Leading stock exchange BSE on Monday cautioned investors to remain vigilant against deepfake video of its CEO giving stock recommendations and investment advice on social media platforms.
Photograph: Shailesh Andrade/Reuters
The exchange emphasised that the video is unauthorised and fraudulent, and its officials are not permitted to provide any stock tips.
“It has come to the notice of BSE Ltd that a fraudulent deepfake video is being circulated on social media and messaging platforms, falsely featuring Sundararaman Ramamurthy, managing director & CEO, BSE, and claiming to provide stock recommendations and investment advice,” the exchange said in a statement.
The video contains misleading and false claims, broadly suggesting stock tips for investments in 2026 with promises of extraordinary or super-normal profits, and urging viewers to join a WhatsAppchannel, the exchange said, adding that statements such as “you will have Rs 8 million by 2027” are part of this fabricated content.
BSE said the exchange is taking necessary steps to have the fake content removed from social media platforms and to initiate appropriate legal action against those responsible.
The exchange said that the video being circulated is fake, unauthorised, doctored, and fabricated using deepfake technology.
It clarified that neither Ramamurthy nor any BSE official, in an official or individual capacity, offers stock tips, investment recommendations, or operates WhatsApp, Telegram, or similar groups.
Also, the bourse advised investors and the public “not to rely on or act upon such videos, messages, or links, and to refer only to communication issued through BSE’s official handles and channels, as well as SEBI-registered intermediaries, for any market-related information”.
Earlier in April, BSE and National Stock Exchange (NSE) cautioned investors against deepfake videos of their CEOs giving stock recommendations.
Deepfakes are manipulated videos or other digital representations that use artificial intelligence to create cogent videos or audio of individuals they never did or said, posing a risk of spreading misinformation and damaging their reputation.
