Standard disclosures:
- Trade Encore (Proprietor: Shaunak Mainkar) will use the term Research Analyst after its name along with the SEBI registration number.
- No disciplinary action has ever been taken against the research analyst in the past.
- Every research report issued by the research entity shall contain name of the entity, person responsible for creating the report, SEBI registration number, disciplinary history and any other information that is relevant for the clients to take investment decisions.
Ownership and material conflict:
- Trade Encore (Proprietor: Shaunak Mainkar) or its research analysts, or his/her relative or associate does not have any direct or indirect financial interest in the subject company.
- Trade Encore (Proprietor: Shaunak Mainkar) or its research analysts, or his/her relative or associate do not have any material conflict of interest at time of publication of the research report.
- Trade Encore (Proprietor: Shaunak Mainkar) or its research analysts, or his/her relative or associates do not have actual ownership of one % or more securities of the subject company.
Receipt of compensation:
- Trade Encore (Proprietor: Shaunak Mainkar) or any of its research associates have not received any compensation from the subject company in the past 12 months.
- Trade Encore (Proprietor: Shaunak Mainkar) or any of its research associates have not managed or co-managed public offering of securities in the past 12 months for the subject company.
- Trade Encore (Proprietor: Shaunak Mainkar) or any of its research associates have not received any compensation for investment banking or merchant banking or brokerage services from the subject company.
- Trade Encore (Proprietor: Shaunak Mainkar) or any of its research associates have not received any compensation or other benefits from the subject company or third party in connection with the research report.
Other disclosures:
- Trade Encore (Proprietor: Shaunak Mainkar) shall declare that any of its research analysts or associates have not served as an officer, director or employee of the subject company.
- Trade Encore (Proprietor: Shaunak Mainkar) or its research analyst has not been engaged in market making activity for the subject company.
- Trade Encore (Proprietor: Shaunak Mainkar) will ensure that the facts in the research reports are taken from a reliable source and information. Further, the terms used to provide research recommendation should be well defined in order to avoid any ambiguity. The terms defined shall be consistently used in the research report.
- A graph of daily closing prices of securities is available at www.nseindia.com
- Trade Encore (Proprietor: Shaunak Mainkar) or any of its research analyst do not circulate any third-party research reports.
- A research report issued by Trade Encore (Proprietor: Shaunak Mainkar) or any of its analysts/ associates will be duly signed and dated. It will be maintained either in physical or electronic form and shall be preserved for a period of 5 years.
- In case of use of any rating system in the research report, the benchmarks and the basis of the rating used shall be clearly disclosed in every report issued.