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Don't fall prey to SMSes, emails: SEBI tells investors
Don't fall prey to SMSes, emails: SEBI tells investors
| MUMBAI: Stock market regulator Sebi on Wednesday cautioned investors about the risks in paying heed to web content, SMSes, emails, advertisements Sebi said that most of these are likely to misguide investors and such advice are not always backed by any 'reasonable basis'. ''Investors should realise that when they follow such advice they are exposing themselves to undue risk in using unconfirmed information...and trading tips on an intra-day basis, short term basis or long term basis,'' Sebi said in a note on its website. ''The public in general is advised not to fall prey to or be lured by such sources of information promising quick gains and unrealistic high returns. It is advised that investors should take well informed investment decisions,'' the note added. On December 14, 2009, TOI had carried a story warning investors that mass SMSes and emails were being sent and even telemarketing calls were being made to people, inducing them to trade in particular counters. Messages titled JACKALL, VimalStk, CV (an acronym for capitalvia.com) were being circulated. Often it was observed that stock prices recommended by these entities shot up soon after such messages were sent. Some of the recent additions to the list where such messages originate from are smartprofit and estocks. On Wednesday, Sebi asked investors to deal only through Sebi-registered market intermediaries and not to invest in shares based on market rumours, unconfirmed or unauthenticated news. It also asked investors not to get swayed by ''advertisements promising unrealistic gains and windfall profits.'' Sebi also warned that one should not be guided by astrological predictions on share prices and market movements, It also said that investment decisions should not be made on the basis of implicit/explicit promises made by anyone. Source: Economic Times *Mutual Fund investments are subject to market risks. Please read the offer document carefully before investing. *Insurance is the subject matter of solicitation. Disclaimer: The content in this email is purely for Information purposes only and is not an offer or solicitation of any kind. This content should not be acted upon without consulting or without the prior advice of your financial advisor. Nothing in this email should be considered personalized advice about your investment, real estate, insurance or other personal finance decisions. The information in this email is confidential, and intended solely for the addressee. Access to this email by anyone else is unauthorized. Any copying or further distribution beyond the original addressee is not intended, and may be unlawful. |
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