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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?
If you are required to put up 84.18 of the 924 then they are providing 839.82 in margin.
That means that you are putting up 9.11% of the purchase price and they are advancing you 90.89% of it.
So yes, the leverage would be 10.97 (924/84.18)
