Disclaimer.

1. Investment risk

Investments in securities markets are subject to market risks; read all the related documents carefully before investing. Securities prices fluctuate, and the value of an investment can fall as well as rise. No returns are guaranteed, assured or implied. Past performance is not indicative of future results. You should make your own independent assessment, and seek professional advice where appropriate, before acting on any research.

2. Regulatory status

Kavi Kambarajan is registered with SEBI as a Research Analyst under registration number INH000029944. Registration granted by SEBI, enlistment as RA with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Registration does not protect investors against market losses.

3. Scope of research

Research reports are prepared for a general subscriber base. They do not take into account the particular investment objectives, financial situation, tax position or risk tolerance of any individual recipient, and are therefore not suitable for every investor. A recommendation may be unsuitable for you even when the analysis behind it is sound.

Analysis rests on publicly available information and on assumptions about the future that may not hold. Information can become outdated between the date of publication and the date you read it, and views may change without notice.

4. Sources and third-party information

Research draws on company filings and disclosures, exchange data, regulatory publications, financial databases and reputable financial media. While sources are selected with care, their accuracy and completeness cannot be guaranteed, and no liability is accepted for errors originating in third-party material.

5. Technology and communication

Research is delivered electronically. Delivery may be delayed or fail because of issues with email providers, networks, spam filtering or other systems outside the control of the research analyst. You should not assume a report has not been issued simply because it has not arrived — contact us and it will be re-sent.

6. Use of automation

Python, R, Power BI and Tableau are used for quantitative analysis, statistical evaluation, systematic screening and visualisation. These tools support the research process for internal, analytical and operational purposes only. They are not used to provide automated investment advice, automated recommendations or portfolio management services. Research conclusions are reached by the research analyst. Any material change to this position will be disclosed on this page.

7. No advisory or fiduciary relationship

Subscribing to research does not create an investment advisory relationship, a portfolio management relationship or a fiduciary duty. The research analyst does not act as your agent, does not execute transactions on your behalf and never takes custody of your funds or securities.

8. Limitation of liability

To the maximum extent permitted by law, the aggregate liability of the research analyst arising out of or in connection with the research services is limited to the subscription fees actually paid by you for the period in question. No liability is accepted for market losses, or for indirect, incidental or consequential loss, including loss of profit or opportunity. Nothing in this clause limits any liability that cannot be limited under applicable law.

9. Intellectual property

All content published by Kavi Kambarajan, including research reports, analysis, charts and this website, is protected by copyright. It is licensed to subscribers for personal, non-commercial use only. Redistribution, resale, republication or commercial use is prohibited.

10. General legal

This disclaimer is governed by the laws of India. The research services are intended for residents of India and are not an offer or solicitation in any jurisdiction where such an offer would be unlawful. This disclaimer may be amended to reflect regulatory or business change; the current version and its review date are published on this page.