Research Rationale

• Recommendations are based on publicly available information believed to be reliable and accurate at the time of publication.
• Unless otherwise stated, recommendations are intended for a 12-month investment horizon.
• Ratings are based on absolute returns (positive or negative) and should be interpreted accordingly.
• Security prices may fluctuate due to market volatility or company-specific events.
• We reserve the right to revise or withdraw ratings based on reassessment of valuation or market events.
• Opinions expressed are subject to change without notice.
• SIDDHARTH JAIN PROPRIETOR MAGICFIN INDIA RESEARCH strictly adheres to SEBI (Research Analyst) Regulations, 2014 and does not provide portfolio management services (PMS) or execution services.

• The views expressed represent the honest and independent opinions of the analyst on the subject securities.
• Reports are prepared using data from publicly available sources deemed reliable.
• Analyst compensation is not influenced by the views or recommendations expressed.

As on the date of publication, neither the firm, its analysts, nor their relatives or associates:

• Have any financial interest in the subject company.
• Own 1% or more of the subject company’s equity securities.
• Have received any compensation from the subject company in the past 12 months.
• Have provided investment banking or brokerage services to the subject company.
• Serve in any managerial or directorial capacity for the subject company.

SIDDHARTH JAIN PROPRIETOR MAGICFIN INDIA RESEARCH, its employees, and associates have no prior disciplinary action, regulatory penalties, or adverse rulings from SEBI or any other authority.

• Research may include technical and fundamental analysis supported by AI and algorithm-based tools.
• AI may introduce data biases, system vulnerabilities, or interpretation errors.
• There is no guarantee of success or return from AI-assisted insights.
• Client data privacy is maintained as per applicable regulations.

• Email: magicfinindiaresearch@gmail.com
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• SMARTODR: smartodr.in
• Investor Awareness: investor.sebi.gov.in