Disclosures
Definitions of the terms used over and above those defined by SEBI under Research Analyst Regulations (2014)
1. “Research Analyst” means a person whose business activity is research analysis or preparation and/or publication of research report.
2. “Research Services” means the business activities including but not limited to recommendations to buy/sell financial securities.
3. “Client” means the person who receives the Research Report.
4. “Products” means the different services provided by the Research Analyst
5. “Trade” means a recommendation to buy/sell a security/instrument or a combination of securities/instruments.
Standard Disclosures:
Details of the Business Activity of the Research Analyst
1. The business activities of the Research Analyst include trading and investing in securities (as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956) listed or proposed to be listed on stock exchanges in India.
2. The Research Analyst serves as the Chairman and Director on the board of Nuviqe Aesthetics Private Limited, a company that is involved in the branding, marketing and distribution of healthcare products.
Disclosure on Disciplinary History of the Research Analyst
The Research Analyst has not been tried for or accused of any disciplinary action or breach of the Indian law.
Disclosures pertaining to the Research Service
1. The security(ies) mentioned in the Report have been identified on the basis of internally developed methodology and use of various data and other sources believed by the Research Analyst to be reliable. The accuracy and reliability of the data or the source cannot be guaranteed by the Research Analyst. 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. The Research Analyst certifies that the views expressed in the Report reflect his personal views about the security(ies), which are subject to change without notice. No part of the Research Analyst’s compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in the report.
2. The Research Report/ the contents of the Research Report/ Statistical Data/ Analysis/ Formats and all other information related to the research services provided to the clients by the Research Analyst, is/are an Intellectual Property that completely and solely belongs to the Research Analyst.
3. The Client of this report shall take into consideration their own financial capacity and shall take a rational decision by themselves.
4. Client should not solely rely on the information contained in the Research Reports and must make investment/trading decisions based on their own financial objectives, judgment, risk profile and financial position. The recipients of this Report may take professional advice before acting on this information.
5. The Research Analyst has complete authority to change or alter the Products offered or the terms of the Research Services without prior notice.
General Disclosures:
General Disclosures provided in the Investment Reports
Disclosures pertaining to interest in the subject company/asset of the report:
1. The Research Analyst engaged in preparation of this Report or his relative:-
(a) does not have any financial interests in the subject company(s) mentioned in this report
(b) does not own 1% or more of the equity securities of the subject company mentioned in the report as of the last day of the month preceding the publication of the research report
(c) does not have any other material conflict of interest at the time of publication of the research report.
2. The Research Analyst engaged in preparation of this Equity Report:-
(a) has not received any compensation from the subject company in the past twelve months
(b) has not managed or co-managed public offering of securities for the subject company in the past twelve months
(c) has not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months
(d) has 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
(e) has not received any compensation or other benefits from the subject company or third party in connection with the research report
(f) has not served as an officer, director or employee of the subject company
(g) is not engaged in market making activity for the subject company.
3. The Research Analyst engaged in preparation of the Mutual Fund Scheme Report:-
(a) has not received any compensation from the asset management company/mutual fund for the past twelve months.
(b) does not promote the scheme for benefits of any kind from the mutual fund scheme
(c) may or may not hold units of the said mutual fund scheme.
(d) does not intend to influence the investment decisions of the fund managers of the scheme recommended in the report.
(e) does not own 1% or more of the mutual fund units of the subject mutual fund scheme mentioned in the report as of the last day of the month preceding the publication of the research report.
General Disclosures provided in the Trade Reports
1. The Research Analyst has not entered into the trade recommendation prior to communicating the said recommendation.
2. The Research Analyst or his associates is/are not performing trading activities in securities/instruments mentioned in the Trade Report at the time of communicating of the said report.
3. The Research Analyst or his associates if any are not being compensated for market making activity in the recommended securities/instruments.
4. All trade recommendations are subject to market risk, please read all the relevant documents carefully.