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Research Disclaimer and Disclosure under SEBI (Research Analysts) Regulations 2014
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The report / information / opinions/buy/sell recommendations have been prepared by Research Analyst of the Ravindra Bharti Financial Services Pvt Ltd (RBFSPL or RA or Research Entity) and are subject to change with or 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 we believe and find reliable in ordinary course of our research activities subject to the entire intent and content of the disclaimer. While reasonable endeavours have been made to present reliable data in the report or any recommendations so far as it relates to current and historical information, we are not guaranteeing the accuracy or completeness of the data in any report or recommendation. Accordingly, RBFSPL or its any employee or associate or affiliate 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 analysis and views from the research team of the company. 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 with or without notice. The RBFSPL or any persons connected with the company do not accept any liability arising from the use of this document. User of the report or recommendation should not solely rely on the information contained in the report or recommendation and must make investment decisions based on their own investment objectives, judgment, risk profile and financial position. The recipients of the report or recommendation may take further professional advice before acting on the report or recommendation
The RBFSPL is registered as Research Entity i.e. having registration for other segments as per the regulations, presently engaged in various financial services business and might have financial, business or other interests in other entities including the subject company mentioned in the report or recommendation. However, RBFSPL has maintained independence in preparation of research reports and strives to minimise conflict in preparation of research reports. RBFSPL or its any associates pr employees or by whomsoever name is mentioned do not receive any compensation or other benefits from the subject company/ies mentioned in the report or recommendation or from a third party in connection with preparation of the report or recommendation. Accordingly, RBFSPL or its associated or employees do not have any material conflict of interest at the time of publication of the report or recommendation.
It is confirmed that for giving any recommendations, RBFSPL or any research analyst of the Research Entity have not received any compensation from the companies mentioned herein in for the period defined as per the regulation and the Act.
RBFSPL or its relatives as per the companies act 2013 collectively do not own 1% or more of the actual / beneficial ownership of equity securities of the subject company mentioned in the report or recommendation as of the last day of the month preceding the publication of the research report or recommendation.
We submit that no material disciplinary action has been taken by any regulatory authority impacting Research activities.