A2legacy Capital Services Limited (Formerly known as A2legacy Securities Limited) is registered with the Securities & Exchange Board of India (SEBI) as “Research Analyst” with SEBI-registration number INH000000248
Disclosure / Disclaimer:
The following disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations)
A2legacy Capital Services Limited (Formerly known as A2legacy Securities Limited) [A2legacy] is engaged in diversified financial services business including equity, currency & commodity broking, DP services, merchant banking, portfolio management services, distribution of Mutual Fund and other investment products. A2legacy Capital Services Limited (Formerly known as A2legacy Securities Limited) is a listed public company. We submit that no material disciplinary action has been taken on A2legacy by any regulatory authority impacting Equity Research Analysis. A2legacy is registered with the Securities & Exchange Board of India (SEBI) and is a registered Trading member of the National Stock Exchange of India Limited (“NSE”), the BSE Limited (“BSE”), Multi Commodity Exchange of India Limited (MCX) and National Commodity & Derivatives Exchange Limited (NCDEX) for its stock broking activities and is Depository Participant registered with National Securities Depository Limited (NSDL) & Central Depository Services Limited (CDSL), a SEBI registered Merchant Banker, a SEBI registered Portfolio Manager and is member of Association of Mutual Funds of India (AMFI) for distribution of financial products. A2legacy is a large broking house catering to retail, HNI, institutional clients, trust, foreign portfolio investors, mutual funds, insurance companies and alternative investment funds. It operates through its branches and authorised persons spread across the country and the clients are provided online trading through internet and offline trading through AP’s, branches and Customer Care.
- This research report (“Report”) is prepared for the personal information of the authorized recipient(s) and is not for public distribution and should not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, copied, in whole or in part, for any purpose and the same shall be void where prohibited. The information provided in the Report is from publicly available data, which we believe, are reliable. While reasonable endeavors have been made to present reliable data in the Report so far as it relates to current and historical information, but A2legacy does not guarantee the accuracy or completeness of the data in the Report.
- Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Information, opinions and estimates contained in this report reflect a judgment of its original date of publication by A2legacy and are subject to change without notice. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well as rise. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments.
- The Report also includes analysis and personal views of our research team. The Report is purely for information purposes and does not construe to be investment recommendation/advice or an offer or solicitation of an offer to buy/sell any securities. The opinions expressed in the Report are our current opinions as of the date of the Report and may be subject to change from time to time without notice.
- Investors should not solely rely on the information contained in this Report and must make investment decisions based on their own investment objectives, judgment, risk profile and financial position. The recipients of this Report may take professional advice before acting on this information.
- A2legacy has other business segments / divisions with independent research teams separated by ‘Chinese walls’ catering to different sets of customers having varying objectives, risk profiles, investment horizon, etc and therefore, may at times have, different and contrary views on stocks, sectors and markets.
- This report is not directed 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 local law, regulation or which would subject A2legacy and its affiliates to any registration or licensing requirement within such jurisdiction. The securities described herein may or may not be eligible for sale in all jurisdictions or to certain category of investors.
- As A2legacy along with its associates, are engaged in various financial services business and so might have financial, business or other interests in other entities including the subject company (ies) mentioned in this Report. However, A2legacy encourages independence in preparation of research report and strives to minimize the conflict in preparation of research report. A2legacy and its associates did not receive any compensation or other benefits from the subject company (ies) mentioned in the Report or from a third party in connection with preparation of the report.
- In the last 12 month period ending on the last day of the month immediately preceding the date of publication of this research report A2legacy or any of its associates may have received compensation or engaged in activities with the subject company.
- A2legacy and its associates collectively may own (in their proprietary position) 1% or more of the equity securities of the subject company.
- The Research Analyst engaged in preparation of this Report or his/her relatives:
- does not have financial interests in the subject company
- does not own 1% or more equity
- does not have any material conflict of interest
- The Research Analyst:
- has not received compensation
- has not managed offerings
- has not received benefits
- has not been employed by subject company
- is not engaged in market making
- may have used artificial intelligence tools for data compilation
General Disclaimer
This report is for the personal information of the authorized recipient and is not for public distribution. This should not be reproduced or redistributed. This report is for general information and should not be construed as investment advice.
A2legacy or any persons connected with it do not accept any liability arising from the use of this document. Neither A2legacy, nor its directors, employees, agents or representatives shall be liable for any damages.
A2legacy and/or its affiliate companies may deal in securities mentioned herein.
A2legacy has two independent equity research groups: Institutional Research and Retail Research.
Regulatory & Compliance
We hereby declare that our activities were neither suspended nor we have defaulted with any stock exchange authority.
Additional Disclaimer for U.K.
This report is prepared by A2legacy Capital Services Limited (Formerly known as A2legacy Securities Limited) of Mumbai, India…
Additional Disclaimer for U.S.
This report was prepared, approved, published and distributed by A2legacy, a company located outside of the United States…
This report is distributed in the U.S. by A2legacy Capital INC.
Key Recommendation Structure
- BUY – 10%+ above debt instrument return
- SELL – 10%+ below
- Add – 0–10% above
- Reduce – 0–10% below
Risk Disclosure (SEBI Study)
- 9 out of 10 traders in F&O incurred losses
- Avg loss ~ ₹50,000
- Additional 28% cost on losses
Final Notes
Investments in securities market are subject to market risks.
Mutual fund investments are subject to market risks.