Hong Kong Stock Exchange · Basic Materials
Invest in Red Avenue New Materials Group stock from India
Indian and foreign residents can buy Red Avenue New Materials Group (9607) shares directly through Paasa.
By Paasa · Updated
Red Avenue New Materials Group at a glance
- Price
- HK$40.32+HK$0.12 (0.30%)
- Market cap
- HK$24.72B
- Day range
- HK$36.00 – HK$41.20
- P/E
- —
- Dividend yield
- —
- Volume
- 305.20K
How to invest in Red Avenue New Materials Group from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit, and Interactive Brokers converts the dollars to HKD when you buy.
Step 3
Search 9607 and buy
Find Red Avenue New Materials Group by name or by its ticker, 9607, and place your order. Many Hong Kong listings trade in board lots, so the smallest order is one lot rather than one share.
Why invest in Red Avenue New Materials Group from India
What Red Avenue New Materials Group does
Red Avenue New Materials Group Co., Ltd. manufactures materials for the tire, electronics, and biodegradable materials industries. The company operates through three segments: Rubber Additives for Tyres and Other Chemical Products, Electronic Materials, and Fully Biodegradable Materials. Red Avenue New Materials Group operates in the Chemicals - Specialty industry within the Basic Materials sector.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Frequently asked questions
Can I buy Red Avenue New Materials Group stock from India?
Yes. Indian residents and NRIs can buy Red Avenue New Materials Group (9607) shares directly through Paasa. Red Avenue New Materials Group is listed on the Hong Kong Stock Exchange, in the Chemicals - Specialty industry. Your money leaves India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name at Interactive Brokers.
Do I need to buy a full Red Avenue New Materials Group share?
Usually more than one, and not a fraction: many Hong Kong listings trade in board lots, so the smallest order is one lot rather than one share. At HK$40.32 a share, size the order by the lot, not by the share.
How are Red Avenue New Materials Group dividends taxed for Indian investors?
Red Avenue New Materials Group trades on the Hong Kong Stock Exchange but is domiciled in China, so any withholding on its dividends follows that country's rules rather than those of Hong Kong. Dividends are taxed at your slab rate in India. Paasa's dividend report shows the gross amount and any tax withheld for each payment.
What tax do I pay in India when I sell Red Avenue New Materials Group shares?
Hong Kong generally does not levy capital gains tax on non-resident individual investors for HKEX-listed stocks. In India, gains on shares held for more than 24 months are long-term and taxed at 12.5%, and gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the HKD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.