NOTE : " This document is a translated version of the client registration documents
in English and is being provided in vernacular language to facilitate better understanding
by the investors. In case of any ambiguity, the contents of the English version
would prevail. "
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We may from time to time update this Policy. When we do so, we will post notice
you visit our Web site.
PCS Securities Ltd has taken due care and caution in compilation of data for its
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Disclosures: Research Report is published by PCS Securities Limited (hereinafter
referred to as “PCS”) for private circulation. PCS is a registered Stock Broker
with National Stock Exchange of India Limited, BSE Limited and Metropolitan Stock
Exchange of India Limited in cash, derivatives and currency derivatives segments.
It is also having registration as a Depository Participant with CDSL & Portfolio
Manager. PCS has registered as Research Analyst under SEBI (Research Analyst) Regulations,
2014 having registration No. INH200000196.
PCS has other business divisions with independent research teams separated by Chinese
walls, and therefore may, at times, have different or contrary views on stocks and
PCS or its associates has not been debarred / suspended by SEBI or any other regulatory
authority for accessing / dealing in securities Market. PCS or analyst or his relatives
do not hold any financial interest in the subject company. Associates may have such
interest in its ordinary course of business as a distinct and independent body.
PCS or its associates or Analyst do not have any conflict or material conflict of
interest at the time of publication of the research report with the company covered
by Analyst. PCS or its associates or Analyst or his relatives do not hold beneficial
ownership of 1% or more in the subject company at the end of the month immediately
preceding the date of publication of this research report.
PCS or its associates / analyst has not received any compensation / managed or co-managed
public offering of securities of the company covered by Analyst during the past
twelve months. PCS or its associates have not received any compensation or other
benefits from the company covered by Analyst or third party in connection with the
research report. Analyst has not served as an officer, director or employee of subject
company and PCS / analyst has not been engaged in market making activity of the
Note: The above is general disclosures made by PCS Securities Ltd. Please
read actual disclosure and disclaimer for each Research Report referred in that
particular Research Report.