The advice published by Ritwik Rai – Registered Investment Adviser (hereinafter referred to as RIA) is for private circulation. Ritwik Rai is a SEBI-registered investment advisor. RIA does not have other business divisions. RIA does not use any brand name/trade name, all agreements are under the individual name of Ritwik Rai. RIA has not been debarred/suspended by SEBI or any other regulatory authority for accessing/dealing in the securities market. RIA does not hold any financial interest in the subject company. RIA may have affiliations with other intermediaries. RIA does not have any conflict or material conflict of interest at the time of publication of its advice with the company covered by RIA. RIA has not received any consideration by way of remuneration or compensation or in any other form whatsoever for any distribution or execution services in respect of the products or securities for which the investment advice is provided to the client. RIA does not recommend the services of any stock broker or other intermediary to its clients. RIA may have investment positions in the stocks recommended in this advice. However, RIA will always maintain a Chinese wall between his personal trading and advisory activities. RIA has exercised due diligence in checking the correctness of details and the opinion expressed herein is unbiased. This report is meant for personal informational purposes and is not to be construed as a solicitation or financial advice or an offer to buy or sell any securities or related financial instruments. While utmost care has been taken in preparing this report, we claim no responsibility for its accuracy. Recipients should not regard the report as a substitute for the exercise of their own judgment. Any opinions expressed in this report are subject to change without any notice, and this report is not under any obligation to update or keep current the information contained herein. Past performance is not necessarily indicative of future results. The information in this advice has been obtained on the basis of publicly available information, internal data, and other reliable sources believed to be true, but we do not represent that it is accurate or complete, and it should not be relied on as such, as this document is for general guidance only. RIA shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Investing in Stocks and Mutual Funds involves risk. There are no guaranteed returns in investing. The views and investment opinions provided on RIA are our own. We make sincere efforts to present the right investment perspective, and thus the information contained herein is based on the analysis and the sources that we consider reliable. However, RIA does not guarantee the accuracy, adequacy, or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. The investments discussed or recommended on RIA may not be suitable for all investors. Ritwik Rai and his affiliates may hold exposure in terms of long or short positions in the Securities/Commodities recommended/discussed from time to time. Ritwik Rai and his affiliates may hold exposure in the Mutual Fund Schemes recommended. Any action you choose to take in the markets or investing in Mutual Funds is totally your own responsibility. RIA will not be liable for any direct or indirect, consequential or incidental damages or loss arising out of the use of the information given on the website, through email, or any other means of communication. RIA especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. If you don't accept this responsibility for yourself, then you should not use RIA.

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