The National Stock Exchange of India Ltd (NSE) has cautioned investors against dealing with a person identifying himself as Vipin Shukla, who claims to be associated with an entity called Profit Plus and allegedly offers stock market tips and account-handling services via YouTube and Telegram channels. According to the Exchange, investors are also being asked to share their trading login credentials, a practice that poses serious financial and cybersecurity risks.
In a release, NSE said it has received information that the individual operates through mobile number 8920563376, a YouTube channel called 'THE PROFIT PLUS' having link
https://www.youtube.com/@theprofitplusss , a Telegram channel named 'PROFITPLUS DAILY FREE TIPS' having link
https://t.me/joinchat/1q35ui-zim1hNzc1 and a Telegram user identified as 'PROFIT PLUS DELHI' having user id @theprofitplus . The Exchange clarified that the person is providing securities market tips and account handling services while asking investors to disclose their login IDs and passwords.
NSE has advised investors not to subscribe to any scheme or product promising indicative, assured or guaranteed returns from the stock market, noting that such offerings are prohibited by law. It also urged investors never to share their trading credentials, including user IDs and passwords, with any individual or entity.
The Exchange further clarified that neither Mr Shukla nor the entity Profit Plus is registered as an NSE trading member or an authorised person of any registered member. Investors have been advised to verify the registration status of brokers and authorised persons using the know/locate your stock broker facility available on the NSE website. They should also verify the designated client bank accounts disclosed by registered trading members before transferring any money.
NSE warned that investors participating in such unauthorised schemes do so entirely at their own risk, cost and consequences, as these schemes are neither approved nor endorsed by the Exchange.
The Exchange also highlighted that investors who suffer losses in such prohibited schemes will not be able to avail themselves of several important investor protection mechanisms. These include benefits under the Exchange's investor protection framework, the Exchange's dispute resolution mechanism and the Exchange-administered investor grievance redressal mechanism.
NSE urged investors to exercise caution when dealing with anyone offering stock market tips, guaranteed returns, or account management services via social media platforms and messaging applications and to verify the credentials of all intermediaries before investing.
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