When I tried to sell a stock I got the following message:

"the stock is in restricted mode" and my sell order was rejected.

What is that?

Can you tell me the broker and the stock?

I have no idea that "restricted mode" means.

Maybe your broker doesn't allow trading in that stock.

Brokers can disallow trading in specific stocks if they feel the stocks are risky.

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Stock name: Pitti Laminations.
Exchange: NSE / delivery.
Broker: Karvy.

I tried to sell those shares in my collateral account which I bought few months back using online platform.

I contacted them and asked the same question they said you can't sell them you need to mail us with details and they will place the sell order.

Has anybody facing this problem with this scrip?

Thanks
Ram

It is a broker-specific issue.

For some reason, Karvy isn't allowing trading in that Pitti Laminations.

I tried to place an order via my broker (Kotak Securities) and I was able to place an order.

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I too was able to buy myself using online platform.
sachinjee can you take delivery of one share and try to do delivery based sell ?

It's a waste of time and money.

A demat transaction costs Rs 10 - Rs 50 (depending on the DP).

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My first thought was that since you had bought the stock some time back and were hold it in your demat account, you would first have to block it (mark it for selling) to sell it.

But since you said you contacted them and they said they would manually place your order, it is possible the stock is on your broker's volatile or some other list which is why he doesn't allow trading in it. My broker often does this. My broker also doesn't allow intraday in IPO stocks on listing day. Once when I called them, they replied that on listing day the stock is very volatile (which is correct), and that the exchange also doesn't like it, but other brokers allow it, so I don't know why my broker is so stuck with rules.

Of late I found today that I can't even place a Pitti Lamination share for delivery the same message is coming that it's in restricted mode.

Maybe it was kept in that mode after I bought it long back.

hi prashantjee who is your broker?

I received a quick response from karvy people for my email query.

The matter is due to compliance issue, they are treating this as a penny stock and I can't sell the scrip myself.