How is the average price updated for transferred stocks to upstox account from another demat account

General
1

It’s very important and i am facing this issue with my client and myself. My client had transferred shares from another demat account to Upstox account couple of months back. Previous week she sold some of those stocks, now if she reviews the P&L statement, these stocks are no where reflected in the P&L. This is so weird. Now how do i know the profitability from those stocks. There is no transparency at all.
In fact once the shares are transferred, there should be an option to update the average price manually for the transparent reporting.
What is the solution for this issue. I also have to transfer few shares to Upstox. If there is no clarity in this, i have to rethink on my transfer decision

Thanks
I hope you provide me with the solution asap

2

Hello @Krishna_kant,

To understand how average price is calculated, you may visit: How is the average price calculated for Delivery positions ? - Upstox Help Center. For anything else, you can get in touch with us.

3

I think you did not get my question well. I was asking why i can’t the profit/loss from the stocks sold which i had earlier transferred to Upstox from another demat account.
For ex. In the year 2021, I bought 100 shares of RELIANCE in ABC broker demat account for INR2000/share. After 2 years in the year 2023, I transfer these shares to Upstox and i sell the same shares for INR 2500/share in my Upstox account. NOW THE ISSUE IS WHY PROFIT FROM THESE SHARES ARE NOT ACCOUNTED FOR IN MY P&L REPORT IN UPSTOX. THESE SHARES ARE LITERALLY NOT TAKEN IN TO ACCOUNT FOR P&L. This is a very major issue. Can you clarify this

4

Hey @Krishna_kant,

We hope the call from our team was helpful regarding your average price concern. We are already working on a mechanism to update the average price manually within the app. This should be out in our next month’s update which would resolve any pending concerns related to average price calculations. Thanks.

5

Thanks for the update. I hope you come up with the mechanism by next month

6

i have been having same issue- regretting using Upstox to transfer from other DEMAT - been 6 monts , still waiting to get this resolved!! FRUSTATING

7

I HAVE SENT MULTIPLE CHASER - NO ONE CARED TO REPLY – I WAS TOLD THIS WILL BE FIXED BY End of DEC - its mid of JAN, still no reply!!

8

Hey @Krishna_kant & @UK_Mohit,

We are pleased to inform you that the manual average price updating for transferred shares is now live for all transfers done since January 1, 2024.

To update the average price, please follow the below steps:

  • Log into your Upstox account.
  • Navigate to ‘Accounts’ >>> ‘Profile’ >>> ‘My Accounts.’
  • Click on ‘Reports’ >>> ‘Holdings Report.’
  • Select ‘Reports’ >>> ‘Holdings’ >>> ‘Discrepancies.’ (currently, this will be visible only if you have stocks transferred post 1st Jan 2024)
  • Choose the stock to update.
  • Click ‘Update’ and fill in details (purchase date, transferred quantity, average price, and type).
  • Hit ‘Save.’

For transfers done before 1st Jan 2024, we’re actively working on it and will have it available soon. Thanks a lot for your patience!

9

Thank you for the update…

I had done transfer in Jul 2023… which means will have to wait further,

If I sell stocks, what price will be used for tax purposes?

10

Hey @UK_Mohit,

Tax will be calculated as per the average price entered for the transferred shares.

11

Got it… Where can I see this avg transfer price?

I can’t zee any price as of now?

12

Hey @UK_Mohit,

For now, this feature is visible for users who transferred the shares post 1st Jan. You will be able to see this feature for your transferred shares soon. It should be visible to you in and around the coming month. Stay tuned!

13

Thanks … when exactly pls… I was told in July last year that It will be done by end of December… now you are saying soon? Is it going to be another 6 months or longer?

14

Hey @UK_Mohit,

It should be visible to you by February 2024.

15

@Ishaque

Thanks for your mail

1 Like
16

Anything yet on above subject pls

17

Hey @UK_Mohit,

We have opened this feature for users who transferred their shares post Jan 2023. You should be able to see this feature for your transferred shares assuming you have transferred them in July '23 (referring to our chat history). Please check and let us know if you need any further assistance. Thanks.

18

Thank, I had transferred shares in July,but still can’t see avg buy price.

Pls can you help

19

Hey @UK_Mohit,

Do update the app to the latest version and follow the below steps:

  1. Log into your Upstox account on web
  2. Click on ‘My Accounts’ → ‘Reports & Corporate Actions
  3. Click on ‘Holdings’ → ‘Discrepancy’ (currently visible only for shares transferred after 1st Jan 2023)
  4. Select the shares that need to be updated. Click on ‘update
  5. Fill in the necessary details, such as the purchase date, transferred quantity, average price and type then click on the save button.

You may also visit this link: Upstox Accounts. Let us know if you face any further issue. Thanks.

20

Hey Ishaque, I have transferred few shares of TATA CHEMICALS from another broker’s demat account to my mother’s upstox account FZ3308, and i have updated the average price under Holdings > Discrepancy just yesterday. Currently the status of update of average price shows as ‘Completed’. But i cannot see the unrealised profit from TATA CHEMICALS in Unrealised P&L account. Can you pls check and revert because the average price is showing as ‘Completed’
Thanks in advance