THE National Stock Exchange (NSE) on Monday cautioned investors not to fall prey to investment plans that promise guaranteed returns.
The country’s largest bourse warning comes against the backdrop of instances of unregistered entities soliciting investments through YouTube and Telegram Channels. The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE.
“Investors are cautioned and advised not to subscribe to any such scheme/ product offered by any entities/persons offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law,” the exchange said in a statement.
It was noticed that entities like Kirti Patel through Descent Wealth Management, Adarsh Yadav/Saheb Lal Yadav operating through YouTube channel and telegram channel -- Art of Trading Mr. Adarsh -- and Ayush and Rahul Kumar are collecting funds from the public for providing investment plans with guaranteed returns, it said.
Earlier, NSE had issued a similar advisory after it noticed that an entity named Profit Axis PMS Services was collecting funds from the investors and offering investment plans with assured returns.