Beware of stock investment-related calls from these two numbers, warns NSE

The NSE warned the investors against sharing their login credentials with any person claiming to be a member of any registered entity of the exchange

The National Stock Exchange has cautioned investors from falling prey to fake brokers promising guaranteed returns on investments.

In a press release issued on Wednesday, the stock exchange highlighted that two persons claiming to be legitimate brokers and operating through mobile number: 9977690997 are fraud.

“It has been brought to the notice of the Exchange that persons named “Makhan Prajapati” and “Rakesh Sharma” claiming to be associated with entity named “Choice broking” operating through mobile number “9977690997”, are providing securities market tips for trading and offering to handle trading account of investor by asking investors to share their login id/password,” it said.

In a separate release, the exchange identified another mobile number: 9112569388 and warned users not to accept securities market tips for trading from a person named Kuldeep Valiya claiming to be associated with an entity named “R K Global Shares & Securities Limited.”

The NSE clarified that while Choice Equity Broking Private Limited and R K Global Shares & Securities Limited are indeed registered trading members of the exchange, the above-mentioned persons are not associated with them.

Such frauds are not uncommon in the industry and the stock exchanges frequently identify such persons and phone numbers which are being used to trap individuals.

To deal with such crimes, the NSE has provided an online tracker where investors can find the details of the stock brokers on its website. To check the registered brokers, users can visit: https://www.nseindia.com/invest/find-a-stock-broker

Verifying the registration status of a stockbroker before investing with them is always advised to avoid financial losses and legal consequences.