Reliance Securities Limited: Disclaimer

This report is for private circulation only, and not for sale.
Reliance Securities Limited or any of its affiliate companies (collectively referred to as "RELIANCE SECURITIES ") do not guarantee the accuracy or correctness of the information provided in this report or that any forecasts or projections made in this report will be realised.
The information set out in this report has been prepared by the author based upon information available to him and/or made available to him and/or from information available in the public domain. No independent verification has been made of such information or sources. This report is for information purposes only. It has not been prepared with regard to the specific investment objectives, financial situations and/or particular needs of any specific person who may receive this report. Investors should seek advice from Financial Advisors/Certified Financial Planners/Financial Experts before taking any investment decisions or acting on any investment strategies that may have been discussed or recommended in this report. No reliance may be placed for any purpose whatsoever on the information contained in this report or on its completeness.
RELIANCE SECURITIES makes no representations or warranties regarding the accuracy, completeness or reliability of any information provided in this report. RELIANCE SECURITIES assumes no responsibility for errors or omissions in the report. Recipients should conduct their own research before acting on any information received through the report.
RELIANCE SECURITIES shall not be responsible or liable for any losses, costs, expenses, charges, including notional losses/lost opportunities incurred by a recipient as a result of acting or non acting on any information/material contained in the report.
RELIANCE SECURITIES shall not be liable to the recipient or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the report and its contents.
This report does not constitute nor is it intended to constitute an offer to buy or sell or a solicitation to an offer to buy or sell securities or derivatives or mutual fund units or any financial products or an attempt to influence the opinion or behaviour of investors or recipients or provide any investment advice.
RELIANCE SECURITIES or their employees have or may have from time to time an outstanding position or holding in the securities or other related investments of issuers and companies mentioned herein.
All information/material provided as part of the report shall be for personal use of the Recipients and not for commercial use. No Recipient shall distribute, disseminate or part with any information/material contained in the report to any person or entity whether in oral, written, electronic or digital form.
RELIANCE SECURITIES does not offer tax advice on the consequences of investment and the recipient is advised to contact an independent tax adviser for the same. This report is not to be relied upon in substitution for the exercise of independent judgment.
The investments discussed or recommended in the report may not be suitable for all investors. This report was originally prepared and issued by RELIANCE SECURITIES for distribution to their market professional and institutional investor customers. Recipients who are not market professional or institutional investor customers must make their own investment decisions based on their own specific investment objectives and financial position and using such independent professional advisors as they believe necessary.
Trading in stocks, stock derivatives, and the like is inherently risky and the recipient agrees to assume complete and full responsibility for the outcomes of all trading decisions that recipient makes, including but not limited to loss of capital.
The distribution of this report in certain jurisdictions may be restricted or prohibited and accordingly, persons who come into possession of this report are required to inform themselves about, and to observe, any such restrictions. This report is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject RELIANCE SECURITIES to any registration or licensing requirement within such jurisdiction.
Any facts or figures mentioned in this report are merely indicative and the recipients should obtain correct facts and figures before making any investment decisions.
Structured securities are complex instruments, typically involve a different levels of risk and are designed for sale only to sophisticated/institutional investors who are capable of understanding and taking the risks involved.
Mutual fund investments are subject to market risks. Please read the offer documents carefully before investing. Past performance is not indicative of future results.
RELIANCE SECURITIES may have issued, and may in the future issue, a trading call regarding securities discussed in this report. Trading calls are short term trading opportunities based on market & technical events. Stock ratings reflect investment recommendations based on expected total return over a 1 year period. Because trading calls and stock ratings reflect different assumptions, trading calls may be different from the stock rating calls. Further, RELIANCE SECURITIES may have issued, or may in the future issue, other reports that are inconsistent with or reach different conclusions from the conclusions presented in this report. RELIANCE SECURITIES is under no obligation to ensure that such other reports are brought to the attention of the recipients of this report.
Opinions, projections and estimates in this report solely constitute the current judgment of the author of this report as of the date of this report and do not in any way reflect the views of RELIANCE SECURITIES, its directors, officers, or employees.
Opinions, projections and estimates given in this report are subject to change without notice. RELIANCE SECURITIES has no obligation to update, modify or amend this report or to otherwise notify a recipient thereof in the event that any opinion, estimate or projection set forth herein, changes or subsequently becomes inaccurate.
This report may provide hyperlinks to other websites. Except to the extent to which the report refers to website of RELIANCE SECURITIES, RELIANCE SECURITIES states that it has not reviewed the linked site and takes no responsibility for the content contained in such other websites. Such hyperlinks are provided solely for the convenience and information of the recipient and the content of the linked site does not in any way form part of this report. Accessing such websites shall be at recipient's own risk.
This report is specifically for residents in the territory of India. Although access may be available to recipients outside India, though not expressly granted, RELIANCE SECURITIES shall have no legal liabilities whatsoever in any laws of any jurisdiction other than India.
The report contains material, including text, graphics, which is protected by copyright and/or other intellectual property rights. All copyright and other intellectual property rights in this material are either owned by RELIANCE SECURITIES or have been licensed to RELIANCE SECURITIES by the owner(s) of those rights so that it can use this material as part of this report.
It is expressly agreed by the recipient of the report that exclusive jurisdiction for any dispute with RELIANCE SECURITIES resides in the courts at Mumbai and the Recipient expressly consents to the exercise of jurisdiction in the courts of Mumbai in connection with any such dispute. These terms shall be governed by and construed in accordance with the laws of India.
The information contained in this report may not be transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without the prior written consent of RELIANCE SECURITIES.
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