Mint Investing (Prop: Naresh Bangeja) (‘hereinafter referred to as “Mint Investing’) is a SEBI Registered Research Analyst having registration no. INH000010177 

Any research report/note prepared by Mint Investing is meant for sole use by the recipient and not for circulation. The information and opinions contained herein have been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. Such information has not been independently verified and no guaranty, representation of warranty, express or implied, is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. Any research report or note document is for information purposes only. Descriptions of any company or companies or their securities mentioned in research reports/notes are not intended to be complete, and is not, and should not be construed as an offer or solicitation of an offer, to buy or sell any securities or other financial instruments.

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Foreign currencies denominated securities, wherever mentioned, are subject to exchange rate fluctuations, which could have an adverse effect on their value or price, or the income derived from them. In addition, investors in securities such as ADRs, the values of which are influenced by foreign currencies effectively assume currency risk. It should not be considered to be taken as an offer to sell or a solicitation to buy any security.

Mint Investing, its 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 any research reports, notes or document, 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. Mint Investing and its associates, employees may have various positions in any of the stocks, securities and financial instruments dealt in the report, or may make sell or purchase or other deals in these securities from time to time or may deal in other securities of the companies / organizations described in any research reports, notes or document.

Mint Investing or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, Mint Investing does not have any material conflict of interest at the time of publication of any research reports, notes or document.

Mint Investing may have issued other reports that are inconsistent with and reach different conclusion from the information presented in any research reports, notes or document. Mint Investing has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any compensation/benefits from the subject company or third party in connection with the Research Report.

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