RAVI BHATT

Research Analyst Disclaimer

Ravi Bhatt, (Hereinafter referred to as “RAVI”) is regulated by the Securities and Exchange Board of

India (“SEBI”) and is licensed to carry on the business of Research Analyst.

You agree and understand that the information and material contained in this website implies and

constitutes your consent to the terms and conditions mentioned below.

You also agree that RAVI can modify or alter the terms and conditions of the use of this service without

any liability.

The content of the site and the interpretation of data are solely the personal views of the contributors.

RAVI reserves the right to make modifications and alterations to the content of the website. Users are

advised to use the data for the purpose of information only and rely on their own judgment while making

investment decisions. The investments discussed or recommended may not be suitable for all

investors.

The market view and investment tips expressed on website are in no way a guarantee either express

or implied. RAVI 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. RAVI especially states that it has no financial liability whatsoever to any user on account

of the use of information provided on its website.

Trading is inherently risky and you agree to assume complete and full responsibility for the outcomes

of all trading decisions that you make, including but not limited to loss of capital. None of the trading

calls given by RAVI should be construed as an offer to buy or sell any financial instruments, nor advice to

do so. All comments and posts made by RAVI and employees/owners are for information purposes only

and under no circumstances should be used for actual trading. Under no circumstances should any

person make trading decisions based solely on the information discussed herein. It is informational in

nature.

DELAYS IN SERVICES:

Neither RAVI (including its Owner ,and/or employees, ) shall be liable for any loss or liability resulting,

directly or indirectly, from delays or interruptions due to DND, electronic or mechanical equipment

failures, telephone interconnect problems, defects, weather, strikes, walkouts, fire, acts of God, riots,

armed conflicts, acts of war, or other like causes.

GOVERNING LAW:

Transactions between you and RAVI shall be governed by and construed in accordance with the laws

of India. Any litigation regarding this agreement or any transaction between customer and RAVI or any

action at law or in equity arising out of or relating to these agreement or transaction shall be filed only

in the Competent Courts of Gujarat and the customer hereby agrees, consents and submits to the

jurisdiction of such courts for the purpose of litigating any such action.

Exchanges Disclaimer:

No exchange* shall in any manner be answerable, responsible or liable to any person or persons for any

acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our

partners, agents, associates etc, of any of the Rules, Regulations, Bye-laws of any of the exchanges,

SEBI Act or any other laws in force from time to time.

None of the exchanges are liable for any information on this Website or for any services rendered by

us, our employees, and our servants.

* Exchanges here include all the Exchanges of which RAVI is a Member currently or can become a

member in future.

If you do not agree to any of the terms mentioned in this agreement, you should exit the site.

STANDARD DISCLOSURES AS PER RESEARCH ANALYSTS REGULATIONS, 2014

DISCLAIMER/DISCLOSURES ANALYST CERTIFICATION

I, Mr. Ravi Bhatt, authors and the names subscribed to this report, of Ravi Bhatt Research Analyst.

hereby certify that all of the views expressed in this research report accurately reflect our views about

the subject issuer(s) or securities. 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 report.

Terms & conditions and other disclosures:

Ravi Bhatt Research Analyst, (hereinafter referred to as “RAVI”) is engaged in the business of Research

Analyst. This document has been prepared by the Research Division of RAVI and is meant for use by

the recipient only as information and is not for circulation. This document is not to be reported or

copied or made available to others without prior permission of RAVI. It should not be considered or

taken as an offer to sell or a solicitation to buy or sell any security.

The information contained in this report has been obtained from sources that are considered to be

reliable. However, RAVI has not independently verified the accuracy or completeness of the same.

Neither RAVI nor any of its affiliates, its directors or its employees accepts any responsibility of

whatsoever nature for the information, statements and opinion given, made available or expressed

herein or for any omission therein.

Recipients of this report should be aware that past performance is not necessarily a guide to future

performance and value of investments can go down as well. The suitability or otherwise of any

investments will depend upon the recipient's particular circumstances and, in case of doubt, advice

should be sought from an independent expert/advisor.

Either RAVI or its affiliates or its directors or its employees or its representatives or its clients or their

relatives may have position(s), make market, act as principal or engage in transactions of securities of

companies referred to in this report and they may have used the research material prior to publication.

RAVI submits that no material disciplinary action has been taken on us by any Regulatory Authority

impacting Equity Research Analysis activities.

RAVI or its research analysts or its associates or his relatives do not have any financial interest in the

subject company. RAVI or its research analysts or its associates or his relatives do not have

actual/beneficial ownership of one per cent or more securities of the subject company at the end of

the month immediately preceding the date of publication of the research report. RAVI or its research

analysts or its associates or his relatives do not have any material conflict of interest at the time of

publication of the research report.

RAVI or its associates have not received any compensation from the subject company in the past

twelve months.

RAVI or its associates have not managed or co‐managed public offering of securities for the subject

company in the past twelve months or mandated by the subject company for any other assignment in

the past twelve months.

RAVI or its associates have not received any compensation for brokerage services from the subject

company in the past twelve months.

RAVI or its associates have not 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. RAVI or its associates have not received any compensation or other benefits from the

subject company or third party in connection with the research report.

RAVI encourages independence in research report preparation and strives to minimize conflict in

preparation of research report. RAVI or its analysts did not receive any compensation or other benefits

from the subject Company or third party in connection with the preparation of the research report.

RAVI or its Research Analysts do not have any material conflict of interest at the time of publication of

this report.

It is confirmed that Mr. Ravi Bhatt Research Analysts of this report have not received any compensation

from the companies mentioned in the report in the preceding twelve months.

Compensation of our Research Analysts is not based on any specific merchant banking, investment

banking or brokerage service transactions. The Research analysts for this report certifies that all of the

views expressed in this report accurately reflect his or her personal views about the subject company

or companies and its or their securities, and no part of his or her compensation was, is or will be,

directly or indirectly related to specific recommendations or views expressed in this report. The

research analysts for this report has not served as an officer, director or employee of the subject

company.

RAVI or its research analysts have not engaged in market making activity for the subject company Our

sales people, traders, and other professionals or affiliates may provide oral or written market

commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions

expressed herein, and our proprietary trading and investing businesses may make investment

decisions that are inconsistent with the recommendations expressed herein. In reviewing these

materials, you should be aware that any or all the foregoing, among other things, may give rise to real

or potential conflicts of interest.

RAVI and its associates, their directors and employees may (a) from time to time, have a long or short

position in, and buy or sell the securities of the subject company or (b) be engaged in any other

transaction involving such securities and earn brokerage or other compensation or act as a market

maker in the financial instruments of the subject company or act as an advisor or lender/borrower to the

subject company or may have any other potential conflict of interests with respect to any

recommendation and other related information and opinions.

RAVI does not claim to be an invitation or an offer to buy or sell any financial instrument. Our Clients

(Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or

Reports or Any Information Provided by us to/with anyone which is received directly or indirectly by

them. If found so then Serious Legal Actions can be taken. By accessing Www.prudentbroking.com or

any of its associate/group sites, you have read, understood and agree to be legally bound by the terms

of the following disclaimer and user agreement. The views and investment tips expressed by investment

experts through sms or on Www. prudentbroking.com are their own, and not that of the website or

its management. Www. prudentbroking.com advises users to check with certified experts before

taking any investment decision.

Stock trading is inherently risky and you agree to assume complete and full responsibility for the

outcomes of all trading decisions that you make, including but not limited to loss of capital.

None of the stock trading calls made by Ravi Bhatt should be construed as an offer to buy or sell

securities, nor advice to do so. All comments and posts made by Www. prudentbroking.com, and

employees/owners are for information purposes only and under no circumstances should be used for

actual trading. Under no circumstances should any person at this site make trading decisions based

solely on the information discussed herein. You agree to not make actual stock trades based on

comments on the site, nor on any techniques presented nor discussed in this site or any other form of

information presentation. All information is for educational and informational use only. You agree to

consult with a registered investment advisor, prior to making any trading decision of any kind. You

agree, by accessing this or any associated site, Ravi Bhatt bears no liability for any postings on the

website or actions of associate site. We reserve the right to deny service to anyone. You, and not

Www.prudentbroking.com, assume the entire cost and risk of any trading you are suggested to

undertake. You are solely responsible for making your own investment decisions. If you choose to

engage in such transactions with or without seeking advice from a licensed and qualified financial

advisor or entity, then such decision and any consequences flowing there from are your sole

responsibility. The information and commentaries are not meant to be an endorsement or offering of

any stock purchase. They are meant to be a guide only, which must be tempered by the investment

experience and independent decision-making process of the subscriber. Ravi Bhatt or any employees

are in no way liable for the use of the information by others in investing or trading in investment

vehicles utilizing the principles disclosed herein. The materials and information in, and provided by,

this site is not, and should not be construed as an offer to buy or sell any of the securities named

in materials, services, or on-line postings.

We encourage all investors to use the information on the site as a resource only to further their

own research on all featured companies, stocks, sectors, markets and information presented on the

site.

Research Team:

 Ravi Bhatt (Research Analyst)

Ravi Bhatt is a SEBI Research Analyst

SEBI Stock Broker Reg. No: INH000012591

Registered Address: 6 A MANSI SHOPPING CENTRE, ZANZARDA ROAD, JUNAGADH, GUJARAT, 362001

Compliance Officer: Ravi Bhatt, Email: ravibhatt3338@gmail.com, Phone: +91 7574962157.

For any complaints, please write a mail to ravibhatt3338@gmail.com.

“Investment in securities market are subject to market risks, read all the related documents carefully

before investing.”

“Registration granted by SEBI, and certification from NISM in no way guarantee performance of the

intermediary or provide any assurance of returns to investors.”

RAVI BHATT

RAVI BHATT

Offerings

CAPSAVAJ OPTION RESEARCH