ICICIdirect Money Manager – July 2019

(Grace) #1
ICICIdirect Money Manager June 2019

STOCK IDEAS

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ANALYST CERTIFICATION
I/Wviews e, Chirag Shah, PGDBM, expressed in this research Amit Anwani, report accurately MBA (Finance), reflect our views about the subject Research Analysts, authors and the names subscribed issuer(s) or securities. to this report, hereby We also certify that no part of our certify that all of the
compensation was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this report. It is also confirmed that above mentioned Analysts of this report have not received any compensation from the companies mentioned in the report in the preceding twelve months and
do not serve as an officer, director or employee of the companies mentioned in the report.
Terms & conditions and other disclosures:


distribution ICICI Securities of financial Limited (ICICI Securities) products. ICICI Securities is a full-service, Limited integrated is a Sebi registered investment Research banking and is, inter alia, engaged Analyst with SEBI Registration in the business Number – INH000000990. of stock brokering ICICI and
Securities Limited Sebi Registration is INZ000183631 for stock brokerbank and has its various subsidiaries engaged in businesses of housing. ICICI Securities is a subsidiary of ICICI Bank which is India's largest private sector finance, asset management, life insurance, general insurance, venture capital fund
management, etc. (“associates”), the details in respect of which are available on http://www.icicibank.com
ICICI our associates Securities might have investment is one of the leading merchant banking bankers/ and other business underwriters relationship of securities with a significant and participate in virtually percentage all securities of companies trading covered markets by our Investment in India. We and
Research in the securities Department. or derivatives ICICI Securities of any companies generally that the analysts prohibits its analysts, cover. persons reporting to analysts and their relatives from maintaining a financial interest
Recommendation trading volume etc as opposed in reports based on technical to focusing on a company's and derivative fundamentals analysis centre on studying and, as such, may not match with the recommendation charts of a stock's price movement, in fundamental outstanding positions, reports.
Investors may visit icicidirect.com to view the Fundamental and Technical Research Reports.
Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
ICICI Securities Limited has two independent equity research groups: Institutional Research and Retail Research. This report has been prepared by the Retail Research. The views and opinions expressed in this document may or may not match or may be contrary with the views, estimates, rating, target
price of the Institutional Research.
The information information contained and opinions herein is strictly confidential in this report have been prepared and meant solely for the selected by ICICI Securities recipient and are subject and may not be altered to change without in any way, transmitted any notice. The report and to, copied or
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particular Also, there may be regulatorysecurity has been suspended , compliance temporarily or other reasons and such suspension that may prevent is in compliance ICICI Securities with applicable from doing so. Non-rated regulations and/or ICICI Securities securities indicate that rating on a policies, in
circumstances where ICICI Securities might be acting in an advisory capacity to this company, or in certain other circumstances.
This its accuracy report is based on information or completeness guaranteed. obtained This report and information from public sources and sources herein is solely for informational believed to be reliable, but no independent purpose and shall not be used or considered verification has been made nor is as an
offer simultaneouslydocument , not all customers or solicitation of offer to buy or sell or subscribe may receive this report at the same time. ICICI Securities for securities or other financial will not treat recipients instruments. Though as customers disseminated by virtue of their receiving to all the customers


appropriate this report. Nothing to your specific in this report constitutes circumstances. The securities investment, legal, accounting discussed and opinions and tax advice or a representation expressed in this report may not be suitable that any investment for all investors, or strategy is suitable who must or
in make substitution their own investment for the exercise decisions, of independent based on their own investment judgment by any recipient. objectives, The recipient financial should independently positions and needs of specific evaluate the investment recipient. This may not be taken risks. The value and
return whatsoever for any loss or damage of any kind arising out of the use of this report. Pon investment may vary because of changes in interest rates, foreign exchange ast performance is not necessarily a guide to future performance. rates or any other reason. ICICI Securities accepts no liabilities


differ Investors materially are advised from those set forth in projections. to see Risk Disclosure Document Forward-looking to understand statements the risks associated are not predictions before investing and may be subject in the securities to change markets. without Actual results may notice.
ICICI by the subject Securities company or its associates for any other assignment might have managed in the past twelve months. or co-managed public offering of securities for the subject company or might have been mandated
ICICI months Securities from the date of this report for services or its associates might have received in respect any compensation of managing from the companies or co-managing public offerings, mentioned in the report during the period preceding corporate finance, investment banking twelve or
merchant banking, brokerage services or other advisory service in a merger or specific transaction.
ICICI or its associates Securities encourages or its analysts independence did not receive in research any compensation report preparation or other benefits and strives to minimize from the companies conflict mentioned in preparation in the report or third party in connection of research report. ICICI Securities
with at the time of publication preparation of the research of this report. report. Accordingly, neither ICICI Securities nor Research Analysts and their relatives have any material conflict of interest


Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions.
ICICI mentioned Securities in the report as of the last day of the month preceding or its subsidiaries collectively or Research Analysts the publication or their relatives of the research do not own 1% or more of the equity securities report. of the Company
Since various associates companies of ICICI Securities including the subject are engaged company/companies in various financial mentioned service in this report. businesses, they might have financial interests or beneficial ownership in
ICICI Securities may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report.
Neither the Research Analysts nor ICICI Securities have been engaged in market making activity for the companies mentioned in the report.
Wactivities. e submit that no material disciplinary action has been taken on ICICI Securities by any Regulatory Authority impacting Equity Research Analysis


or This other jurisdiction, report is not directed where such distribution, or intended for distribution publication, to, or use by, any person availability or use would be contrary or entity who is a citizen or resident to law, regulation of or located or which would subject in any locality, state, country ICICI Securities
and jurisdictions affiliates or to certain to any registration category or licensing of investors. requirement Persons within such jurisdiction. in whose possession this document The securities described may come are required herein may or may not be eligible to inform themselves for sale in all of and to
observe such restriction.

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