On November 2, Tuesday it was reported that fake research reports in the name of ICICIdirect are being circulated in the market. The motive of the fake reports was to misguide the investors. These reports are following the same design template as the official reports and thus making it difficult for the investors to differentiate between real & fake reports.
ICICIdirect issued a statement to alert investors regarding fake research reports, “While we are taking necessary actions with the help of authorities to trace the origin and take down these reports being posted on some websites, investors are also advised to excise abundant caution in making their investment decisions based on reports whose origin may be of the suspect.”
Investors can get ICICIdirect reports at no extra cost on www.icicidirect.com. As the auspicious season of Diwali started many such fake reports were being circulated to misguide the investors.
“Investors are advised not to trust reports received from unknown dubious sources any other sources for its customers and investors are advised not to trust reports received from unknown and dubious sources. ICICIdirect’s research team is amongst the most reputed and strongest on the street, tracking over 350 companies,” the statement further read.