Available Margin is the maximum exposure a client can have at Kotak Securities at any given point of time for trading. A multiple is applicable for each scrip, however the multiple can differ for different scrips. For a normal account we provide a 4 times exposure on the margin available, subject to the multiple of the scrip. Total Margin = {Base Capital + Initial Margin + Delivery Trade Value + Deemed Ledger +/- Non MF P/L (actual Profit or Loss from a square-off transaction till the settlement day in case of Cash Market and Square-off Profit on Futures Transactions) + Security Margin +/- Premiums (earned/payable on Options) - Mark-to-Market loss (if any)}. Margin Available = Total Margin - Margin Utilised.