Disclosure Regulatory

Research Services

• We offer independent research recommendations only — we do not provide advisory or portfolio allocation services.
• We never guarantee returns on any recommendation. Trading and investing in securities is always subject to market risk, and past performance never guarantees future results.
• We are not responsible for any loss incurred by an investor acting on our research.
• We do not offer execution or distribution services, and we are not affiliated with any broker, mutual fund house, or other financial intermediary to promote their products.

Disciplinary History

• There are no pending material litigations or legal proceedings against us.
• No penalties or directions have been issued against us by SEBI under the SEBI Act or its regulations relating to research analyst services.

Disclosures on Research and Recommendations

• Neither the firm nor its associates trade in securities that are the subject of our recommendations.
• We are not aware of any actual or potential conflict of interest arising from any association with an issuer of the securities we cover; any such conflict will be disclosed to clients as it arises.
• We have not received compensation from any company that is the subject of our recommendations.
• We have not managed or co-managed any public offering for a covered company.
• We have not received compensation for investment banking, merchant banking or brokerage services from a subject company.
• We have not received compensation for any other products or services from a subject company.
• We have not received any other compensation or benefit, from a subject company or a third party, in connection with a research report.
• No subject company has been our client in the twelve months preceding a recommendation.
• Neither we nor our associates have served as an officer, director or employee of a subject company.
• We have not engaged in market-making activity for any subject company.

Standard Warning

Investment in securities markets is subject to market risks. Read all related documents carefully before investing.

Disclaimer

Registration granted by SEBI, and certification from NISM, in no way guarantees the performance of the Research Analyst or provides any assurance of returns to investors.