Regulatory

The research reports (hereinafter called reports) have been prepared and presented by Veritas Research and Advisors, which does not constitute any offer or advice to sell or do solicitation to buy any securities. The information presented in these reports are for the intended recipients only. Further, the intended recipients are advised to exercise restraint in placing any dependence on these reports, as the sender, Veritas Research and Advisors, 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 these documents having been previewed on the basis of publicly available information, internal data, personal views of the research analyst(s) and other reliable sources, believed to be true, we do not represent it as accurate, complete or exhaustive.

It should not be relied on as such, as these documents are for general guidance only. Besides this, the research analyst(s) are bound by stringent internal regulations and legal and statutory requirements of the Securities and Exchange Board of India (SEBI) and the analysts’ compensation was, is, or will be not directly or indirectly related with the other companies and/or entities of and have no bearing whatsoever on any recommendation, that they have given in the research report. Veritas Research and Advisors or any of its affiliates/group companies shall not be in any way responsible for any such loss or damage that may arise to any person from any
inadvertent error in the information contained in this report. Veritas Research and Advisors has not independently verified all the information, which has been obtained by the company for analysis purposes, from publicly available media or other sources believed to be reliable. Accordingly, we neither testify nor make any representation or warranty, express or implied, of the accuracy, contents, or data contained within these documents.

We hereby declare that the information herein may change any time due to the volatile market conditions, therefore, it is advised to use your own discretion and judgment while entering into any transactions whatsoever. Individuals employed as research analyst/s by Veritas Research and Advisors or their associates are not allowed to deal or trade in securities, within thirty days before and five days after the publication of a research report as prescribed under SEBI Research Analyst Regulations. Subject to the restrictions mentioned in above paragraph, we and our affiliates, officers, directors, employees, and their relatives may: (a) from time to
time, have long or short positions acting as a principal in, and buy or sell the securities or derivatives thereof, of Company mentioned herein or (b) be engaged in any
other transactions involving such securities and earn profits.

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. Investment in the securities market is subject to market risks. Read all the related documents carefully before investing.