Nikhil Kamath, the co-founder of the discount brokerage platform Zerodha, made it clear that he does not provide stock tips or participate in any WhatsApp groups that handpick stocks for investors.
What Happened: Kamath took to X on Friday to clarify that he has never operated a WhatsApp group nor has he “hand-picked” stocks, contrary to claims made by a group advertising stock-picking assistance. He warned the public about this misleading advertisement and urged them to exercise common sense.
“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,” he stated, highlighting his stance against such practices along with posting an image of the scam advertisement.
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The deceptive ad enticed investors by promising to have Kamath handpick stocks set to rise in April and invited them to join a WhatsApp group where they would receive daily stock picks. The ad also claimed, “First 1,000 members get it for free.”
Nikhil Kamath, one of India's youngest billionaires, began trading in his teenage years. Together with his brother Nithin Kamath, he founded Zerodha in 2010, which has since become one of the biggest players in India’s online stock broking space.
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