The Margin (Haircut Percentage) varies for different stocks based on their Risk Level and Liquidity.
The Risk Management Team decides the margin requirement for each stock based on:
✔ Stock volatility
✔ Liquidity in the market
✔ Past price movements
✔ Company fundamentals
Highly volatile stocks or illiquid stocks may have Higher Haircut Percentages, reducing the margin you get from pledging.