Disclaimer and Disclosures

Statement of Research Report/Recommendation

Pankaj Kumar Jain, Proprietor – Eye On Trade Research, SEBI Reg. No. INH000021386

The following Disclosures are being made in compliance with the SEBI Research Analyst Regulations 2014 (herein after referred to as the Regulations)

Research Entity Disclosures

EYE ON TRADE RESEARCH (Proprietorship of Mr. Pankaj Kumar Jain) (“Research Entity”) (“Research Entity”) is registered with SEBI as a Research Analyst with Registration No. INH000021386.

The research entity received its SEBI registration on 30/6/2025 and is engaged in research and recommendation services.

The focus of the research entity is to provide research and recommendation services to clients. The analyst aligns his interests with those of the client and seeks to provide the most suitable and well-researched services.

Research entity Means (EYE ON TRADE RESEARCH (Proprietorship of Mr. Pankaj Kumar Jain) (“Research Entity”) is registered with SEBI as a Research Analyst with Registration No. INH000021386.
Research entitie have no material adverse disciplinary history as on the date of publication of this report.
Research entity has no associates.
Research entity or its associate or Research Analyst or his relative have no financial interest in the securities recommended.
There are no actual or potential conflicts of interest arising from any connection of Research entity or its associate or Research Analyst or Proprietor or his relatives to or association with any issuer of products/securities.
Research entity or its associate or Research Analyst or his relative, may have actual/beneficial ownership of one per cent or more securities of the subject company.
Research entity or its associate or Research Analyst or his relative has no connection or association of any sort with any issuer of products/securities recommended herein.
Research entity or its associate or Research Analyst or his relative has no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/securities.
Research entity or Research analyst or its associates has not received any kind of remuneration or consideration form the products/securities recommended herein.
Research entity or Research analyst or its associates have not received any compensation from the subject company in the past 12 months.
Research entity or Research analyst or its associates have not managed or co-managed the public offering of Subject Company in the past 12 months.
Research entities or Research analysts or its associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months.
Research entity or Research analyst or its associates have not received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past twelve months.
Research entities or Research analysts or its associates have not received any compensation or other benefits from the subject company or third party in connection with the research report or research recommendations.
Research entities or Research analysts or its associates have not received any compensation for products or services from the subject company in the past 12 months.
The subject company is or was not a client of Research entity or Research analyst or its associates during twelve months preceding the date of this report.
Research Analysts or its associates have not served as an officer, director or employee of the subject company.
Research Entity or Research Analysts has not been engaged in market making activity of the subject company.

Disclosure Regarding Other Interests

Mr. Pankaj Kumar Jain (Proprietor, Eye On Trade Research, SEBI Registration No. INH000021386) holds a 50% equity stake in Primepaisa Finserve Private Limited, a company engaged in providing educational and training services related to the financial markets.

This entity is strictly involved in training and knowledge dissemination activities, and does not engage in any form of investment advisory, stock recommendation, or portfolio management services.

This association does not influence the independence or objectivity of the research views expressed in this report.

Any potential conflict of interest, if it arises in the future, will be appropriately disclosed in accordance with applicable regulations.

General Disclaimer and Disclosure Statement of Research Report/Recommendation

PANKAJ KUMAR JAIN, Proprietor of Eye On Trade Research | SEBI Registration No. INH000021386

Source of Information Disclaimer

The recommendations provided in this report are based on information believed to be reliable and publicly available. However, the accuracy or completeness of the data cannot be guaranteed.

“We generally use publicly available information, reliable data sources, exchange filings, company disclosures, company presentation, concall, financial reports, news platforms, and other standard industry databases for preparing our research reports.”

Third-Party Research Reference Disclosure

While preparing this research report, we may have referred to publicly available research reports, insights, or analysis published by other SEBI-registered Research Analysts, brokerage firms, financial institutions, or reputed media portals.

However, the final views, analysis, and recommendations expressed in this report are completely our own and independent.

We generally use publicly available sources and reputed third-party platforms for our research and analysis. These may include but are not limited to:

TradingView
Screener.in
RupeeVest
Trendlyne
Tijori Finance
Value Research Online
Prysm
Sensibull
AI-powered research tools like ChatGPT, Gemini, Perplexity.ai, and NotebookLM
More

Time Horizon

Unless otherwise specified, all recommendations in this report are based on a 12-month investment period.

Basis of Ratings

Investment ratings or recommendations are based on absolute returns (positive or negative) and are not relative to any benchmark index.

Market Risk Factors

Securities prices may rise or fall due to changes in market conditions, macroeconomic developments, or company-specific events.

Key Risks

Market Risk
Macroeconomic Risk
Sector-specific Risk
Management Risk
Regulatory Risk
Liquidity Risk
Company-specific Risk
Valuation Risk
Derivative-driven Volatility
Currency and Global Exposure Risk
Lower Circuit Risk
Upper Circuit Risk
Market Crash Risk (External Factors)
Sudden Capital Erosion Risk
Stop-loss Slippage & Illiquidity Risk

Several other investment options are available in the market. Investing in equity markets inherently involves risk, including the possibility of loss in capital.

Revision of Recommendations

We may revise our ratings or recommendations from time to time based on changes in valuations, expected returns, evolving clarity on business fundamentals, material events impacting the company or its sector, regulatory developments, or broader macroeconomic and global factors.

Change of Opinions

Our opinions and views are subject to change without prior notice based on evolving market conditions, company developments, or other relevant factors.

Investor Risk Acknowledgement

Clients and investors should understand that equity investments carry inherent market risks, including the risk of partial or complete capital erosion.

Regulatory Compliance

We strictly comply with the SEBI (Research Analyst) Regulations, 2014.

Analyst Certification

PANKAJ KUMAR JAIN, Proprietor of Eye on Trade Research
SEBI Research Analyst Registration No.: INH000021386

I, Pankaj Kumar Jain, Proprietor of Eye on Trade Research, hereby certify that the views expressed in this research report reflect my personal and unbiased views.

Do not have any financial interest in the subject company(ies).
Do not own 1% or more of the equity securities of the subject company(ies).
Have no material conflict of interest at the time of publication.

Disciplinary History

There has been no instance of disciplinary action, penalty, suspension, or proceedings initiated or passed by any regulatory or administrative agency.

Terms & Conditions and Risk Disclosures

Important Information Regarding Research Reports and Recommendations

At “PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH”, we prioritize delivering dependable and precise research reports and recommendations to our registered clients.

Important Disclaimer

All research reports and recommendations provided by Pankaj Kumar Jain (Proprietor, Eye On Trade Research) are intended solely for informational and educational purposes.

Risk Disclaimer & Investor Caution Statement

Market Risk
No Guarantee by SEBI or Certification
Past ≠ Future
Risk Associated with Open Positions
No Loss Refund
Illustration Only
Educational Use Clause

Use of AI Tools in Research and Advisory Services

Research Methodology Disclosure

“Our recommendations are primarily based on a combination of technical and fundamental analysis.”

Supportive Role
No Autonomous Decision-Making
Data Sources
Transparency & Compliance
Limitations of AI
Investor Discretion

AI-Related Risks

System vulnerabilities that may amplify analytical or operational errors.
Handling of sensitive data that may pose privacy and security risks.
Potential for biased outputs, lack of transparency, and misleading results.
Severe data glitches may lead to significant losses impacting your portfolio or security.

Model Portfolio by Research Analyst

“PANKAJ KUMAR JAIN PROPRIETOR OF EYE ON TRADE RESEARCH” (SEBI Reg. No.: INH000021386) adheres strictly to the SEBI Research Analyst Regulations while constructing and recommending any Model Portfolio.

Important Notice to Investors

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