Research Disclaimer and Disclosure under SEBI (Research Analysts) Regulations 2014

Research Services are under the banner of VIKASH BAGARIA SEBI Registration-INH300008155

The report / information / opinions/buy/sell recommendations have been prepared by me and are subject to change without any notice. The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent of me. The information provided in the Report is from publicly available data, which I believe and reliable. While reasonable endeavours have been made to present reliable data in the Report so far as it relates to current and historical information, I am not guaranteeing the accuracy or completeness of the data in the Report. Accordingly, I or my relatives shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained, views and opinions expressed in this publication.

Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well as rise.

The Report also includes my analysis and views. The Report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed in the Report are our current opinions as of the date of the Report and may be subject to change from time to time without notice. I / Or any persons connected with me do not accept any liability arising from the use of this document.

Investors should not solely rely on the information contained in this Report and must make investment decisions based on their own investment objectives, judgment, risk profile and financial position. The recipients of this Report may take professional advice before acting on this information.

This document is for private circulation & Educational Purpose only. Neither the information nor any opinion expressed constitutes an offer, or any invitation to make an offer, to buy or sell any securities or any options, future or other derivatives related to such securities. The investment advice or guidance provided by way of recommendations, reports or other ways are solely the personal views of the research analyst.

Users are advised to use the data for the purpose of information and rely on their own judgment while making investment decision. The research recommendations and information are solely for the personal information of the authorized recipient and does not construe to be an offer document or any sort of investment, legal or taxation advice or solicitation of any action based upon it. This report is not for public distribution or use by any person or entity, where such distribution, publication, availability or use would be contrary to law, regulation or subject to any registration or licensing requirement. We will not treat recipients as customer by virtue of their receiving this report. The report is based upon the information obtained from public sources that we consider reliable, but we do not guarantee its accuracy or completeness. 

VIKASH BAGARIA shall not be in anyways responsible for any loss or damage that may arise to any such person from any inadvertent error in the information contained in this report. The recipients of this report should rely on their own investigations.

I submit that no material disciplinary action has been taken on me by any Regulatory Authority impacting Equity Research Analysis activities. 

Disclosure Answers to the Best of my knowledge and belief that I, VIKASH BAGARIA/ my Associates/ my Family:

• Do not have any financial interest /any actual/beneficial ownership in the subject company. 
• Don’t have any other material conflict of interest at the time of publication of the research report.
• Have not received any compensation from the subject company not managed or co-managed public offering of securities for the subject company. 
• Have not received any compensation for brokerage services or any products / services or any compensation or other benefits from the subject company, nor engaged in market making activity for the subject company · 
• Have not served as an officer, director or employee of the subject company.
  

  “INVESTMENTS IN SECURITIES MARKET ARE SUBJECT TO MARKET RISKS. READ ALL THE RELATED DOCUMENTS CAREFULLY BEFORE INVESTING.”

  “Registration granted by SEBI & Certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to Investors.”
  “Past Performance does not provide the  Guarantee of Future Returns”