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.

• Investments in securities market are subject to market risks. Read all the related documents carefully before investing.

• Registration granted by SEBI,Enlistment as RA with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. 

Terms & Conditions for Research Report:

1. The client or user assumes the entire cost and risk of any trading should you choose to undertake based on our view and Research Report. This material is for personal information and we are not responsible for any loss incurred due to it and  take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations in the Research Report.

2. You are solely responsible for making your own investment decisions. 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. In fact, this Research Report is only the starting point and you should do your own due diligence and the recipients of this Report may take professional advice from his/her Independant Financial Advisor before acting on this information. The report must not be used as a singular basis of any investment decision

3. The information /advice / calls provided in the Research Report/Model Portfolio by us is purely an area of Technical & Derivative research, which is susceptible to the continuous changes in the stock market. No such information / advice / calls can be held against us and we shall not be responsible or liable for any loss. All such information and opinions are subject to change without notice.

4.   We do not provide any guarantees in the Research Report/Model Portfolio. Every individual will be responsible for hisor own fund / buying / selling. We will have no legal responsibility or liability towards any loss of health or wealth/capital or any kind of damages as a result of our services. The views in any of our Research Report/Model Portfolio do not consider the risk appetite or particular circumstances of an individualinvestor or trader

5. The Research Report/Model Portfolio 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 and analysis included in the Research Report/Model Portfolio are based from sourcesbelieved to be reliable and written in good faith, but no representation or warranty, expressed or implied is made as to their accuracy, completeness or correctness.

Disclosure in the Research Report:

 I, Amit Seth, Sebi Registered Research Analyst (SEBI Reg No. : INH300009172)  disclose the following:

          A. Disclosure with regard to Ownership and Material conflicts of Interest:

1. I declare that I or research entity or my associates or my relatives do not have financial interest in the subject company..
2. I declare that I or my associates or my relatives, do not have actual/beneficial ownership of one per cent or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance. 
3. I declare that I or my associates or my relatives do not have any other material conflict of interest at the time of publication of the research report or at the  time of public appearance. 

       B. Disclosure with regard to receipt of Compensation:

1. I declare that I or my associates have not received any compensation from the subject company in the past twelve months.
   
2. I declare that I or my associates have not managed or co-managed public offering of securities for the subject company in the past twelve months.
3. I declare that I or my associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
4. I declare that I or my associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
5. I declare that I or my associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.

1.  Whether the RA or its Associates have received any compensation from the subject company in past twelve months – NO
2.  Whether the subject company is or was a client during twelve months preceeding the date of distribution of the research report and types of services provided – No

1. I declare that I have not served as an officer, director or employee of the subject company.
2. I declare that I have not been engaged in market making activity for the subject company
3. I declare that I did not receive any compensation or other benefits from the companies mentioned in the documents or third party in connection with preparation of the research documents. Accordingly, Research Analyst does not have any material conflict of interest at the time of publication of the research documents.