Terms of Service - General

LAST REVISION: [12 May, 2021]

PLEASE READ THIS TERMS OF SERVICE AGREEMENT CAREFULLY. BY USING THIS WEBSITE OR ORDERING PRODUCTS FROM THIS WEBSITE YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

This Terms of Service Agreement (the “Agreement”) governs your use of this website, https://equentis.com, Equentis Wealth Advisory Services Ltd. (“EWASL”, owner of the “Website”) offer of products for purchase on this Website, or your purchase of products available on this Website. Further, please note that the terms EWASL and R&R may be used interchangeably throughout this agreement, as applicable. This Agreement includes, and incorporates by this reference, the policies and guidelines referenced below. EWASL reserves the right to change or revise the terms and conditions of this Agreement at any time by posting any changes or a revised Agreement on this Website. EWASL will alert you that changes or revisions have been made by indicating on the top of this Agreement the date it was last revised.

The changed or revised Agreement will be effective immediately after it is posted on this Website. Your use of the Website following the posting any such changes or of a revised Agreement will constitute your acceptance of any such changes or revisions. EWASL encourages you to review this Agreement whenever you visit the Website to make sure that you understand the terms and conditions governing the use of the Website. This Agreement does not alter in any way the terms or conditions of any other written agreement you may have with EWASL for other products or services. If you do not agree to this Agreement (including any referenced policies or guidelines), please immediately terminate your use of the Website. If you would like to print this Agreement, please click the print button on your browser toolbar.

I. product-image-randr

Terms of Offer. This Website offers for sale Research Reports via subscription and also Customized Research Reports (the “Products”). By placing an order for Products through this Website, you agree to the terms set forth in this Agreement.

Customer Solicitation: Unless you notify our third party call center reps or direct EWASL/R&R sales reps, while they are calling you, of your desire to opt out from further direct company communications and solicitations, you are agreeing to continue to receive further emails and call solicitations EWASL and its designated in house or third party call team(s) even if you are listed on the national DND list or any similar lists as available.

Opt Out Procedure: We provide 3 easy ways to opt out of from future solicitations.

  • You may use the opt-out link found in any email solicitation that you may receive.
  • You may also choose to opt out, via sending your email address to: support@researchandranking.com
  • You may send a written remove request to – “Mumbai office” – Marathon Futurex, A-603 6th Floor, Mafatlal Mills Compound, N M Joshi Marg, Lower Parel East, Mumbai 400013

Proprietary Rights: EWASL has proprietary rights and trade secrets in the Products. You may not copy, reproduce, resell or redistribute any Product manufactured and/or distributed by EWASL. EWASL also has rights to all trademarks and trade dress and specific layouts of this webpage, including calls to action, text placement, images and other information.

Sales/Service Tax: If you purchase any Products, you will be responsible for paying any applicable sales/service tax.

Any returns on our investment strategy for all/any of our products does not account the charges you may incur for brokerage/s, our advisory fee, and taxes. The returns are calculated on absolute basis on our personalized portfolio and to get similar returns we recommend that you replicate our advise in a similar and timely manner with your Investment service provider (Broker / Bank). The customer will be responsible for any charges and taxes incurred by them on any type of capital gains in both the short or long term.

II. website-image-randr

Content, Intellectual Property & Third Party Links: In addition to making Products available, this Website also offers information and marketing materials. EWASL may not always create the information offered on this Website; instead the information may be gathered from other sources. To the extent that EWASL does create the content on this Website, such content is protected by intellectual property laws of the India, foreign nations, and international bodies. Unauthorized use of the material may violate copyright, trademark, and/or other laws. You acknowledge that your use of the content on this Website is for personal, noncommercial use. Any links to third-party websites, if provided, are provided solely as a convenience to you. EWASL does not endorse the contents on any such third-party websites. EWASL is not responsible for the content of or any damage that may result from your access to or reliance on these third-party websites. If you link to third-party websites, you do so at your own risk.

Use of Website: EWASL is not responsible for any damages resulting from use of this website by anyone. You will not use the Website for illegal purposes. You will (1) abide by all applicable local, state, national, and international laws and regulations in your use of the Website (including laws regarding intellectual property), (2) not interfere with or disrupt the use and enjoyment of the Website by other users, (3) not resell material on the Website, (4) not engage, directly or indirectly, in transmission of “spam”, chain letters, junk mail or any other type of unsolicited communication, and (5) not defame, harass, abuse, or disrupt other users of the Website.

License: By using this Website, you are granted a limited, non-exclusive, non-transferable right to use the content and materials on the Website in connection with your normal, noncommercial, use of the Website. You may not copy, reproduce, transmit, distribute, or create derivative works of such content or information without express written authorization from EWASL or the applicable third party (if third party content is at issue).

Posting: By posting, storing, or transmitting any content on the Website, you hereby grant EWASL a perpetual, worldwide, non-exclusive, royalty-free, assignable, right and license to use, copy, display, perform, create derivative works from, distribute, have distributed, transmit and assign such content in any form, in all media now known or hereinafter created, anywhere in the world. EWASL does not have the ability to control the nature of the user-generated content offered through the Website. You are solely responsible for your interactions with other users of the Website and any content you post. EWASL is not liable for any damage or harm resulting from any posts by or interactions between users. EWASL reserves the right, but has no obligation, to monitor interactions between and among users of the Website.

III. DISCLAIMER OF WARRANTIES-image-randr

YOU EXPRESSLY UNDERSTAND AND AGREE THAT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW: This Site, the services and other materials are provided “AS-IS”, without warranty of any kind, express, implied, statutory or otherwise, including the implied warranties of title, non-infringement, merchantability or fitness for a particular purpose and that we assume no responsibility for your (in)ability to (or any costs or fees associated with your (in)ability to) obtain access to https://equentis.com. Nor do we assume any liability for the failure to store or maintain any user communications or personal settings.
PROVIDED that the User agrees, accepts and understands that all Research Advisory Services related work is carried out on a good-faith basis and as per specific understanding / agreement by and between us and the party concerned.

The website makes no warranty that:

  • Your requirements will be met or that services provided will be uninterrupted, timely, secure or error-free;
  • Materials, information obtained and descriptions of services will be effective, accurate or reliable;
  •  any errors or defects in the website, services or other materials will be corrected;
  • The services availed shall be available throughout the year, or available at all times; or Your concerns will be addressed by us to your satisfaction.

No advice or information, whether oral or written, obtained by you from EWASL/R&R or through or from its services shall create any warranty not expressly stated in these terms and conditions.
The user understands and agrees that any material or data downloaded or otherwise obtained through the website, including all services related work is done entirely at their own discretion and risk and they will be solely responsible for any damage to their computer systems or loss of data that results from the download of such material, data or service. The website accepts no liability for any errors or omissions, with respect to any information provided to you whether on behalf of itself or third parties.

IV. LIMITATION OF LIABILITY-image-randr

EWASL entire liability, and your exclusive remedy, in law, in equity, or othwerwise, with respect to the website content and products and/or for any breach of this agreement is solely limited to the amount you paid, less shipping and handling, for products purchased via the website.
EWASL will not be liable for any direct, indirect, incidental, special or consequential damages in connection with this agreement or the products in any manner, including liabilities resulting from (1) the use or the inability to use the website content or products; (2) the cost of procuring substitute products or content; (3) any products purchased or obtained or transactions entered into through the website; or (4) any lost profits you allege.
Some jurisdictions do not allow the limitation or exclusion of liability for incidental or consequential damages so some of the above limitations may not apply to you.

V. INDEMNIFICATION-image-randr

You will release, indemnify, defend and hold harmless EWASL and any of its contractors, agents, employees, officers, directors, shareholders, affiliates and assigns from all liabilities, claims, damages, costs and expenses, including reasonable attorneys’ fees and expenses, of third parties relating to or arising out of (1) this Agreement or the breach of your warranties, representations and obligations under this Agreement; (2) the Website content or your use of the Website content; (3) the Products or your use of the Products (including Trial Products/Offer); (4) any intellectual property or other proprietary right of any person or entity; (5) your violation of any provision of this Agreement; or (6) any information or data you supplied to EWASL. When EWASL is threatened with suit or sued by a third party, EWASL may seek written assurances from you concerning your promise to indemnify EWASL; your failure to provide such assurances may be considered by EWASL to be a material breach of this Agreement. EWASL will have the right to participate in any defense by you of a third-party claim related to your use of any of the Website content or Products, with counsel of EWASL’s choice at its expense. EWASL will reasonably cooperate in any defense by you of a third-party claim at your request and expense. You will have sole responsibility to defend EWASL against any claim, but you must receive EWASL’s prior written consent regarding any related settlement. The terms of this provision will survive any termination or cancellation of this Agreement or your use of the Website or Products.

VI. PRIVACY-image-randr

EWASL believes strongly in protecting user prBy using this Website or ordering Products, you acknowledge that you have read and agree to be bound by this Agreement and all terms and conditions on this Website Privacy. Please refer to EWASL privacy policy, incorporated by reference herein, posted on the Website.

VII. AGREEMENT TO BE BOUND-image-randr

By using this Website or ordering Products, you acknowledge that you have read and agree to be bound by this Agreement and all terms and conditions on this Website.

VIII. GENERAL-image-randr

Force Majeure: EWASL will not be deemed in default hereunder or held responsible for any cessation, interruption or delay in the performance of its obligations hereunder due to earthquake, flood, fire, storm, natural disaster, act of God, war, terrorism, armed conflict, labor strike, lockout, or boycott.

Cessation of Operation: EWASL may at any time, in its sole discretion and without advance notice to you, cease operation of the Website and distribution of the Products.
Entire Agreement: This Agreement comprises the entire agreement between you and EWASL and supersedes any prior agreements pertaining to the subject matter contained herein.

Effect of Waiver: The failure of EWASL to exercise or enforce any right or provision of this Agreement will not constitute a waiver of such right or provision. If any provision of this Agreement is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties’ intentions as reflected in the provision, and the other provisions of this Agreement remain in full force and effect.

Governing Law; Jurisdiction: This Website originates from Mumbai, Maharashtra. This Agreement will be governed by the laws of the State of Maharashtra without regard to its conflict of law principles to the contrary. Neither you nor EWASL will commence or prosecute any suit, proceeding or claim to enforce the provisions of this Agreement, to recover damages for breach of or default of this Agreement, or otherwise arising under or by reason of this Agreement, other than in courts located in Mumbai, Maharashtra. By using this Website or ordering Products, you consent to the jurisdiction and venue of such courts in connection with any action, suit, proceeding or claim arising under or by reason of this Agreement.

Waiver of Class Action Rights: By entering into this agreement, you hereby irrevocably waive any right you may have to join claims with those of other in the form of a class action or similar procedural device. Any claims arising out of, relating to, or connection with this agreement must be asserted individually.

Termination: EWASL reserves the right to terminate your access to the Website if it reasonably believes, in its sole discretion, that you have breached any of the terms and conditions of this Agreement. Following termination, you will not be permitted to use the Website and EWASL may, in its sole discretion and without advance notice to you, cancel any outstanding orders for Products. If your access to the Website is terminated, EWASL reserves the right to exercise whatever means it deems necessary to prevent unauthorized access of the Website. This Agreement will survive indefinitely unless and until EWASL chooses, in its sole discretion and without advance to you, to terminate it.

Domestic Use: EWASL makes no representation that the Website or Products are appropriate or available for use in locations outside India. Users who access the Website from outside India do so at their own risk and initiative and must bear all responsibility for compliance with any applicable local laws.

Assignment: You may not assign your rights and obligations under this Agreement to anyone. EWASL may assign its rights and obligations under this Agreement in its sole discretion and without advance notice to you.

BY USING THIS WEBSITE OR ORDERING PRODUCTS FROM THIS WEBSITE YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT.

IX. PAYMENTS AND TAXES-image-randr

ALL SALES OF SUBSCRIPTION PRODUCTS ARE FINAL.

For enjoying uninterrupted services the customer is responsible for the timely payment of the renewal fee.

Your total price will include the amount of the product plus any applicable tax; such tax is based on the tax rate in effect at the time you subscribe to the product.

Prices for products offered on the website may change at any time and we do not provide price protection or refunds in the event of a price reduction or promotional offering.

X. REFUND POLICY-image-randr

As per SEBI guidelines, the client is entitled to claim refund during the tenure of his subscription for the unexpired period excluding GST and fees of one quarter. The Fees of one quarter will be charged as breakage fee. Following samples can be referred for better clarity:

Refundable amount = Fees paid excluding GST* (-) One quarter breakage fees (-) Fee for used period 

*Please note that GST is non refundable.

Example 1:

Mr. Ram availed subscription of 5 in 5 services on April 1 and paid the fees of Rs. 14,000 for two quarters in advance. Mr. Ram wishes to terminate the services and requests for refund of subscription amount on April 5. 

Fees Paid

Used period Fee deducted

Breakage Fee Deducted (One Quarter)

Applicable Refund

14000

388.88

7000

6611.11

 

Example 2:

 Mr. Rahul availed subscription of 5 in 5 services on April 1 and paid the fees of Rs. 14,000 for two quarters. Mr. Rahul wishes to terminate the services and requests for refund of subscription amount on May 5.

Fees Paid

Used period Fee deducted

Breakage Fee Deducted (One Quarter)

Applicable Refund

14000

2722.22

7000

4277.78

 

Example 3:

Ms. Shreya availed subscription of 5 in 5 services on April 1 and paid the fees of Rs. 14,000 for two quarters. Ms. Shreya wishes to terminate the services and requests for refund of subscription amount on July 5.

Since the unused period is less than one quarter, there will be no applicable refund after deducting breakage fee of one quarter.



XI. Research Reports-image-randr

Reports provided upon subscription are solely for the subscriber’s own investment purpose. Any act of copying, reproducing, distributing or sharing our research report on social media/with any other person whether wholly or in part for any purpose without the prior written consent of Equentis - Research & Ranking is strictly prohibited and shall be deemed to be copyright infringement. The Research reports are unique as per the risk profile of the customer. Necessary legal action will be taken for such breach.

XI. E-MANDATE-image-randr
What is an eMandate?

e-Mandate is a payment service initiated by RBI and the National Payments Corporation of India (NPCI). A mandate is a standard instruction to automatically debit the instructed amount from your bank account. The mandate is also known as NACH (NACH stands for National Automated Clearing House).

My eMandate setup failed. How should I set it up?

eMandate registration could fail due to multiple reasons like authentication failure, incorrect login details, premature closure of registration screen etc.

In such cases, verify all your details and retry. If you are still not able to register successfully, get in touch with your Wealth counselor or email at support@researchandranking.com and we will guide you through the process.

How do I cancel my eMandate?

You can disable auto-pay anytime to stop the payment using your banking account. If you want to cancel your mandate, you can do it by yourself using our feature “Cancel eMandate'' in your assigned dashboard. You can also get in touch with our support  team at support@researchandranking.com and we will guide you through the process.


TERMS OF SERVICE - DHANWAAN

Equentis Wealth Advisory Services Limited (EWA) is a SEBI Registered Investment Adviser having registration no: INA000003874 dated December 8, 2015. The Client is desirous of obtaining Investment Advisory Services from EWA.

The Client has satisfied itself that EWA possesses requisite level of knowledge and competence to provide Investment Advisory Services and do hereby appoint EWA as an investment Advisor, which EWA has accepted it subject to terms and conditions as more particularly set out herein:

1. APPOINTMENT OF EWA-image-randr

Client hereby appoints EWA to provide Investment Advisory Services from time to time in respect of the Funds and Securities held by the Client in accordance with the terms stipulated under this Agreement. EWA shall be acting solely in its capacity as an advisor and facilitator to the Client and shall not at any point in time accept or hold in its account any Funds or Securities from the Client and/ or Securities.

2. SCOPE OF SERVICES OF EWA AS INVESTMENT ADVISOR-image-randr

2.1 EWA agrees to provide the services as more particularly set out in Schedule A hereto (“Services”).

2.2 EWA shall, provide the Service to the Client on a continuous basis during the term of this Agreement.

3. TERM AND TERMINATION-image-randr

3.1 This Agreement is deemed to have commenced on the date as mentioned hereinabove i.e. from the date of execution of this Agreement for the period of one year.

3.2 The Agreement will be deemed to be terminated after date of completion of the agreement term if not renewed for the subsequent year under the prevalent terms & conditions.

4. CLIENT’S RIGHTS-image-randr

4.1 Notwithstanding the provisions of this Agreement, the Client may, if he so desires, seek advice on the Portfolio strategy, investment or disinvestments from any person other than EWA as it may deem fit, for the same Funds and Securities in respect of which the EWA has rendered its Services.

4.2 The Client has the sole discretion to decide on whether to act upon the advice tendered by the EWA and the EWA shall have no power, authority, responsibility or obligation to ensure or cause the Client to act upon the advice 4 tendered by EWA pursuant to this Agreement

5. ASSET UNDER ADVISORY (AUA)-image-randr

The Asset Under Advisory (AUA) for initiating the services would be disclosed by the client at the time of execution of the agreement and the same on the good faith would be considered as the initial corpus for all calculation purposes including Fee / Charge Calculations, portfolio reports & future recommendations.

6. CHARGES AND FEES-image-randr

6.1 In consideration of EWA providing the Investment Advisory Services, the Client agrees to pay to EWA charges/fees as per EWA’s schedule of charges/fees (more particularly described in Schedule B) in advance before the commencement of services.

6.2 The schedule of charges/fees is subject to change by EWA with prior notice and consent of the Client to such changes. All sales and purchases and all other acts done by the Client pursuant to this Agreement shall be at the Client’s risk and cost and the consideration thereof shall be borne by the client.

6.3 The Client shall also pay any applicable taxes, levies or duties, including service tax, short term & or long term capital gains tax etc. that may be levied on any transactions undertaken pursuant to this Agreement.

7. IMPLEMENTATION & EXECUTION-image-randr

7.1 The Client understands that the advisory recommended by “EWA” would be executed by Client himself. Client is free to implement their plan through any broker-dealers or custodial services of their choice. “EWA” does not possess or exercise any discretion with respect to client transactions.

7.2 The recommendations would be communicated to the Client and an acknowledgement of the same would be considered as a confirmation thus would be considered as executed on the closing price of that day.

8. LEGAL AND ACCOUNTING SERVICES-image-randr

It is expressly understood and agreed between the parties of this Agreement that “EWA” will not provide accounting or legal advice nor prepare any accounting or legal documents.

9. THIRD PARTY RISK-image-randr

As the execution of the trade would be solely the responsibility of the client, EWA shall not be liable for any loss or damage caused by reason of failure or delay by the broker-dealer or custodian appointed by client.

10. CONFLICT OF INTERESTS-image-randr

10.1 Client understands that EWA serves as Investment Adviser for other clients and will continue to do so. Client also understands that EWA may give advice or take action in performing their duties to other clients, or for their own accounts, that differ from advice given to or acts taken for the Client, subject to meeting all applicable regulations.

10.2 The Client agrees that the EWA may refrain from rendering any advice or services concerning securities of companies of which any of the EWA’s or affiliates of the EWA’s officers, directors, or employees are directors or officers, or companies in which EWA or any of EWA’s affiliates or the officers, director and employees or any of them has or may have substantial economic interest. Such conflict of interest will be informed to the Client prior to rendering such advice or services with respect to the Portfolio.

11. RISK ACKNOWLEDGMENT-image-randr

EWA does not guarantee the future performance of the Account or any specific level of performance, the success of any investment decisions or strategy that EWA may use. Client understands that investment decisions made by EWA are subject to various market, currency, economic, political and business risks, and that those investment decisions will not always be profitable. Except as may otherwise be provided by law, EWA will not be liable to Client for (i) any loss that Client may suffer by reason of any investment decision made or other action taken or omitted in good faith by EWA with that degree of care, skill, prudence, and diligence under the circumstance that a prudent person acting in a fiduciary capacity would use (ii) any loss arising from EWA’s adherence to Client’s written or oral instructions; or (iii) any act or failure,to act by the Custodian, any broker or dealer to whom EWA directs transactions for the Account, or by any other third party.

12. INDEMNITIES-image-randr

Without prejudice to the right of indemnity available to EWA under any law, the Client agrees to indemnify and hold EWA harmless to the full extent against:

12.1 Any and all lawful claims, losses, damages, liabilities, costs and expenses as incurred in connection with investigation of, preparation for and defense of any pending or threatened claim and any litigation or other proceeding arising out of or related to any actual or proposed acts done or not done or EWA ‘s engagement hereunder.

12.2 For any negligence/mistake or misconduct by the Client.

12.3 For any breach or non-compliance by the Client of the rules/terms and conditions stated in this Agreement.

13. CONFIDENTIALITY-image-randr

Each party shall treat as confidential all information obtained from the other pursuant to the Agreement and shall not divulge such information to any person (except only to those representatives/employees who need to know the same in due course of its business or required to be disclosed legally) without the other party’s prior written consent provided that this clause shall not extend to information which was rightfully in the possession of such party prior to the commencement of the negotiations leading to the ; Agreement or which information is available in public domain or becomes available at a future date (other than as a result of a breach of this clause).

14. GOVERNING LAW AND JURISDICTION CLAUSE-image-randr

This Agreement will be governed by the Laws of India and any disputes arising herein shall be subject to the exclusive jurisdiction of the Courts of Mumbai.

15. TAX TREATMENT-image-randr

In view of the individual nature of tax benefits, each Client is advised to consult his or her own tax adviser with respect to the specific tax implications arising out of his or her investments.

16. DISCLOSURE-image-randr

16.1 Equentis Wealth Advisory Services Ltd. (EWASL) is a SEBI Registered Investment Advisor (Regn. No. INA000003874). The Investment Advisory activities are carried on through a separately identifiable division of the company "Investment Advisory Division". By virtue of this Registration, the Company is entitled to carry on the business of Research Entity in a separate designated Research Division of the Company. Equentis Capital Limited (ECL) is an associate company. ECL is registered as an Authorised Person with Stock Exchanges through Shri Parasram Holdings Private Limited (SPHPL), a New Delhi based Stock Broker. [SPHPL’s SEBI REGN. NO. NSE(cash)- INB230814036, (F&O)- INF230814036; BSE(cash)- INB010814037, (F&O)- INF010814037; NSDL IN-DP-NSDL-194-2001 DP ID- IN302365; CDSL DPID- 12058200; FMC REGN. NO. NCDEX/TCM/CORP/0572; MCX/TCM/CORP/0828; AMFI REGN. No.ARN- 35616, CURRENCY REGN. NO.- INE230814036)]

16.2 There has been no adverse business & disciplinary history in respect of any of the aforesaid entities

16.3 Neither EWASL nor ECPL is engaged in any type of distribution services. While EWASL does not earn any brokerage on any stock broking transactions by ECPL; ECPL earns brokerage from SPHPL, subject to the broker limits imposed by SEBI/Exchanges, in respect of the stock broking transactions executed by it on behalf of its clients.

16.4 The client notes and acknowledges that, based on the Investment Advisory Services offered by us, the client may chose and utilize the services of any stock broker or any other intermediary to execute such transactions. EWASL does not promote the services offered by ECPL to any of its clients. In case the client chooses to avail of the services of ECPL for executing any stock broking transaction, the client shall do the same at his own volition and free will. In such a case, such transactions will be at an arms-length and independent of the Investment Advisory Services provided by EWASL.

16.5 At EWASL, there exist 2 separately identifiable divisions namely "Investment Advisory Division" and "Research Division", which provide Investment Advisory Services and Research Analysis respectively to the clients. EWASL, its Investment advisory Division and/or its Research Division may hold and/or be involved in proprietary trading of stocks. Consequently there could be long or short positions in the financial products or securities that are subject matter of advice. However, due care will be taken to ensure that any such investments/holdings do not violate any SEBI Regulations in letter and spirit. EWASL will not execute any transactions in its own account(s) which are contrary to advice given to clients for a period of fifteen days from the day of such advice. Provided that during the period of such fifteen days, if we are of the opinion that the situation has changed, then we may enter into such a transaction after giving such revised assessment to the client at least 24 hours in advance of entering into such transaction.

16.6 The Research Analysis service of EWASL is based on rigorous fundamental research carried out for all the companies/stocks for which Research reports are made. This Reports are prepared on the basis of publicly available information, internally developed data and other sources believed by EWAPL to be reliable. Trading and investment in securities are subject to market risks. There are no assurances or guarantees that the objectives of any of trading / investment in securities will be achieved. The trades/ investments referred to herein may not be suitable to all categories of traders/investors. The names of securities mentioned herein do not in any manner indicate their prospects or returns. The value of securities referred to herein may be adversely affected by the performance or otherwise of the respective issuer companies, changes in the market conditions, micro and macro factors and forces affecting capital markets like interest rate risk, credit risk, liquidity risk and reinvestment risk.

16.7 Clients are advised to understand risks associated with stock market, the details of which and the disclaimers thereof are mentioned in the respective research reports. Clients are required to mandatorily assess their risk appetite by filling out our investment Risk Profiler and read all the Research Reports thoroughly before arriving at their independent investment decisions.

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