are taking gullible investors
for a ride. Investors
are lured into buying shares of little-known companies. It is a welcome sign that the Securities and Exchange Board of India and the Department of Telecommunications (DoT) have decided to take stern action against brokers sending such messages. Brokers found guilty of indulging in this practice should be blacklisted and barred from trading.
need to be educated; they should cross-check with credible brokers if the message sent has come from a scrupulous broker.
Along with DoT
and telecom operators Sebi
should launch a campaign to warn investors
about such messages. Investors
should research penny stocks
on the internet. A cautious approach is better than believing blindly in such fake tips.
Deendayal M Lulla Mumbai
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