Disclaimer

Disclaimer

• This information/document has been prepared by MIR UNISERV Ltd. (MIR UNISERV) and is intended for use only by the person or entity to which it is addressed to. This Document may contain confidential and/or privileged material and is not for any type of circulation and any review, retransmission, or any other use is strictly prohibited. This information/ document is subject to changes without prior notice. Recommendation in reports based on technical and derivatives analysis is based on studying charts of a stock’s price movement, trading volume, outstanding positions, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals. However, this would only apply for information/document focused on technical and derivatives research and shall not apply to reports/documents/ information focused on fundamental research.
• This information/document does not constitute an offer to sell or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Though disseminated to all customers who are due to receive the same, not all customers may receive this report at the same time. MIR UNISERV will not treat recipients as customers by virtue of their receiving this information/report.
• The information contained herein is obtained from publicly available data or other sources believed to be reliable and MIR UNISERV has not independently verified the accuracy and completeness of the said data and hence it should not be relied upon as such. While we would endeavor to update the information herein on reasonable basis, MIR UNISERV, its subsidiaries and associated companies, their directors and employees (“MIR UNISERV and affiliates”) are under no obligation to update or keep the information current. Also, there may be regulatory, compliance, or other reasons that may prevent MIR UNISERV and affiliates from doing so. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. Recipients of this report should also be aware that past performance is not necessarily a guide to future performance and value of investments can go down as well. The user assumes the entire risk of any use made of this information. Each recipient of this document should make such investigations as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved) and should consult its own advisors to determine the merits and risks of such an investment. The investment discussed or views expressed may not be suitable for all investors. We do not undertake to advise you as to any change of our views. Affiliates of MIR UNISERV may have issued other recommendations/ reports that are inconsistent with and reach different conclusions from the information presented in this recommendations/report.
• This information/recommendation/report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject MIR UNISERV and affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors. Persons in whose possession this document may come are required to inform themselves of and to observe such restriction.
• The analyst certifies that the analyst might have dealt or traded directly or indirectly in securities of the company and that all the views expressed in this document accurately reflect his or her personal views about the subject company or companies and its or their securities and do not necessarily reflect those of MIR UNISERV. The analyst and MIR UNISERV further certifies that either he or his relatives or MIR UNISERV associates might have direct or indirect financial interest or might have actual or beneficial ownership of 1% or more in the securities of the company at the end of the month immediately preceding the date of publication of the research report. The analyst and MIR UNISERV encourages independence in research report/ material preparation and strives to minimize conflict in preparation of research report. The analyst and MIR UNISERV does not have any material conflict of interest or has not served as officer, director or employee or engaged in market making activity of the company. The analyst and MIR UNISERV has not been a part of the team which has managed or co-managed the public offerings of the company, and no part of the analyst’s compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this document. MIR UNISERV Ltd or its associates or analysts have not received any compensation for investment banking, merchant banking, brokerage services or any compensation or other benefits from the subject company or from third party in the past twelve months in connection with the research report.
• Either MIR UNISERV or its affiliates or its directors or employees / representatives / clients or their relatives may have position(s), make market, act as principal or engage in transactions of purchase or sell of securities, from time to time or may be materially interested in any of the securities or related securities referred to in this report and they may have used the information set forth herein before publication. MIR UNISERV may from time to time solicit from, or perform investment banking, or other services for, any company mentioned herein. Without limiting any of the foregoing, in no event shall MIR UNISERV, any of its affiliates or any third party involved in, or related to, computing or compiling the information have any liability for any damages of any kind.
• Forward-looking statements (if any) are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not a guarantee of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. MIR UNISERV/its affiliates undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader/investors are cautioned not to place undue reliance on forward-looking statements and use their independent judgement before taking any investment decision.
• Investment in securities market are subject to market risks, read all the related documents carefully before investing. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.

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