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Disclosure

Disclosures of all material information: Vinay Kumar Singh Bhagel: INH000021100

Business Activity:

“Vinay Kumar Singh Bhagel” is engaged in the business of Research Analyst activities by providing Buy/Sell/Hold calls or other ratings defined to their clients.

“Vinay Kumar Singh Bhagel” is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014. SEBI Reg. No. INH000021100

Disciplinary History:

There has been no instance of any Disciplinary action, penalty, etc. levied/passed by any regulation/administrative agencies against Vinay Kumar Singh Bhagel: INH000021100 and its Partners and associates.

Terms & Conditions of issuance of Research Report issued by Vinay Kumar Singh Bhagel: INH000021100:

The Research report is issued to the registered clients. The Research Report or Research recommendations is based on facts, figures, and information that are considered true, correct, and reliable. The information contained herein is from publicly available data or other sources believed to be reliable.

We have also reviewed the research report or Research recommendations for any untrue statements of material facts or any false or misleading information.

The report or recommendations are prepared solely for informational purposes and do not constitute an offer document or solicitation to buy or sell or hold or subscribe for securities or other financial instruments for clients.

RISK Disclosures:

Vinay Kumar Singh Bhagel: INH000021100, its partners, employees, officers, and its affiliates are not responsible for any loss or damage that may arise to any person for any nonchalant error in the information represented in the research report or research recommendations.

Investors may lose his/her entire amount or Investments or portfolio under certain market conditions so acting on any advice or recommendations from research reports, Investors should understand their risk appetite or consult their financial advisers.

The research report or Research recommendations do not take into account any specific investment objective, goal, or financial situation or any specific needs and objectives of any specific individual.

The client obtaining the research report or Research recommendations should act according to his/her own risk appetite and financial position and should also understand the risk involved in capital markets while making investments.

Disclosures with regard to ownership and material conflicts of interest:

Vinay Kumar Singh Bhagel: INH000021100 or its research analysts or his/her relative or associate don’t have any direct or indirect financial interest in the subject company.

Vinay Kumar Singh Bhagel: INH000021100 or its research analysts, or his/her relative or associate don’t have any other material conflict of interest at the time of publication of the research report.

Vinay Kumar Singh Bhagel: INH000021100 or its research analysts, or his/her relative or associates don’t have actual ownership of 1% or more securities of the subject company.

Disclosures with regard to ownership and material conflicts of interest:

Vinay Kumar Singh Bhagel: INH000021100 or its associates have received any compensation from the subject company in the past twelve months: NO

Vinay Kumar Singh Bhagel: INH000021100 or its associates have managed or co-managed public offering of securities for the subject in the past twelve months: NO

Vinay Kumar Singh Bhagel: INH000021100 or its associates have received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months: NO

Vinay Kumar Singh Bhagel: INH000021100 or its associates 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 twelve months: NO

Vinay Kumar Singh Bhagel: INH000021100 or its associates have received any compensation or other benefits from the subject company or third party in connection with the research report: NO

The research analyst has not served as an officer, director, and employee of the subject company.

Vinay Kumar Singh Bhagel: INH000021100 or its research analyst has been engaged in the market-making activity for the subject company: NO

Vinay Kumar Singh Bhagel: INH000021100 or its associates have received any compensation from the subject company in the past twelve months: NO

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