Disclaimer

Disclosure & Disclaimer 

This document lays out the Disclosures and Disclaimers that apply to the access and use of the Website “www.definedgesecurities.com” (and other aforesaid subdomain hereinafter referred to as “Website”), and the mobile applications named “Zone by Definedge” and “Opstra by Definedge” (collectively referred to as the “Apps”; Website, or platforms and Apps collectively referred to as the “Platform”) is owned, operated and maintained by Definedge Securities Broking Private Limited, a Company incorporated under the Companies Act 2013 with CIN U65990PN2021PTC198378, having its registered office at 2nd floor, Ambashish, Lane – 9, Pakharbag, Bavdhan, Pune, Maharashtra – 411021  

This document contains important Disclosures and Disclaimers pertaining to your trading and demat accounts with Definedge Securities Broking Private Limited (hereinafter referred to as “Definedge”, “Company”, “we”,“our” or “us”). Trading in the Cash, Derivatives and Currency Derivatives segments of the BSE and NSE is enabled through Definedge Securities Broking Private Limited, a trading member of the Bombay Stock Exchange (“BSE”) and National Stock Exchange (“NSE”) and Commodity trading member of Multi Commodity Exchange of India Limited (“MCX”, together “Exchanges”)  registered with the Securities & Exchange Board of India (“SEBI”) having Registration Number INZ000301132. The Depository services for your account are enabled through Definedge Securities Broking Private Limited, a Depository Participant with CDSL having SEBI Registration no: IN-DP-662-2021.  

The words, “You”, “Your”, “Client” and “User” refer to the person(s) who use and avail the services and products through the Platform Website / App and shall include both singular and plural. The term “Users” for the purposes of this Disclosure and Disclaimer shall be read as You. Any capitalized words not described herein shall have the meaning ascribed to it in the Privacy Policy and/or Terms and Conditions of the Platform.   

Access to, and usage of your account and the Platform is subject to your compliance with the Terms set forth herein, read with the Policies and Procedures, and any other documents as may be applicable. This includes but is not limited to the various application forms and undertakings signed by you at the time of opening your account(s).   

In terms with Information Technology Act, 2000, this document is an electronic record. Being generated by a computer system, it does not require any physical or digital signatures. Your acceptance to these terms as laid down under the Disclosure and Disclaimer shall be considered as Your consent to use the App, the Website, platform, the services and products (collectively referred to herein as “Services”) provided by the Platform in accordance with the terms and conditions laid down by Us.  

You agree to any and all changes to the Terms without specific communication from Definedge, by Your continuing usage of the Platform and/or continuing to hold an account with Definedge. 

 Please note that the information contained herein is subject to change without notice.

Disclosures

The Platform, including any content or information contained within it or any site linked to the Website/App, or any product or service licensed or purchased through it, is provided on an “as is” basis and without warranties of any kind, either express or implied, including, but not limited to warranties of title or non-infringement or warranties of merchantability and fitness for a particular purpose, other than those warranties which are implied by and incapable of exclusion, restriction or modification under the laws applicable.

Definedge or the Platform do not warrant that Your access to the Website/App and/or related Services will be uninterrupted or error-free, that defects will be corrected, or that the Website/App or the servers provided herein is free of viruses or other harmful components. Access to and use of the Platform and the information provided herein is at Your own risk and the Definedge or the Platform does not undertake any accountability for any irregularities, viruses or damage to any computer/mobile phone or any other electronic devices used to access the Services.   

We do not warrant or make any representations regarding the use of or any consequences resulting from the use of any product and/or Service purchased in terms of its compatibility, correctness, accuracy, and reliability or otherwise. You assume total responsibility and risk for Your use of the Platform and all related Services.  

Definedge does not make any personal recommendations. The information on our Platform is provided solely to enable investors to make their own investment decisions and does not constitute a recommendation to buy, sell or otherwise deal in investments. The services and the securities we offer may not be suitable for all customers. If you have any doubts, you should seek advice from an independent financial adviser.  

No market analysis, research report or any other information, on the Platform is to be construed as a representation with respect to shares, securities or other investments.  

This Platform is only available to residents in India and is presently not available to foreign residents including non resident Indians (NRIs) in foreign jurisdictions where the services cannot be offered without prior regulatory compliance. The Services provided on the Platform do not constitute an offer to sale or a solicitation to any person in any jurisdiction where it is unlawful to make such an offer or solicitation. 

 

Trading / Investment: Disclaimer  

Definedge and/or any of its affiliates do not provide any tips, advisory, solicitation, opinions or portfolio management services regarding buying, selling and trading of any securities, directly or indirectly, in any manner. Information displayed or laid out by Platform including but not limited to; Definedge Forum, Insight, Shelf, Gurukul and other trading tools on the Zone, RZone, Opstra, Tradepoint, MFZone, Momentify and Radar and all other platforms including social media, are purely for either educational, informational, or discussion purposes and should not be construed as direct or indirect recommendation to invest, trade or speculate in the markets.  

In no event shall Definedge be liable for any investments, trades or speculative activities performed by any person based on any such information or content and all such activities shall be solely at their own risk.  

You understand and agree that all investment and/or trading decisions are based on your own investment objectives and evaluation of prevailing financial circumstances. This extends to all decisions made by you based on any information that may be available on the Platform. You understand that Definedge is merely a facilitator providing access to its clients to participate in the financial and commodity markets, and that Definedge does not seek to influence or otherwise affect the decision-making process of its clients in any way whatsoever.  

You shall not hold nor seek to hold Definedge or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates liable for any trading losses or damages incurred as a consequence of relying upon any information, opinions, advice or any other material whatsoever on the Platform or in any Report, brochures, promotional material or any other literature promulgated by Definedge or any of its affiliates or partners.  

Definedge or any of its officers, directors, partners, employees, agents, subsidiaries, affiliates or business associates are not liable for damages caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in transmission or operations, computer virus, communications line failure, and unauthorized access to the personal accounts. Definedge is not responsible for any technical failure or malfunctioning of the software or delays of any kind.   

Users shall bear all responsibility for security and safe custody of passwords and Definedge shall not be responsible for the loss or misuse of passwords.  

You shall seek independent advice from professionals on the suitability of any investment decisions. You acknowledge that employees and representatives of Definedge are not authorised to give any such advice, and that you shall not solicit or rely upon any such advice from Definedge or any of its employees or representatives. Any advice of this nature inadvertently given by any employee or representative of Definedge shall strictly be construed as being in their personal capacity, and Definedge disclaims any liabilities arising thereto.  

Access to Platform, you do so on your own initiative and at your own risk, and you are responsible for complying with all local laws, rules and regulations. If the user does not agree to any of the terms mentioned above, the user shall forthwith exit the Platform. 

We or any of our affiliates, employees, agents or any Service Providers would never contact You and ask You for your personal details such as Your login information, password, Aadhaar OTP, bank account details and such other related information. Please do not provide any details to queries from calls where such information is asked by the caller who impersonates to be an affiliate of the Company or Platform. For reporting any such information or for further queries regarding this, please contact [email protected] 

 

No Partnership or Agency 

As per SEBI Circular having reference: SEBI/HO/MIRSD/DOP/P/CIR/2022/117 and dated September 2, 2022, Definedge does not partner or associate directly or indirectly with any person/entity/platform that provides or promises to provide algorithmic strategies and trading services, or any other services, which make any reference to the past or expected future returns/performances of the algorithm or promised algorithm/services. 

 

Research Report:  Disclaimer  

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

Definedge Securities Broking Private Limited  [Definedge] is engaged in diversified financial services business including equity, currency & commodity broking, DP services, distribution of Mutual Fund and other investment products. Definedge 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”) and Multi Commodity Exchange of India Limited (MCX)  for its stock broking activities and is Depository Participant registered with Central Depository Services Limited (CDSL), and is a member of Association of Mutual Funds of India (AMFI) for distribution of financial products. Definedge is a broking house catering to retail, HNI, trust etc. It operates through its branches and the clients are provided online trading through internet and dealing desk. 

  1. 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 endeavours have been made to present reliable data in the Report so far as it relates to current and historical information, but Definedge does not guarantee the accuracy or completeness of the data in the Report. 
  2. 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 Definedge 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. 
  3. 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. 
  4. 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.  
  5. 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 Definedge and its affiliates to any registration or licensing requirement within such jurisdiction. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. Persons in whose possession this Report may come are required to inform themselves of and to observe such restrictions. 
  6. As Definedge 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, Definedge encourages independence in preparation of research report and strives to minimize the conflict in preparation of research report. Definedge 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, accordingly Definedge and its associates do not have any material conflict of interest at the time of publication of this Report.  
  7. Definedge and its associates collectively may own (in their proprietary position) 1% or more of the equity securities of the subject company mentioned in the report as of the last day of the month immediately preceding the date of publication of the research report 
  8. The Research Analyst engaged in preparation of this Report or his/her relatives: – (a) does not have any financial interests in the subject company (ies) mentioned in this report; (b) does not collectively own 1% or more of the equity securities of the subject company mentioned in the report as of the last day of the month immediately preceding the date of publication of the research report; (c) does not have any other material conflict of interest at the time of publication of the research report. 
  9. The Research Analyst engaged in preparation of this Report: –  

    a. has not received any compensation from the subject company in the past twelve months;

    b. has not managed or co-managed public offering of securities for the subject company in the past twelve months;

    c. has not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months;

    d. has 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;

    e. has not received any compensation or other benefits from the subject company or third party in connection with the research report;

    f. has not served as an officer, director or employee of the subject company in the past twelve months;

    g. is not engaged in market making activity for the subject company;

    h. Research Analyst engaged in preparation of this Report may have used artificial intelligence tools

    i. during the information gathering stage for compiling or collating data from (a) publicly available sources, (b) databases to which Definedge subscribes, and (c) internally generated research data; and / or (ii) for compiling summaries of this report

This report is for the personal information of the authorized recipient and is not for public distribution. This should not be reproduced or redistributed to any other person or in any form. This report is for the general information of the investors and should not be construed as an offer or solicitation of an offer to buy/sell any securities or other financial instruments. Nothing in this report constitutes investment, legal, accounting and tax advice or a representation that any investment or strategy is suitable or appropriate to your specific circumstances. The securities discussed and opinions expressed in this report may not be suitable for all investors, who must make their own investment decisions, based on their own investment objectives, financial positions and needs of specific recipient. No representation or warranty, express or implied, is made as to the accuracy, completeness or fairness of the information and opinions contained in the document. The opinions expressed in the report are our current opinions as of the date appearing in the material and may be subject to change from time to time without notice. The Company reserves the right to make modifications and alternations to this statement as may be required from time to time without any prior approval.  

Definedge or any persons connected with it do not accept any liability arising from the use of this document. Neither Definedge, not its directors, employees, agents or representatives shall be liable for any damages whether direct or indirect, incidental, special or consequential including but not limited to loss of capital, revenue or profits that may arise from any inadvertent error in the information contained, views and opinions expressed in this publication. 

Definedge and/or its affiliate companies may deal in the securities mentioned herein as a broker. The recipient should take this into account before interpreting the document. Our salespeople, traders, and other professionals may provide oral or written market commentary or trading strategies to our clients that reflect opinions that are contrary to the opinions expressed herein, and our proprietary trading and investing businesses may make investment decisions that are inconsistent with the recommendations expressed herein. 

We submit that no material disciplinary action has been taken on Definedge by any regulatory authority impacting Equity Research Analysis. 

We hereby declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered in last three years. However SEBI, Exchanges, Clearing Corporations and Depositories etc have conducted the routine inspection and based on their observations may have issued advise/warning/show cause notices/deficiency letters/ or levied penalty or imposed charges for certain deviations observed in inspections or in normal course of business, as a Stock Broker / Depository Participant. We have not been debarred from doing business by any Stock Exchange / SEBI or any other authorities; nor has our certificate of registration been cancelled by SEBI at any point of time. There have been no adverse material findings towards our research activities. 

Our research should not be considered as an advertisement or advice, professional or otherwise. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and the like and take professional advice before investing. Derivatives are a sophisticated investment device. The investor is requested to take into consideration all the risk factors before trading in derivative contracts 

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