Mumbai: HDFC Securities customers have been complaining of a mismatch between stock quotes displayed by the mobile application and those available online. There have also been instances of distorted portfolio valuation numbers experienced by the stock broker’s customers.
Responding to query from TOI, an HDFC Securities spokesperson said that it was an “intermittent issue” and the brokerage firm was working with vendors to identify the root cause of the problem.
Users have been complaining that the live prices displayed by HDFC Securities do not represent the actual prices, which could result in investment decisions being taken on wrong information. Also, for those who take an asset allocation approach to investment, an incorrect portfolio valuation could result in them buying or selling shares when they did not plan to.
Ramesh Surwade, an HDFC Securities customer, who has been documenting the discrepancies, pointed out how when the app shows a portfolio at a loss of Rs 14,770, the web portal displayed a portfolio that was in profit by Rs 42,298. “These are not intermittent issues. This has been happening consistently and continuously without exception,” Surwade said.
According to market sources, the accuracy of live quotes depends on the agreement between the exchange and the service provider. In cases where quotes are being provided only for information, the websites have an agreement to provide delayed quotes.