Zerodha Co-founder Nikhil Kamath alerts investors about fake post claiming stocks 'handpicked' by him

Kamath's tweet came after a social media post did a round in his name claiming stocks that would do well in April and are handpicked by him. The post asked to join a WhatsApp group.

"Scam alert, this is obviously not from me, I have never had or have any WhatsApp groups, nor do I give tips etc. Please report these... also to all the brands who reach out, I don't do paid promotions/collaborations/ads/paid speaking engagements of any kind. Please stop spamming, and everyone use a little common sense please," the tweet said.

"Join our WhatsApp group EPick 1-3 reliable stocks every day. First 1,000 members get it for FREE," the ad post said.

Nikhil Kamath is the brother of Nithin Kamath and co-founder the discount broking platform Zerodha in 2010. The online brokerage platform claims to have over one crore clients who place millions of orders every day contributing over 15% of all Indian retail trading volumes.

Nikhil Kamath is an experienced investor and he heads financial planning at Zerodha.

On Friday, Indian equity markets were trading in deep red amid selling pressure in most sectors. Around 12:50 pm, Nifty was trading at 22,580.45, down by 173.35 points or 0.76% while the S&P BSE Sensex was trading at 74,431.48, down by 601.95 points or 0.80%. The worst-performing sectors were banks & financial services, IT pharma and FMCG.

Banking gauge Nifty Bank traded at 48,593.05, lower by 393.55 points or 0.8%. The Nifty Pharma and Nifty Healthcare index were down by over 1% around this time.

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