ICICI Securities launches ‘I-Alert’. 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. ”
This feature will function on both I-Direct website as well as mobile app and is applicable on ‘Cash Buy’ orders section.
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