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The National Stock Exchange of India (NSE) has issued a warning to investors regarding an entity named Algo Master and individuals associated with it. The stock exchange has received information that a person named Veena, operating through mobile numbers ‘8530550095’ and ‘8530990063’, is allegedly offering assured returns on investment in the stock market and soliciting investors to share their credentials for handling their trading accounts. Additionally, two individuals named Ankita Mishra and Vishal, operating through mobile number ‘8237576347’, are also offering guaranteed returns on investment in the stock market. However, NSE has cautioned investors against subscribing to any such schemes or products offered by these entities as they are prohibited by law.
Beware of Unauthorized Schemes
Investors are advised not to fall prey to schemes or products that promise guaranteed returns in the stock market. NSE emphasizes that the person or entity associated with Algo Master is not registered as a member or authorized person of any registered member of NSE. Participation in such prohibited schemes is at the investors’ own risk, cost, and consequences, as they are neither approved nor endorsed by the Exchange. It is important to note that for any disputes relating to such prohibited schemes, investors will not have the recourse of investor protection benefits under the exchange’s jurisdiction or exchange dispute resolution mechanism. Furthermore, NSE’s grievance redressal mechanism will not be available to investors in such cases.
Protect Your Trading Credentials
NSE strongly advises investors not to share their trading credentials, such as user ID and passwords, with anyone. Sharing sensitive information with unauthorized entities or individuals can lead to potential fraud or loss of investments. It is crucial for investors to exercise caution and verify the credentials and registration status of any person or entity before engaging in any investment activity.
Conclusion
In conclusion, investors should be vigilant and cautious when dealing with entities or individuals offering guaranteed returns on investment in the stock market. NSE’s warning serves as a reminder to investors to exercise due diligence and verify the registration status and credentials of any entity or individual before making any investment decisions.