI Securities (I-Sec), one of India's largest equity house with 5+ million customers, today announced the launch of 'i-Alert', an automated alert mechanism on ICICI direct platform to help investors gauge the risk associated with the stocks that they choose to buy. The mechanism will prompt the customers when they initiate purchase of stocks with weak fundamentals so that they are aware of the risks associated.
i-Alert will prompt the investor when they initiate purchase of a particular stock that satisfies any of the below criteria:
- If the stock's Current Market Price is less than ₹5 and is considered a Penny Stock
- If the stock has its Promoters pledging 100% of their holdings
- If the stock has witnessed a fall of more than 90% in its price in last 6 months
- If the stock has reported losses in last 5 consecutive years
Mr. Vishal Gulechha, Head - Retail Equities, ICICI Securities says, "As large number of new, first-time investors continue to join the market, it is imperative that they are aware of risks associated with speculative investing. i-Alert does precisely that, red flagging stocks which meet any of the predetermined criterion based on promoter pledges, steep price erosion or lack of profitability. Retail investors are better off focusing on fundamentally strong companies which are backed by research, for long term wealth creation."
This feature will function on both I-Direct website as well as mobile app and is applicable on 'Cash Buy' orders section.
About ICICI Securities
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services.
I-Sec operates www.icicidirect.com, a virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its three lines of businesses -- broking, distribution of financial products, and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.
I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). For details, visit: www.icicisecurities.com
Brokerage will not exceed the Exchange prescribed limit.
Except for the historical information contained herein, statements in this release which contain words or phrases such as 'will', 'expected to', etc., and similar expressions or variations of such expressions may constitute 'forward-looking statements'. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the actual growth in broking business and other financial services in the countries that we operate or where a material number of our customers reside, our ability to successfully implement our strategy, including our use of the Internet and other technology our exploration of merger and acquisition opportunities, our ability to integrate mergers or acquisitions into our operations and manage the risks associated with such acquisitions to achieve our strategic and financial objectives, our growth and expansion in domestic and overseas markets, technological changes, our ability to market new products, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to implement our dividend policy, the impact of changes in insurance regulations and other regulatory changes in India and other jurisdictions on us. ICICI Securities Limited undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
ICICI Securities Ltd. ( I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Centre, H. T. Parekh Marg, Churchgate, Mumbai - 400020, India, Tel No : 022 - 2288 2460, 022 - 2288 2470. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730) and BSE Ltd (Member Code :103) and having SEBI registration no. INZ000183631.
Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: email@example.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing.
The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon.
I-Alert feature is offered by ICICI Securities. Any complaint / dispute pertaining to the same would not be entertained by Stock Exchanges.
For further details, contact: