The research report is a written or electronic communication that includes research analysis or research recommendation or an opinion concerning securities or public offer, providing a basis for investment decisions. The views expressed therein are based solely on information available publicly/internal data/other reliable sources believed to be true but is not necessarily all-inclusive and is not guaranteed as to accuracy. The information is provided merely as a complementary service and does not constitute an offer, solicitation for the purchase or sale of any financial instruments, inducement, promise, guarantee, warranty, or as an official confirmation of any transactions or contract of any kind. Nothing in this report constitutes investment or tax advice or a representation that any investment or strategy is suitable for your specific circumstances. Because of the possibility of human, technical or mechanical error by our sources of transmission of Reports/Data, I do not guarantee the accuracy, adequacy, completeness or availability of any information and are not to be held responsible for any errors or omissions or the results obtained from the use of such information. The research analyst shall not be in any way liable for any indirect, special or consequential damages that may arise to any person from any inadvertent error in the information contained in the reports nor do they take guarantee or assume liability for any omissions of the information contained therein. Research data, Calls and reports published/ emailed/ text messaged via Short Messaging Services, Online Messengers, WhatsApp, Telegram etc./transmitted through mobile application/s, and or those made available/uploaded on social networking sites (e.g. Facebook, Twitter, LinkedIn etc.) by research analyst are for informational purposes only. The call(s) & report(s) are provided for assistance and are not intended to be and must not alone be taken as the basis for an Investment / Trading decision. Any reliance you place on such information is therefore strictly at your own risk.

To enhance transparency, I further declare that I am not associated in any manner with any issuer of products/ securities, this ensures that there is no actual or potential conflicts of interest. This also ensures that objectivity or independence in the carrying on of research analysis services is not compromised. Investment in stock/commodity/Currency markets is subject to market risk, though best attempts are made for predicting markets, but no surety of return or accuracy of any kind is guaranteed, while the performance sheet of various products is available but should not be considered as a guarantee for future performance of the products/services. Clients/Readers are advised to consider all the advice as just an opinion and make investment decision on their own.

Please read below disclaimer:

I further undertake that:

  • No disciplinary action has been taken against the research analyst by any authority in connection with their respective business activity.
  • I have no actual/beneficial ownership of one percent or more in the securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance.
  • I and my relatives have no financial interests and material conflict of interest in the subject company at the time of publication of the research report or at the time of public appearance.
  • I have not received any compensation from the subject company in the past twelve months.
  • I have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
  • I have not received any compensation or other benefits from the subject company or third party in connection with the research report.
  • I have not managed or co-managed public offering of securities for the subject company in the past twelve months.
  • I have never served as an officer, director or employee of the subject company.
  • I have never been engaged in market making activity for the subject company.

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