Regulatory Disclosures & Disclaimers
Pursuant to SEBI (Research Analysts) Regulations, 2014
Statutory Disclaimers:
• Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
• Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclosures under Regulation 19:
Financial Interest
The Research Analyst or associates do not have financial interest in the subject companies exceeding statutory limits, unless expressly disclosed in individual reports.
Actual / Beneficial Ownership
The Research Analyst or associates do not hold actual/beneficial ownership of 1% or more securities of the subject company at the end of the month preceding publication.
Material Conflict of Interest
The Research Analyst does not have any material conflict of interest at the time of publication of research reports.
Receipt of Compensation
The Research Analyst has not received any compensation from the subject company in the past 12 months for merchant banking, investment banking, or brokerage services.
• The Research Analyst has not served as an officer, director, or employee of the subject company.
• The Research Analyst has not engaged in market making activity for the subject company.
• No disciplinary action has been taken by SEBI or any other regulatory authority against the Research Analyst.