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Zebu Share and Wealth Managements Private Limited is a trading member of NSE, BSE and MCX and
with SEBI Registration No: INZ000174634. Further, Zebu Share and Wealth Managements Private
Limited (hereinafter referred as 'Zebu') is also a Research Analyst bearing SEBI
Registration No. INH200006044. Zebu is not an Investment Adviser. Information herein should
be regarded as a resource only and should be used at one's own risk. This information/report
is prepared for the purpose of private circulation among the clients of Zebu free of cost
for their sole use and not for circulation. No part of the report/information shall be
reproduced in any format without prior written permission from the author/Zebu. This report
is not available separately for sale/subscription. This is not an offer to sell or
solicitation to buy any securities and Zebu will not be liable for any losses incurred or
investment(s) made or decisions taken/or not taken based on the information provided herein.
Information contained herein does not constitute investment advice or a personal
recommendation or take into account the particular investment objectives, financial
situations, or needs of individual subscribers. Before acting on any recommendation,
recipients of this information should consider whether it is suitable for their particular
circumstances and, if necessary, seek an independent professional advice from a SEBI
registered Investment Adviser. This is not directed for access or use by anyone in a
country, especially, USA, Canada or the European Union countries, where such use or access
is unlawful or which may subject Zebu or its affiliates to any registration or licensing
requirement. All content and information are provided on an 'as is' basis by Zebu.
Information herein is believed to be reliable but Zebu does not warrant its completeness or
accuracy and expressly disclaims all warranties and conditions of any kind, whether express
or implied. Zebu may hold shares in the company/ies discussed herein. As a condition to
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and updated from time to time in its website.
DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
DISCLOSURE WITH REGARDS TO RECEIPT OF COMPENSATION:​
(i) Neither Zebu nor its Associates have received any compensation from
the subject company in the past twelve months.
(ii) Neither Zebu nor its Associates have managed or co-managed public
offering of securities for the subject company in the past twelve months.
(iii) Neither Zebu nor its Associates have received any compensation
for investment banking or merchant banking or brokerage services from the subject
company in the past twelve months.
(iv) Neither Zebu nor 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.
(v) Neither Zebu nor its Associates have received any compensation or other benefits
from the subject company or third party in connection with the research report.
I, V Vijayakumar, author and the name subscribed to this report, hereby certify that all of
the views expressed in this research report accurately reflect our views about the subject
issuer(s) or securities. Zebu has no material adverse disciplinary history as on the date of
publication of this report. We also certify that no part of our compensation was, is, or
will be directly or indirectly related to the specific recommendation(s) or view(s) in this
Zebu, its directors, analysts or employees do not take any responsibility, financial or
otherwise, of the losses or the damages 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.