Disclaimer

  1. Samco Securities and its affiliates are a discount brokerage group. Samco Securities is a Stock Broker and a Depository Participant registered with Securities and Exchange Board of India Limited (SEBI) having Reg. No asINZ000002535 and is regulated by SEBI. Samco Securities is registered as a Research Entity under the SEBI (Research Analysts) Regulations, 2014. SEBI Reg.No.- INH000005847.
  2. Samco Securities makes best endeavour to ensure that the research analyst(s) use current, reliable, comprehensive information and obtain such information from sources which the analyst(s) believes to be reliable. However, such information has not been independently verified by Samco Securities and/or the analyst(s) and no representation or warranty, express or implied, is made as to the accuracy or completeness of any information obtained from third parties. The information, opinions, views expressed in the Research Reports will be those of the research analyst as at the date of publishing the Research Reports which are subject to change with passage of time or when new material is available and they do not represent to be an authority on the subject. Samco Securities may or may not subscribe to any and/ or all the views expressed herein.
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  4. Samco Securities and its associates, officer, directors, and employees, research analyst (including relatives) may: (a) from time to time, have long or short positions in, and buy or sell the Securities, mentioned herein or (b) be engaged in any other transaction involving such Securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Samco Securities may have proprietary long/short position in the above mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Samco Securities. Samco Securities or its associates may have received compensation from the subject company in the past 12 months. Samco Securities or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Samco Securities or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Samco Securities or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Samco Securities or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Samco Securities’s associates may have financial interest in the subject company. Samco Securities and/or its Group Companies, their Directors, affiliates and/or employees may have interests/ positions, financial or otherwise in the Securities/Currencies and other investment products mentioned in this report. Samco Securities, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.
  5. Research analyst has served as an officer, director or employee of subject Company: No
  6. Samco Securities has financial interest in the subject companies: No
  7. Samco Securities’s Associates may have actual / beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report. Disclosure No
  8. Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
  9. Samco Securities has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No
  10. Subject company may have been client during twelve months preceding the date of distribution of the research report.
  11. The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.