Disclosure Document & Disclaimer

The purpose of this document is to provide essential information about the research and recommendation services in a manner that assists and enables the prospective client/client in making an informed decision before engaging in research and recommendation services.

For the purpose of this Disclosure Document, the Research Entity is Saumil Tushar Naik, SEBI Registered Research Analyst (Part-time), SEBI Registration No. INH000027344 (hereinafter referred to as the “Research Analyst”).

• •The analyst has no holding or position in the securities recommended herein.
• •The analyst has no connection or association of any sort with any issuer of products/ securities recommended herein.
• •The analyst has no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/ securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of recommendation services.
• •The analyst has not received any kind of remuneration or consideration from the products/ securities recommended herein.

To access the key features of the securities, particularly the performance track record, please refer to www.bseindia.com and www.nseindia.com.

• •The Research Analyst may not have financial interest or actual / beneficial ownership in the securities recommended in his personal portfolio. Details of the same may be referred through the disclosures made at the time of the recommendation.
• •There are no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/ securities, including any material information or facts that might compromise objectivity or independence in the carrying on of research analyst services; such conflict of interest shall be disclosed to the client as and when it arises.
• •The Research Analyst or his relatives or associates have not received any compensation from the subject company in the past 12 months.
• •The Research Analyst or his relatives or associates have not managed or co-managed the public offering of the subject company in the past 12 months.
• •The Research Analyst or his relatives or associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months.
• •The Research Analyst or his relatives or associates have not received any compensation for products or services other than above from the subject company in the past 12 months.
• •The Research Analyst or his relatives or associates have not received any compensation or other benefits from the subject company or any third party in connection with the research report/ recommendation.
• •The subject company was not a client of the Research Analyst or his relatives or associates during the twelve months preceding the date of distribution of the research report and recommendation services provided.
• •The Research Analyst or his relatives or associates have not served as an officer, director or employee of the subject company.
• •The Research Analyst has not been engaged in market making activity of the subject company.
• •The Research Analyst has no material adverse disciplinary history as on the date of publication of the report.
• •The Research Analyst or his relatives may have beneficial ownership of 1% or more in the subject company at the end of the month immediately preceding the date of publication of the research report; wherever applicable, this shall be disclosed in the report.

The reports prepared by Saumil Tushar Naik, SEBI Registered Research Analyst, are for informational and educational purposes only. The information, analysis, views and opinions expressed herein are based on sources believed to be reliable; however, no representation or warranty, express or implied, is made as to the accuracy, adequacy, completeness or consistency of such information. The Research Analyst shall not be held responsible or liable for any errors, omissions or inaccuracies, whether factual or otherwise.

This material does not constitute an offer, solicitation or recommendation to buy, sell or hold any securities. The choice of products, reports or services remains entirely at the discretion of the user. Investment in equity and securities markets is subject to market risks, including the risk of loss of capital. Past performance is not indicative of future results, and there is no assurance or guarantee that any forecast, recommendation, target or opinion will be achieved.

The research content provided herein is not tailored to the specific investment objectives, financial situation or particular needs of any individual. Users are advised to exercise independent judgment. All investment and trading decisions taken based on this information shall be solely at the user’s risk, and the Research Analyst shall not be liable for any losses arising therefrom.

Dissemination of research and recommendations may be carried out through electronic means such as website, email, SMS or messaging platforms. While reasonable care is taken to ensure timely dissemination, the Research Analyst shall not be responsible for any delay, non-delivery or failure of communication due to technical issues, internet connectivity problems, telecom network failures, system errors or force majeure events.

Simulated or hypothetical performance results, if any, are provided for illustrative purposes only and do not represent actual trading performance. No representation is made that any account will or is likely to achieve profits or losses similar to those shown. Users are expected to adhere to advised research and risk principles, including predefined stop-loss levels. Any deviation from such risk management practices shall be solely at the user’s responsibility.

All research reports, recommendations, communications and content are proprietary and intended solely for the personal use of the recipient. Unauthorized copying, sharing, forwarding or redistribution of any content, in any form or through any medium, is strictly prohibited and may result in legal action.

The Research Analyst confirms that neither he nor his relatives hold one percent or more securities of the company(ies) covered under a report, have any financial interest in such company(ies), or have received any compensation from the company(ies) or any third party in connection with such report. There is no material conflict of interest at the time of publication.

Securities markets are subject to various risks including, but not limited to, market, economic, interest rate, liquidity, credit, political, geopolitical, currency, regulatory, business and force majeure risks. Accordingly, there is no assurance, insurance or guarantee of returns. By accessing this website, report or any associated communication, the user acknowledges that they have read, understood and agreed to this Disclaimer and the associated Terms & Conditions, and that usage of the information is entirely at their own risk.

• •Investors are advised to clearly mention their contact details and supporting documents while submitting grievances.
• •Filing a complaint does not guarantee a favourable outcome and shall be resolved as per applicable laws and regulations.
• •Registration granted by SEBI, membership of BASL/RAASB (BSE) and certification from NISM in no way guarantee the performance of the Research Analyst or assure returns to investors.
• •Investment in securities market are subject to market risks. Read all the related documents carefully before investing.