Disclaimers and Disclosures

Business Activity:

JIGARKUMAR HARSHADKUMAR SHAH is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014. SEBI Reg. No. INH000019008 (Registration Date: 10/12/2024). He is engaged in all research activities related to Research Analyst. Hereinafter referred to as “Research Analyst”.

Disciplinary History:

There has been no instance of any disciplinary action, penalty etc. levied/passed by any regulatory or administrative agencies against the Research Analyst.

Terms & Conditions of Issuance of Research Report/Recommendation:

• The Research Report/Recommendation has been prepared and presented by the Research Analyst does not constitute an offer document or solicitation to buy or sell or subscribe for securities or other financial instruments for clients.
• The information presented in the research report/Recommendation, are for the intended recipients only.
• The Research Report/Recommendation is based on the facts, figures and information that are considered true, correct and reliable.
• The information is obtained from publicly available media or other sources believed to be reliable.
• The intended recipients are advised to exercise restraint in placing any dependence on the research report/recommendation, as the Research Analyst, neither guarantees the accuracy of any information contained herein nor assumes any responsibility in relation to losses arising from the errors of fact, opinion or the dependence placed on the same.
• Despite the information in the research report/recommendation has been previewed on the basis of publicly available information, internal data, personal views of the research analyst and other reliable sources, believed to be true, it may not accurate, complete or exhaustive.
• The research analyst 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 in the report or recommendation.
• The research analyst has not independently verified all the information, which has been obtained from subject company for analysis purpose, from publicly available media or other sources believed to be reliable. Accordingly, the research analyst neither testify nor make any representation or warranty, express or implied, of the accuracy, contents or data contained within the research report/recommendation.
• The research analyst is bound by stringent internal regulations and legal and statutory requirements of the Securities and Exchange Board of India (SEBI) and the analysts' fees was, is, or will be not directly or indirectly related with the subject company cited in research report or other companies/analysts/advisors/firms and have no bearing whatsoever on any recommendation, that they have given in the research report/recommendation.

Disclosures with regard to ownership and material conflicts of interest:

• The research analysts or his/her relative or associate does not have any direct or indirect financial interest in the subject company.
• The research analyst or his/her relative or associate does not have any other material conflict of interest at time of publication of the research report/recommendation.
• The information in research report/recommendation may change any time due to the volatile market conditions, therefore, it is advised to use own discretion and judgment while entering into any transactions, whatsoever.
• The research analyst or their associates not trade in subject securities, within thirty days before and five days after the publication of a research report as prescribed under SEBI Research Analyst Regulations.

Disclosures with regard to receipt of compensation:

• The research analyst or its associates have not received any compensation from the subject company in the past twelve months.
• The research analyst hasn’t managed or co-managed public offering of subject securities for the subject in the past twelve months.
• The research analyst or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
• The research analyst has not served as an officer, director, employee of the subject company.
• The research analyst has not been engaged in market making activity for the subject company.

Disclosures with regard to use of Artificial Intelligence (AI) Tools:

• The research analyst may use Artificial Intelligence (AI) tools and techniques like Machine Learning, Deep Learning, Natural Language Processing, Reinforcement Learning etc. to arrive at final conclusion regarding research recommendations.
• AI tools and techniques are continuously evolving and have their own merits and demerits. They offer benefit in analysing huge data with reasonable accuracy in a small time but there are always potential risks associated with the use of AI tools and techniques like possible misclassifications or wrong predictions. AI tools and techniques are not 100% perfect. Some risks associated with the use of such tools and techniques may be unknown at the time of usage of them.

Disclaimers

• Investment in securities markets is subject to market risks. Read all related documents carefully before investing.
• Research Analyst registration granted by SEBI and certification from NISM in no way guarantee performance of the Research Analyst or provide any assurance of expected returns to traders or investors.
• The stocks discussed in reports/recommendations, media, presentations or videos are solely based on information available with Research Analyst and its’ analysis done either manually or by using computer programs/software/tools.
• By subscribing to Research Analyst service, you acknowledge and agree that the expected returns provided are for informational purposes only and are not intended as advertisements, claims, back-tests or promotions to influence any investment or trading decisions.
• The research analyst is not liable for any fraudulent activities conducted by third parties using his name, reports or reference.

Details of Associated Persons

No associates.