SEBI Disclaimer

I, Amit Seth, Research Analyst (SEBI REGISTRATION NUMBER : INH300009172) comply with the qualification and certification requirements under SEBI (Research Analyst) Regulations, 2014. I have been working in the Indian Capital markets for over 12+ years.

All of the views expressed in research reports and recommendations issued by me reflect my personal views about the subject Company or companies at the given point of time and I do not receive/accept any kind of compensation, directly or indirectly related to specific recommendations or views expressed in reports issued by me.

My relative’s do not at any point of time of issuing the reports have any material conflict of interest in the subject company neither I am engaged in market making activity for the subject company.

The investments discussed or views expressed in reports and recommendations issued by me may not be suitable for all investors. The user assumes the entire risk of any use made of this information. Neither me nor any person connected with my report, accepts any liability arising from the use of research document. The recipients of research document should rely upon their own investigations and should consult their own advisors to determine merit and risks of such investments.

Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance.

Certain transactions including those involving futures, options and other derivatives as well as non-investment grade securities involve substantial risk and are not suitable for all investors. Reports and recommendations based on technical analysis centres on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals.

Opinions expressed in research reports & recommendations will be based on the current opinions as of the date appearing in research report & recommendations. While I endeavour to update on a reasonable basis the information discussed in research reports, there may be regulatory, compliance, or other reasons that prevent me from doing so.

Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice.

In so far as reports include current or historic information, it is believed to be reliable, although its accuracy and completeness cannot be guaranteed.

DISCLOSURE IN RESEARCH REPORTS

• I declare that I do not have any financial interest of any kind in any of the company that I report on or recommend.

• I declare that I do not hold any holding in securities of companies that I report on or recommend.

• I declare that there is no conflict of interest whatsoever of any kind.

• I declare that I have no interest whatsoever of any kind in market making in the securities of companies referred to in my report or recommendations.

• I declare that I am not a director or have any relationship of any kind in the company’s referred in my report or recommendations.

• I declare that I did not have any past relations with the companies of any kind that report or recommend.