Disclosures and Disclaimer

Disclosures

The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations) 

KUNAL HASMUKHLAL SHAH (“Research Analyst”) is registered with SEBI as Research Analyst with Registration No. INH000012908. The research analyst got its SEBI registration on Sep 05, 2023 and is engaged in research and recommendation Services. The focus of Research Analyst is to provide research and recommendations services to the clients. Analyst aligns its interests with those of the client and seeks to provide the best suited services.

• Research Analyst have no material adverse disciplinary history as on the date of publication of this report. 
• Research Analyst has no associates
• Research Analysts or its employee or its associates may 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.
• Research Analysts or its employee or its associates does not have any financial interest in the subject company. 
• Research Analysts or its employee or its associates have no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/ securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of recommendation services at the time of publication of the research report.
• Research Analysts or its employee or its associates have not received any kind of remuneration or consideration or compensation form the subject company or from anyone in connection with the research report in the past twelve months.
• The subject company was not a client of Research Analyst during twelve months preceding the date of distribution of the research report. 
• Research Analysts or its employee or its associates have not served as an officer, director or employee of the subject company. 
• Research Analysts or its employee or its associates have not been engaged in market making activity of the subject company 

Disclaimer:

This report has been prepared by Research Analyst and is solely for information of the recipient only. The report must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice.

Each recipient of this document should make such investigations as they deem necessary to arrive at an independent evaluation of an investment in securities of the companies referred to in this document (including merits and risks) and should consult their own advisors to determine merits and risks of such investment. 

The information and opinions contained herein have been compiled or arrived at, based upon information obtained in good faith from sources believed 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. Descriptions of any company or companies or their securities mentioned herein are not intended to be complete. Research Analyst is not obliged to update this report for such changes. Research Analyst has the right to make changes and modifications at any time. 

This report is not directed to, or intended for display, downloading, printing, reproducing or for distribution to or use by, any person or entity who is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, reproduction, availability or use would be contrary to law or regulation or what would subject Research Analyst or its affiliates to any registration or licensing requirement within such jurisdiction. If this report is inadvertently sent or has reached any person in such country, especially, United States of America, the same should be ignored and brought to the attention of the sender. This document may not be reproduced, distributed or published in whole or in part, directly or indirectly, for any purposes or in any manner. 

It should not be considered to be taken as an offer to sell or a solicitation to buy any security. 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. This report should not be construed as an invitation or solicitation to do business with Research Analyst. 

Research Analyst do not take any responsibility, financial or otherwise, of the losses or the damages sustained due to the investments made or any action taken on basis of this report.

Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Statutory Disclosures:

KUNAL HASMUKHLAL SHAH

Registered Address: B/1402, Neel Tower, , Devidas Cross Lane, Borivali (West), MUMBAI, MAHARASHTRA, 400103

Registration No.: INH000012908

Contact No.: 9920185889 Email: kunal.finresearch@gmail.com

Statutory Disclaimers: 

“Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors”