Regulatory vigilance is increasing in the Indian stock market regarding unauthorized advice and claims of guaranteed returns. The National Stock Exchange has advised investors to stay away from any such schemes and independently verify the legitimacy of brokers.
Highlights
- The National Stock Exchange of India has declared the investment tips being provided by Dalpat Patel via mobile number 09166729713 and X handle Dalpatpateld143 as illegal.
- NSE clarified that Dalpat Patel is neither a registered member nor an authorized person of the exchange, and advised investors to avoid schemes offering guaranteed returns.
- Investors can now check membership validity using the 'Know/Locate your Stock Broker' feature on the NSE website, helping them avoid unauthorized intermediaries.
This article was translated from the original. Read the original version by our correspondent here.
Exchange Warning and Identification Details
As stated by NSE India, according to the National Stock Exchange of India, it has come to the exchange's notice that a person named "Dalpat Patel" is providing securities market tips via mobile number "09166729713" and the social media platform X under the handle "Dalpatpateld143". The exchange stated that one should not subscribe to any scheme or product in the stock market that promises indicative, assured, or guaranteed returns, as such offerings are prohibited by law.NSE also clarified that the concerned individual or entity is not registered as a member or authorized person of the National Stock Exchange of India Limited. Investors are also advised not to share their user ID, password, or other trading credentials with anyone.
Risks and Verification Measures for Investors
The exchange has provided a "Know/Locate your Stock Broker" feature on its website, through which investors can check the details of registered members and their authorized persons. This step helps investors identify unauthorized market intermediaries and misleading schemes.NSE said that participation in such prohibited schemes will be at the investor's own risk. This warning comes at a time when it has become more important than ever for retail investors to verify investment claims and registration status through digital and social media channels.
Our previous report discussed NSE's investor protection warning, where some unauthorized individuals were asking investors for login IDs and passwords by claiming guaranteed returns and account operation services. That article also emphasized NSE's clarification that such people are not registered members/authorized persons of the exchange, and investors were advised to verify through “Know/Locate your Stock Broker” and not to share trading credentials.
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