1) CapitalVeda Financial Research(Referred to as Research Analyst) or their relative or their associates, does not have any financial interest in the subject company. Also Research Analyst or their relative or their Associates do not 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(s) & call(s). Further Research Analyst or their relatives or their associates, does not have any material conflict of interest.

2) This document is for information purposes only. Descriptions of any company or companies or their securities mentioned herein are not intended to be complete and this document is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments.

3) It does not take into account the particular investment objectives, financial situations, or needs of individual recipients and other issues (prohibitions to investments due to law / jurisdiction issues etc.), etc., which may exist for certain persons. The suitability or otherwise of any investments will depend upon the recipient’s particular circumstances and, in case of doubt, advice should be sought from an independent expert/advisor

4) Recipients/users of research reports should rely on their own investigations/judgement and take their own professional advice before investment. CapitalVeda Financial Research nor its employees or associates, does not accept any liability (including damages of any kind) arising from the use of this information.

5) The user/recipient assumes the entire risk of any use made of this report/ analysis. Further, Stock trading is inherently risky and users/recipients agree to assume complete and full responsibility for the outcomes of all trading/investment decisions, including but not limited to loss of capital

6) The information and opinions contained herein have been compiled or arrived at, based upon information available publicly and/or obtained in good faith from sources believed/considered to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice.

7) Recipients/users of this report should be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well.

8) The Opinions are rendered in personal capacity and are our current opinions as of the date appearing on this Research only. We do not undertake to advise you as to any change of our views expressed in this Research.

9) We are not associated with any intermediary nor recommend any of their services.

10) All the research recommendations suggested by us would be communicated via writing only, Any other form of verbal communication by either of our associates is not considered as a valid recommendation


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