Making money is becoming increasingly difficult in the stock market and to make matters worse one is finding that a lot of these SMS (short message service) talk about their performance and also offer facilities that only profitable calls would be chargeable. SEBI has disapproved of such SMS and had some time ago issued a press release to that effect.
There has been no improvement and these messages are sent with impunity and even to cells whose names are registered in the DND (do not disturb) category. Sending SMS’s have become very cheap and convenient. Bulk SMS cost one or two paisa per message and one single message is sent out to hundreds, thousands or tens of thousands of people.
I believe that if there is a serious attempt to ban the proliferation of these messages the simple way to do it is ask the service providers to check whether these people sending messages about the stock market are regulated or approved market intermediaries or not. In case they are not they should not be allowed to use this facility of sending bulk messages.
Some sample messages received by me in recent days are enumerated below: –
LM-BBUZZ1 Liberty shoes rose from Rs 75 to 101 (44%) in 2 months after BazaarBuzz.com gave a BUY in it. To get such tips, Subscribe now or call 09360116111 for details.
LM-SM Our PVR call today made Rs 2404 profit on Rs 50,000 investments. We charge ONLY on positive calls. To start earning send BSA to 56767 now!
TD-BULLSEYE Buy Century Ply CMP 72.50 INTRADAY 1st TRGT 74, 2ND TRGT 76. Value to be unlocked very soon. Post demerger TRGT 120. We expect a huge upward movement. BUY
There are thousands of such messages luring investors to subscribe and pay fees for getting these tips. They would lose the subscription and their money as these are unregistered bodies and in case of disputes SEBI would not entertain investors with such complaints.
I reiterate SEBI should get such providers of tips sending bulk SMS’s debarred from using these mass mailing facilities. This would be of great service to investors and save a fortune being lost on a daily basis.
