On the right is the screenshot of Upstox's span calculator for IDEA: Upstox's margin calculator
I just want to confirm if I am understanding this right or not? So, according to my understanding, it goes like this:
The price of IDEA is ₹46.2/share and if I want to buy 20 shares of IDEA at this price, the total amount is ₹46.2*20= ₹924. Now,in the screenshot, the total margin required is ₹84.18, hence they are providing a leverage of 924/84.18 = 10.97 times. Am I correct?