Leading stock exchanges BSE and NSE have cautioned market participants against unsolicited messages being circulated in respect of various listed companies.

The move comes after such messages were being circulated through SMS and WhatsApp about certain listed companies, an exchange official said.

"It is observed that in recent past, the exchange has been receiving multiple emails giving references of unsolicited messages circulated regarding various listed companies," the two exchanges said in similar-worded circulars on late Thursday night.

The exchanges said they are in the process of ascertaining the veracity or genuineness of such emails.

In the past also, exchanges had cautioned traders and investors against unsolicited messages being circulated by unregistered entities to induce investment and sale of shares against certain listed companies, indicating target prices.