You can stop unsolicited stock tips SMS by reporting them to The Telecom Regulatory Authority of India (TRAI) and the stock exchanges. Report via SMS to 1909 or use the TRAI DND 3.0 mobile app for one-click reporting from your call log.
How to report via SMS
Send an SMS to 1909 in the following format:
Message, phone number SMS/call came from, and the date on which you received this
Example: Unsolicited SMS asking for investments in some random business, 8553168150, 12/06/2017
How to report via TRAI DND 3.0 app
Download the TRAI DND 3.0 mobile app from Playstore. The app allows you to report unsolicited calls and SMS with a simple one-click process from your call log.
Report to stock exchanges
The stock exchanges have also taken an interest in fixing the problem of unsolicited messages. You can report them on the Anonymous information page on the exchange website.
Zerodha's initiative
Zerodha has started an initiative at fightstocktips.zerodha.com to help stop this nuisance. Zerodha also warns you if a penny stock is potentially being used for a pump-and-dump scheme, as SMS is a common method for executing these scams. See Beware of the Phishing Scam for more information.