NSE warns investors against persons promising assured returns in stock market
The exchange said in a statement that investors are cautioned and advised not to subscribe to any such scheme/product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market, as the same is prohibited by law.
The National Stock Exchange (NSE) issued an advisory on Wednesday cautioning investors of certain individuals and Telegram channels offering securities market tips and assured returns on stock market investments.
The exchange said in a statement that investors are cautioned and advised not to subscribe to any such scheme/product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market, as the same is prohibited by law.
The NSE said that a person named "Ajay Kumar Sharma" operating through the mobile number "7878337029" and Telegram channel "Bharat Trading Yatra" and an individual named "Ranveer Singh" operating through the mobile number "9076273946" and Telegram channel "Bullish Stocks" -- are "providing assured returns on investment in stock market and offering to handle trading account of investor by asking investors to share their Login ID/password".
"It may also be noted that the said person/entity are not registered either as a member or authorised person of any registered member of the NSE," said the exchange.
The stock exchange also advised investors not to share their trading credentials, such as user ID/password, with anyone.
In addition, the NSE mentioned that participation in such prohibited schemes is at investors' own risk, cost and consequences as "such schemes are neither approved nor endorsed by the exchange".
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