NSE cautions investors against assured return products
The National Stock Exchange (NSE) on Friday warned investors not to fall prey to investment plans with guaranteed returns offered by Suraj Mourya associated with “Aimers Trader”.
Photograph: PTI Photo
The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE.
The cautionary statement comes after the NSE noticed that Suraj Mourya associated with Aimers Trader was offering to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
He was offering guaranteed returns on various investment plans and also providing unauthorised portfolio management services.
“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.
Further, investors have been asked not to share their trading credentials such as user ID and password with anyone.
Earlier, the exchange had issued similar advisories after information surfaced that entities like Real Trader and Groww Stock operating through telegram channel and WhatsApp were offering investment plans with guaranteed returns.
Also, Shares Bazaar Private Limited was offering investment plans with assured returns.
NSE began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on the Securities and Exchange Board of India (Sebi) data.
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