Angel One warns investors against website, Instagram page impersonating brokerage
Brokerage firm Angel One has warned its users against a website and an instagram page which it found to be «falsely» representing themselves as affiliates of the company while soliciting investments by promising unrealistic returns.
In its filing to the exchanges on Thursday, Angel One mentioned a website with a URL https://shahinvestment.com/ and an Instagram Page @shahs_investment_ which it said were unlawfully using the company's name to deceive the public.
«The said website and the Instagram account handle are falsely representing themselves as affiliated with our Company and soliciting investments by promising unrealistic returns. They are collecting funds from the public to deceive them by providing assured return schemes. They are also displaying misleading claims to have a 9-year association with our Company on their website, which is entirely false,» the filing said.
Angel One said that the company does not have any association with the said website or Instagram Page.
Shares of Angel One ended at Rs 2,512 on the NSE on Thursday, falling by Rs 40.20 or 1.6% over the Wednesday closing price.
Shares of Angel One have rallied 36% over the past 12 months outperforming Nifty which has given returns of 29% in the same period. The stock is currently trading above its 50-day simple moving average (SMA) of Rs 2,334 while remaing below its 200-day SMA Rs 2,798.
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