Disclaimer and Disclosure Statement of Research Report/Recom

---

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

Disclaimer and Disclosure Statement of Research Report/Recommendation: (VIJAY KUMAR

GUPTA: INH000020226)

(a) The recommendations provided in this report are based on information we believe to be

reliable.; (b) Unless otherwise specified, the recommendations provided herein are based on a 12-

month horizon.; (c) Investment ratings or recommendations and returns are based on absolute

positive and negative returns.; (d) Security prices may rise or fall based on certain market conditions

after following our recommendations.; (e) We may revisit ratings or recommendations due to

valuations, returns, lack of clarity, or events.; (f) Our opinions are subject to change, and we have no

obligation to inform clients when our opinions and recommendations change.; (g) Clients should be

aware of the risks involved in the stock market, which may lead to partial or permanent loss of

portfolio or investment during certain market conditions.; (h) We strictly adhere to the rules of the

SEBI Research Analyst Regulations, 2014, and do not provide any investment advisory/PMS services.

Analyst Certification: (VIJAY KUMAR GUPTA: INH000020226)

I VIJAY KUMAR GUPTA am a research analyst, this research report accurately reflects the personal

views of the research analysts employed by “VIJAY KUMAR GUPTA” regarding any of the subject

issuer(s), company(ies), or securities. Research Analyst has compiled this report using information

available to the public and sources we consider reliable. Additionally, I certify that my compensation

has no direct or indirect relationship with the specific recommendations or views expressed in this

report.

The analysts involved in the preparation of this report, or their relatives and associates: (VIJAY

KUMAR GUPTA: INH000020226)

(a) do not have any financial interests in the subject company mentioned in this report; (b) do not

own 1% or more of the equity securities of the subject company mentioned in the report as of the

last day of the month preceding the publication of the research report; (c) do not have any material

conflict of interest at the time of publication of the report.

The analysts involved in the preparation of this report or their relatives and associates: (VIJAY

KUMAR GUPTA: INH000020226)

(a) have not received any compensation from the subject company in the past twelve months;

(b) have not managed or co-managed public offerings of securities for the subject company

in the past twelve months; (c) have not received any compensation for investment banking,

merchant banking, or brokerage services from the subject company in the past twelve

months; (d) have not received any compensation for products or services other than

investment banking, merchant banking, or brokerage services from the subject company in

the past twelve months; (e) have not received any compensation or other benefits from the

subject company or third party in connection with the report; (f) have not served as an

officer, director, or employee of the subject company; (g) are not engaged in market-making

activity for the subject company; (h) subject company wasn't a client during twelve months

preceding the date of distribution of the research report and there is no services provided to

subject company; (i) shall review the third party research report for any untrue statement of

material fact or any false or misleading information.

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

Disciplinary History: (VIJAY KUMAR GUPTA: INH000020226)

There has been no instance of any Disciplinary action, penalty, etc. levied/passed by any

regulation/administrative agencies against “VIJAY KUMAR GUPTA” and its Partners or associates.

Terms & Conditions & Risk Disclosures: (VIJAY KUMAR GUPTA: INH000020226)

Important Information Regarding Research Reports and Recommendations

At “VIJAY KUMAR GUPTA”, we prioritize delivering dependable and precise research reports and

recommendations to our registered clients. We rely on genuine data and information from reliable

sources, including publicly available data. Our Reports are carefully reviewed to ensure accuracy and

prevent misleading statements.

It is important to note that all of our research reports and recommendations serve an informational

purpose only. Please note that this document should not be considered an offer to buy, sell, hold, or

subscribe to any securities or financial instruments. Please note that “VIJAY KUMAR GUPTA”, along

with its partners, employees, officers, and affiliates, cannot be held responsible for any loss or

damage arising from any unintentional errors in the information presented in the research report or

recommendations.

Investing in capital markets comes with built-in risks, and investors need to be aware of their

personal risk tolerance. Before making any decisions based on our research reports, it's

recommended that you speak with a financial advisor. Our reports are not customized to any specific

investment goals, financial situations, or individual needs. Clients who obtain our research reports

and recommendations should act based on their financial position and risk appetite while keeping in

mind the risks associated with capital markets.

 Warning: “Investment in securities market are subject to market risks. Read all the related

documents carefully before investing.”

 Market Risk: “Market risks refer to partial or permanent loss of Investments or portfolios in

adverse market conditions or company events.”

 The Securities Quoted Are for Illustration Only and Are Not Recommendatory.

 “Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any),

and certification from NISM in no way guarantee performance of the intermediary or

provide any assurance of returns to investors.”

 Past performance is not indicative of future results.

 RISK ASSOCIATED IN OPEN POSITIONS: Our recommendations may be open; we may not

provide any stop-loss or target price in securities recommendations. This will cause a huge

loss on your portfolio in adverse market conditions or company events.

 "The securities video content or information related to the securities market on any

social/print media platform is for educational purposes only and is not recommendatory;

viewers should consult a financial advisor before following any advice. “

RESEARCH ANALYST: VIJAY KUMAR GUPTA

RESEARCH ANALYST REGISTRATION NUMBER: INH000020226

The Use of AI Tools in Research and Advisory Services involves several key points:

Our Recommendations are based on technical and fundamental analysis with some use of AI-

artificial intelligence.

Our Responsibility for client data security, confidentiality, and compliance is upheld on the use of AI.

AI trading risks include system vulnerabilities that can amplify errors.

Handling sensitive data poses privacy and security risks, including potential breaches.

Concerns include biased outputs, privacy violations, lack of transparency, data quality issues, and

misleading results from poor data.

Severe data glitches may result in significant losses related to your security or portfolio.

MODEL PORTFOLIO BY RESEARCH ANALYST:

“VIJAY KUMAR GUPTA: INH000020226” will adhere to the Research Analysts' Guidelines for

recommending a 'model portfolio' whenever necessary.

Other Disclosure of Research Analyst (VIJAY KUMAR GUPTA: INH000020226)

 Trade Name or Website: www.vijayguptaadvisory.com

 I VIJAY KUMAR GUPTA a research analyst; having SEBI Registration Number: INH000020226;

Address: Khasra No 160, Near Mahalaxmi Dharamkanta, Sangariya, JODHPUR, RAJASTHAN,

342013; Correspondence Address: Khasra No 160, Near Mahalaxmi Dharamkanta,

Sangariya, JODHPUR, RAJASTHAN, 342013

Validity: Apr 08, 2025 - Perpetual; Visit our social media, Website, and app for more T&C, risks,

disclosure, and disclaimer details.

Contact Compliance Officer:

Name: VIJAY KUMAR GUPTA

Mail: RESEARCHANALYSTVIJAY@GMAIL.COM

Phone: +91 79827 54456

If not satisfied with the response of the research analyst you can lodge your grievances with SEBI

Scores: https://scores.sebi.gov.in/ & SEBI ODR: https://smartodr.in/ and SEBI Office Toll-Free No:

1800 22 7575 or 1800 266 7575; If “VIJAY KUMAR GUPTA”, and its partners, employees or

associates promise any assurance/guarantee of return on your investments, please immediately

complaint to our Compliance Officer of “VIJAY KUMAR GUPTA” and SEBI to stop such malpractices.

Trade Name or Website: www.vijayguptaadvisory.com