The current version of your web browser is outdated. Request you to update the same to experience our website at its best.
A list of most popular web browsers are available for download below:
What is Max Multiplier (Cover Order)?Max Multiplier is a variant of our Margin Intraday Square-off (MIS) product.It is a two leg order where client places buy/sell order along with corresponding stop loss order.Positions taken under Max Multiplier have to be squared-off (either by customer or through stop loss hit) before 3:10pm or else RSL will square-off the positions at market price.
What are the benefits of Cover Order over MIS Product?Clients can take leverage as per their risk appetite. In this product client can take maximum exposure up to 33.33 times in cash market.
How does it function?Max Multiplier is a two leg order where client places buy/sell order along with corresponding Stop Loss order. Client has to input the trigger price for the second leg in the same order.First leg (buy/sell) is placed at market.Second leg is a Stop loss market order. It remains pending till trigger price is not reached. Once price reaches the trigger price, the order becomes active & executed as market order.Trigger Price: Client has to enter the trigger price within the range (stop loss range specified by RSL) which is displayed on the screen. For example if scrip is trading at Rs.100 and range is specified as 3%, i.e. the client can specify any price between 97 to 100 as trigger price.Once the first leg is executed, second leg (stop loss order) cannot be cancelled. It can only be exited from the order book. Exiting means placing a market order.Cover order can only be cancelled till such time first leg is not executed. In a very rare scenario, if the first leg is not executed the order book will display the status as “Open” for both the orders.Once the first leg is executed, order book will display status as “Completed” for first leg and “trigger pending” for second leg.
Can Stop Loss order be modified once the first leg is executed?Once the first leg is executed, Stop Loss order can be modified till such time it doesn’t reaches the trigger price. If you modify the stop loss order, margin requirement will be recalculated and blocked accordingly.
Can Stop Loss order be cancelled?If first leg of the order is traded/executed then Stop Loss order CANNOT be cancelled. However Stop Loss can be converted to market order.If first leg of the order is NOT traded/executed and goes into pending orders, then Stop Loss order alone CANNOT be cancelled.If first leg of the order (which is not yet traded/executed) is cancelled by the client then Stop Loss order will be cancelled by the system automatically.
Where is cover order enabled?INSTA EXPRESS/NEST TRADER: To place a cover order, user needs to select buy cover order entry / sell cover order entry from the Orders & trades menu. This includes dealers and clients using EXE version.Online (INSTA PLUS): To place a cover order, user needs to select CO from product code drop down.
How can Cover Order be entered post login on EXE and Internet version trading?In Exe version, cover order can be entered through “Orders and Trade” option.In Browser/internet version it can be entered by selecting "CO" from product dropdown.
In which segment is Cover Order allowed?Cover order can be placed by client in CASH segment of NSE (Scrip basket defined by RSL) & for 3 Index futures “NIFTY”, “MINIFTY” and “BANKNIFTY”.
Is the Stop Loss range different for different scrips?Stop Loss Range is specified by RSL at scrip level & varies from scrip to scrip.
On what basis is margin requirement calculated for Cover Order?Margin requirement is calculated on the basis of difference between LTP (while placing the order) & the trigger price specified. X multiple (Multiple will be defined by RSL) of such difference will be blocked as margin.Example:RIL is trading at Rs.750. RSL has specified the Stop Loss Range as 4% and Multiple as 2. Client places a cover order to buy Reliance while specifying the trigger for the second leg as Rs.730. Margin Blocking: Difference between LTP and trigger price (750 – 730) is Rs.20. Margin will be blocked as 2 times of Rs. 20 which comes as Rs. 40.In percentage terms margin is blocked as 5.33% resulting in to an exposure of approx 18.73 times.Please Note: RSL has specified the Minimum margin to be blocked for cover order in case user enters a trigger price which is less than the minimum stop loss percentage specified by RSL.
Can client take exposure against collateral (RSL approved stocks) for placing a Cover Order?Yes, client can take exposure against collateral.
Would the client be charged for this facility?No. Client would not be charged for this facility except for brokerage and other levies as applicable on client trades.
Can I convert securities purchased/sold under Cover Order to CNC, NRML?No. Positions taken under cover order cannot be converted to any other product.
Till what time can the order be placed under Cover Order?Orders can be placed any time prior to 3:10pm.
How many stocks and Futures contracts are available for trading on Max Multiplier (CO)?To start with effect from 11th Nov 2011 there are 226 scrips in cash segment and 3 current month futures contract (Nifty, Mini Nifty, Bank Nifty) are available for trading in CO. This list is may be changed by RSL due to market volatility without any prior notice.
Can Reliance Securities increase margin requirements or exclude certain scrip from Cover Order?Yes, Reliance Securities can exclude scrip from time to time and may increase margin requirements for certain scrip as deemed fit by its risk management team for uneven market conditions. This facility may be disabled any time by RSL due to Volatile market conditions on any given day of trading.
Can Reliance Securities disable this facility for a day or two due to adverse market conditions?Yes, if market is very volatile, Risk management may take this action.
Can a customer buy/sell Stock and Index Futures in MIS Product who has open position in Cover Order?Yes, such customer can buy / sell stock and Index Futures in MIS Product. However such position should be squared-off before 3:20pm.
Can a customer trade in NRML Product if he has open positions in Cover Order?Yes, such customer can trade in stock or index futures/options in “NRML” product. However normal margin will be levied as specified by exchange.
Who can avail this Cover Order product?Cover order is allowed to all customers of RSL which includes Direct as well as Franchisee customers.
Will this facility be offered to all new customers?Yes, this facility will be offered to all new customers by default. There is no endorsement required for this.
Our operational timing : 8.30 am to 4.30 pm, Monday to Friday.
022 39886000 | 022 25816000
022 26856000 | 022 33506000
Partner Desk : 022 39896789
*At the time of contacting us, please keep your account details ready for our customer service executive to assist you promptly.
Equities Capital Market:
INB 231234833 | BSE:- INB 011234839
NSE:- INF 231234833 | BSE:- INF 011234839
NSE:- INE 231234833 | BSE:- INE 011234839
CDSL SEBI Registration Number Depository Participant:
NSDL SEBI Registration Number Depository Participant:
Mutual Funds :
AMFI ARN No.29889
SEBI Research Registration Number :
IRDA Corporate Agent (Composite) Registration Number :
CA0195 (valid till 31-Mar-2019)
Corporate Identity Number:
Brokerage will not exceed the SEBI prescribed limit. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Insurance is a subject matter of solicitation.
Compliance Officer :
Mr. Palkesh Shah (email id: email@example.com
In case of grievances for Securities Broking write to us at:
and for DP: