Market regulator, Securities and Exchange Board of India (SEBI) advised people to avoid taking tips/recommendations while trading from unregistered entities in the form of SMS, through social media, websites and other mass media.
"The general public is hereby cautioned to deal with only SEBI registered investment advisers and research analysts for availing investment advisory services/research services," it said in a statement posted on its website on Wednesday.
"The details of SEBI registered investment advisers and research analysts are available on the SEBI website www.sebi.gov.in," it added.
"The public in general are advised to check the registration status of the entity/person on the SEBI website before availing the investment advisory services/research services," it said.
The regulator took action against seven entities for offering unauthorized investment advice to the public and listed them on its website.