Mumbai, April 10 – The National Stock Exchange of India Limited (NSE) on Friday cautioned investors and traders against dealing with unauthorized individuals offering stock market tips and guaranteed returns, citing cases involving online platforms.
The exchange said it has come across a person identified as 'Nitin', operating a Telegram channel named 'Everyday Power Of Stocks', who is allegedly providing securities market tips, promising guaranteed returns, and offering account handling services to investors.
In a separate case, the NSE flagged an individual named 'Satendra Dubey', associated with an entity called 'Wealth Trading', for allegedly providing illegal trading services through multiple online platforms, including a website, mobile application, and social media platforms like Facebook groups and Instagram.
The exchange clarified that the individual is not registered as a trading member or an authorized person with any of its registered members.
Advising caution, the exchange urged investors not to subscribe to any scheme or product that promises assured or guaranteed returns in the securities market, noting that such offerings are prohibited by law.
Investors have also been advised not to share sensitive trading credentials such as user IDs and passwords with any third party.
The NSE also said that details of registered brokers and authorized persons can be verified through its official 'Know/Locate your Stock Broker' facility available on its website.
It further warned that participation in such unauthorized schemes would be at investors' own risk, as these are neither approved nor endorsed by the exchange.
"In case of disputes arising from such prohibited activities, investors would not have access to exchange-backed mechanisms such as investor protection benefits, dispute resolution or grievance redressal frameworks," the exchange said.
Domestic equity benchmarks Sensex and Nifty traded 1 per cent higher each in early trade on Friday.
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