The Bombay Stock Exchange (BSE) has issued an advisory warning investors against unsolicited investment messages and calls promoting ‘A-1 Ltd’ through WhatsApp, social media platforms, and unauthorised entities
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The Bombay Stock Exchange (BSE), while issuing an advisory, has warned investors of unsolicited messages being circulated through social media, WhatsApp and calls regarding investment in 'A-1 Ltd'.
The Bombay Stock Exchange (BSE), while issuing an official statement, noted that "investors are advised to exercise due caution and refrain from dealing based on such recommendations by unauthorised or unregistered entities, including those received through WhatsApp, Telegram, SMS, calls, other social media platforms, etc.," as reported by news agency IANS.
BSE, the nation's oldest stock exchange, further highlighted that they have come across instances where unauthorised bodies issue investment recommendations through various channels for this particular stock.
BSE cautions investors
While cautioning the investors against the fraudsters, the BSE also noted, "Investors are also cautioned against getting trapped through claims of high/assured returns from trading in the securities market through social media platforms, including YouTube, Telegram channels, WhatsApp channels, Instagram, X (formerly known as Twitter), etc.," as per IANS.
Earlier in December, the National Stock Exchange (NSE) had also alerted investors about five individuals, namely Krishnam Raju, Pratiban, Pooja Sharma, Aman, and M Amit, for overproviding unauthorised investment tips, reported IANS.
The NSE further said that these persons offer to handle investors' trading accounts, assuring them guaranteed returns.
“They operate through YouTube channels -- Profit Trading, Trade Room Official, Profit Maximisers and other social media and communication channels,” the National Stock Exchange added.
While releasing an official statement in view of alarming the investors against these fraudsters, the NSE said, "It has been brought to the notice of the National Stock Exchange of India Ltd that individuals named Krishnam Raju, Pratiban, Pooja Sharma, Aman, and M Amit—operating through platforms such as YouTube channels, along with other social media and communication channels—are providing unauthorised securities market tips, offering to handle investor trading accounts by seeking login IDs/passwords, assuring returns, and engaging in dabba or illegal trading services," as reported by news agency IANS.
The National Stock Exchange (NSE) has further advised investors not to subscribe to any scheme or product offered by any person or entity offering assured returns in the stock market, as the same is prohibited by law.
(With inputs from IANS)
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