NSE alerts investors against guaranteed returns investment plans

The National Stock Exchange (NSE) on Thursday warned investors not to fall prey to investment schemes with assured returns offered by Sameer Gulabrao Thite associated with Samsan Unitrade. The exchange pointed out that the person and the entity are not registered either as a member or authorised person of any registered member of the NSE.

The cautionary statement comes after the NSE noticed that Sameer Gulabrao Thite associated with Samsan Unitrade was offering the service to handle trading accounts of investors by asking them to share their user identification (user ID) and password.

"Investors are cautioned and advised not to subscribe to any such scheme/product offered by any entities/persons offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law," the exchange said in a statement.

Further, investors have been asked not to share their trading credentials such as user ID and password with anyone.

Earlier, the exchange had issued similar advisories after information surfaced that entities, including Suraj Mourya, Aimers Trader, Shares Bazaar, Real Trader and Groww Stock, operating through social media platforms were offering investment plans with guaranteed returns.

NSE began operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995, based on the Securities and Exchange Board of India (Sebi) data.