NSE warns against fake videos of CEO Ashishkumar Chauhan giving stock tips

National Stock Exchange of India Limited (NSE), which is the world's largest derivatives exchange in terms of volume, on Wednesday cautioned investors about fake videos of its MD & CEO Ashishkumar Chauhan making rounds on social media, which it said are being created using "sophisticated technologies" to copy his voice and facial expressions.

“We have observed the use of face/ voice of Ashishkumar Chauhan, MD and CEO, NSE, and NSE logo in a few investment and advisory audio and video clips falsely created using technology,” NSE says in a release, adding that investors should not believe in such fake investment advice.

"Such videos seem to have been created using sophisticated technologies to imitate the voice and facial expressions of Chauhan," it adds.

The company says its employees are not authorised to recommend any stock or deal in those stocks. "Investors are hereby cautioned not to believe in such audio and videos and not follow any such investment advice coming from such fake videos or other mediums," the bourse says.

The information was also shared via Chauhan's X handle, as "clarification on fake audio/videos of NSE MD and CEO recommending specific stocks".

Additionally, the NSE has asked the platforms concerned to take action to pull down such "objectionable videos". The NSE says as per its process, any official communication is made only through its official website and its social handles.

"Everyone is requested to verify the source of communication and content which is sent out on behalf of NSE and to check the official social media handles. All investors are requested to take note of the same and verify the information coming from NSE or its officials from its website www.nseindia.com as the official information," it said.

In separate news, NSE has said it is ready to file a draft red herring prospectus (DRHP) for its initial public offering (IPO), but it awaits a signal from the market regulator SEBI, Chauhan said last week.

“The regulator (SEBI) has to give approval for the IPO. Once they give the approval, we’ll submit a revised DRHP,” he added. The listing of NSE is long-awaited as its first attempt to launch the IPO in 2016 was derailed after the bourse got embroiled in the co-location controversy. NSE, one of the country’s leading exchanges, had initially filed its IPO document with the Securities and Exchange Board of India (SEBI) in December 2016 and was reportedly looking to raise around ₹10,000 crore.

In the December quarter of FY24, NSE posted a consolidated net profit of ₹1,975 crores on a consolidated basis for Q3 FY24, up by 8% on a year-on-year basis. The net profit margins for Q3 FY24 stood at 51%. The consolidated revenue was at ₹3,517 crores for Q3 FY24, up by 25% on a year-on-year basis.