BSE cautions investors against unsolicited messages in these penny stocks. Check details

BSE has cautioned investors against dealing in Elegant Floriculture & Agrotech India and Spright Agro scrips based on recommendations coming from unauthorized or unregistered entities through Whatsapp, Telegram, SMS, calls, social media platforms or by any other means.

It said that investors should remain cautious against getting trapped through claims of high or assured returns from trading in the securities market.

Elegant Floriculture & Agrotech India is a penny stock with market capitalization of Rs 16 crore on the BSE. The stock today ended at Rs 8.07, falling by Rs 0.42 or 4.95% over the Wednesday closing price. The stock today hit a 5% lower circuit of Rs 8.07. There was a spurt in its volumes by over 1.10 times in today’s trade.

In another media release, the exchange warned against certain entities that are allegedly engaged in unauthorized activities like investment/trading recommendations without research analyst registration.

These entities are Vijay Wealth Advisor, Baadshah Badshah Broking, Baadshah Broking Baadshah, Pankaj Bhardwaj Way2laabh TM Pankaj Bhardwaj Way2laabh.

All these entities are operating through their Telegram channels.”Please note that these individuals/entities are neither registered as members nor as Authorized Person of any registered member of the BSE Limited. Further they are either providing securities market tips to investors or assured/guaranteed returns on investment in stock market or offering to handle trading accounts of investors by asking investors to share their Login ID/Password,” the BSE release said.The investors can verify the registration of exchange intermediaries by visiting the BSE website.

BSE has also advised investors to not share their trading credentials such as user ID/password with anyone for trading in their account/handling of the portfolio.

The exchanges and market regulator Securities and Exchange Board of India (Sebi) have been warning investors against participating in such types of prohibited schemes.

The participation is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by the exchanges.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)