Disclosures

1. About the Research Analyst:

Shankar Shivakumar has completed Research Analyst (Series-XV) having his office in Srinivasnagar, Bangalore, Karnataka.

2. About the Research Analyst:

Mr. Shankar Shivakumar has done Master of Business Administration in Finance from ICFAI, Bangalore. With a strong analytical skill set, he excels in identifying investment ideas and implementing effective strategies.

3. Details of Business activities:

Mr. Shankar Shivakumar provides recommendations based on both fundamental and technical analysis. He also provides buy, sell and hold recommendations on Listed Stocks, Futures and Options.

4. Disciplinary History:

There are no outstanding litigations or no disciplinary history against Shankar Shivakumar.

5. Terms and Conditions on which Research Report is being issued:

Mr. Shankar Shivakumar has exercised due diligence in checking the correctness and authenticity of the information contained herein, so far as it relates to current and historical information, but does not guarantee its accuracy or completeness. The opinions expressed are based on my current research as of the date appearing in the material and may be subject to change from time to time without notice.

Mr. Shankar Shivakumar does not accept any liability arising from the use of this document or the information contained herein. The recipients of this material should rely on their own judgment and take their own professional advice before acting on this information.

Mr. Shankar Shivakumar shall not be in any way responsible for any loss or damage that may arise to any person/s from any inadvertent error in the information contained, views and opinions expressed in this publication.

6. Mr. Shankar Shivakumar or his associates, including relatives-

· do not hold any financial interest in the Company.

· do not have any actual/beneficial ownership of more than 1% in the company.

· do not have any other material conflict of interest.

7. Mr. Shankar Shivakumar or his associates are not affiliated with any other intermediaries or have received any brokerage or commission from any third party.

8. Mr. Shankar Shivakumar has ensured that the facts mentioned in the research report are taken from the reliable source and information. However, the investors are advised to independently evaluate the market conditions/ risks involved before making the investment decision.