This document has been prepared by Arham Share Pvt. Ltd. This Document
is subject to changes without prior notice and is intended only for the person or
entity to which it is addressed to and may contain confidential and/or privileged
material and is not for any type of circulation. Any review, retransmission, or
any other use is prohibited.
Kindly note that this document does not constitute an offer or solicitation for
the purchase or sale of any financial instrument or as an official confirmation
of any transaction. Though disseminated to all the customers simultaneously, not
all customers may receive this report at the same time. Arham Share
Pvt. Ltd. will not treat recipients as customers by virtue of their receiving this
The information contained herein is from publicly available data or other sources
believed to be reliable. While we would endeavour to update the information herein
on reasonable basis, Arham Share Pvt. Ltd., their directors and employees
(“Arham Share Pvt. Ltd. and affiliates”) are under no obligation to
update or keep the information current. Also, there may be regulatory, compliance,
or other reasons that may prevent Arham Share Pvt. Ltd. and affiliates
from doing so. We do not represent that information contained herein is accurate
or complete and it should not be relied upon as such. This document is prepared
for assistance only and is not intended to be and must not alone be taken as the
basis for an investment decision. The user assumes the entire risk of any use made
of this information.
Each recipient of this document should make such investigations as it deems necessary
to arrive at an independent evaluation of an investment in the securities of companies
referred to in this document (including the merits and risks involved), and should
consult its own advisors to determine the merits and risks of such an investment.
The investment discussed or views expressed may not be suitable for all investors.
We do not undertake to advise you as to any change of our views. Affiliates of Arham
Share Pvt. Ltd. may have issued other reports that are inconsistent
with and reach different conclusion from the information presented in this report.
This report is not directed or intended for distribution to, or use by, any person
or entity who is a citizen or resident of or located in any locality, state, country
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Pvt. Ltd. and affiliates to any registration or licensing requirement within such
jurisdiction. The securities described herein may or may not be eligible for sale
in all jurisdictions or to certain category of investors. Persons in whose possession
this document may come are required to inform themselves of and to observe such
Arham Share Pvt. Ltd.& affiliates may have used the information set
forth herein before publication and may have positions in, may from time to time
purchase or sell or may be materially interested in any of the securities mentioned
or related securities. Arham Share Pvt. Ltd. may from time to time solicit
from, or perform investment banking, or other services for, any company mentioned
herein. Without limiting any of the foregoing, in no event shall Arham Share
Pvt.Ltd., any of its affiliates or any third party involved in, or related to, computing
or compiling the information have any liability for any damages of any kind. Any
comments or statements made herein are those of the analyst and do not necessarily
reflect those of Arham Share Pvt. Ltd.