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Disclosure & Disclaimer: Groen Research Solutions LLP (hereinafter referred to as “Research Analyst”) is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014, with SEBI Registration Number INH000015075. The business activities of the Research Analyst and other information are mentioned in detail on the website www.myresearchbook.com, which includes 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.
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General Disclosures: Groen Research Solutions LLP is a SEBI Registered Research Analyst having registration no. INH000015075. This report has been prepared by Groen Research Solutions LLP and is solely for information on the recipient only. The report must not be used on a singular basis for any investment decision. The views herein are of a general nature and do not consider the risk appetite or the circumstances of an individual investor. 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). 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. Groen Research Solutions LLP is not obliged to update this report for such changes. Groen Research Solutions LLP 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 Groen Research Solutions LLP 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. Foreign currencies denominated securities, wherever mentioned, are subject to exchange rate fluctuations, which could have an adverse effect on their value or price, or the income derived from them. In addition, investors in securities such as ADRs, the values of which are influenced by foreign currencies, effectively assume currency risk. This report should not be construed as an invitation or solicitation to do business with Groen Research Solutions LLP. Groen Research Solutions LLP, its directors, analysts or employees do not take any responsibility, financial or otherwise, for the losses or the damage sustained due to the investments made or any action taken on basis of this report, including but not restricted to, fluctuation in the prices of shares and bonds, changes in the currency rates, diminution in the NAVs, reduction in the dividend or income, etc.
Details of its associates: No associates.
Disclosures with respect to Research and Recommendations Services: 1. The Research Analyst or any of its officers/employee does not trade in securities which are subject matters of recommendation. 2. There are 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 Research Analyst services. Such conflict of interest shall be disclosed to the client as and when they arise. 3. Research Analyst or its employee or its associates have not received any compensation from the company, which is subject matter of recommendation. 4. Research Analyst or its employees or its associates have not managed or co-managed the public offering of any company. 5. Research Analyst or its employee or its associates have not received any compensation for investment banking or merchant banking of brokerage services from the subject company. 6. Research Analyst or its employees or its associates have not received any compensation for products or services other than above from the subject company. 7. Research Analyst or its employees or its associates have not received any compensation or other benefits from the Subject Company or 3rd party in connection with the research report/recommendation. 8. The subject company was not a client of Research Analyst or its employees or its associates during twelve months preceding the date of recommendation services provided. 9. Research Analysts or their employees or associates have not served as an officer, director or employee of the subject company. 10. Research Analysts have not been engaged in market making activity of the subject company. Acceptance of this disclosure and disclaimer report is implied by the act of browsing and reading the content. Analyst Certification: The views expressed in this research report accurately reflect the personal views of the analyst(s) about the subject securities or issues, and no part of the compensation of the research analyst(s) was, is, or will be directly or indirectly related to the specific recommendations and views expressed by research analyst(s) in this report. Standard Warning: “Investment in securities market is subject to market risks. Read all the related documents carefully before investing”.
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