Equity Midas

Responsibility First


We Take Our Advice
To ensure that we always deal the best recommendations, we invest our own funds in our recommendations. Almost all our equity market investments are driven by EVM.
Its our responsibility first, then our business.
Quantitative Models


Proprietary Algorithm
Our recommendations are derived through quantitative analysis of company performance and the market response. Tested over 15 years of data, EVM is the most consistent performer amongst all the algorithms we tested.
What You See Is What You Get


Uniform Opportunity For All Subscribers
Our subscription window closes a day prior to releasing our recommendations for that period. This ensures each subscriber has the same window of opportunity to invest in EVM recommendations.
Strong Foundation
Strong Foundations


Value Investing Principles
Our Investing Philosophy is driven by Value Investing Principles. Value Investing is one of the most consistent investment strategy across multiple markets, time periods and market cycles.
Rules Based
Rules Based Investing


Structured, Disciplined Approach
Any investment strategy will fail if not implemented correctly. Emotions get the better of most investors as many try to time the market. We believe in being invested all the time with planned entry and exit schedules.
Back Tested
Real-Life Back Testing


Excellent CAGR in Back Tests
We call our back testing, "Real Life Back Testing". We ensure that only data available as on the test day is used to simulate real life situation. An equal-weighted portfolio of EVM recommendations has beaten respective benchmark returns consistently.
Business Quality
Quality Businesses


No Compromise on Business Quality
Even when EVM does not recommend in holding our stocks for ever, there is no compromise on the quality of the business. A strong balance sheet with consistent operating performance are basic stock selection criteria of EVM.
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Who We Are

We are SEBI Registered Research Analysts (Registration Number INH000008136) offering fee-only equity recommendation service. Quantitative models form the foundation of our research. Our proprietary quantitative model, “Expectations Value Model” uses the combinations of company’s financial strenght, market expectations and its ability to meet these expectations to determine our stock recommendations.

EquityMidas is the brain child of Ashish Arole, a veteran of IT industry with extensive experience in finance, banking, accounting domains and data analysis technologies. Combining these two strengths with his entrepreneurial passion, Ashish worked  full-time for over 6 years, developing various quantitative models and testing them extensively before launching this advisory service. Through EquityMidas we intend to offer the best quantitative model based recommendations to ensure you derive the expected returns on your equity investment.

We DO NOT offer personalized financial planning or advisory service nor do we engage in distribution of any financial products. Building quantitative models is our passion and subscription to our recommendations is our only business. 

What We Offer

We offer quant derived recommendations with a structured method to investing. We publish our recommendations at a pre-determined schedule and even our exit recommendations are based on pre-defined rules.  We do not believe in instincts or gut feelings, neither do we believe that we can predict the future. We trust what the data says and hence follow this disciplined nature of investment approach. Emotions have no role in our investing. 

Subscription for Focus and Feast is open from Feb to May every year. Strength Of Nifty50 is open to subscription through out the year on Smallcase.

Here is a quick summary of the three products currently offered for subscription. While Focus and Feast are offered for subscription on this portal, Strength Of Nifty50 is available for subscription on equitymidas.smallcase.com

10,000 INR per year


Focused recommendations comprising only large, stable companies for steady returns based on EVM.

Only stocks with market capitalization greater than 10,000 Crore are considered for selection, which by SEBI definition are Large & Mid Cap stocks.

15,000 INR per year


Diversified recommendations aiming for better returns with the inclusion of smaller companies, based on EVM.

Focus is a subset of Feast. Small cap stocks increase the volatility which is expected to be compensated with higher returns.

Price available on Smallcase


Strength of Nifty50 (SON50) recommendations are published quarterly which include stocks from the Nifty50 Index constituents only.

SoN50 is created as an alternative to NIFTY50 ETF or Index Funds and uses a tailored version of EVM to derive its recommendations.

Appreciated by seasoned investors

A Strong Combination

Numerical investing approach get my immediate attention; as engineers we believe in numbers. What we can measure correctly, we can compare, we can analyse and we can use in decision making. Combining quantitative methods with the time tested value investing principles, hence, seems to be an excellent strategy.

Jayesh Rathore
Director, Akshara International

Testing Effort

What excites me about EVM is the extensive back testing that has been carried out by Ashish. While back tests cannot predict future performance, they do give the confidence to try out the model.

Sethunath Ramaswamy
Chief Business Officer, Greenjoules Pvt. Ltd.

Stocks Appraisal

What an idea!! Who would have thought that classical HR concept of appraisals can be applied to stocks and markets. The more I think about it, the more correlation I see. Eventually, it is the market participants who decide the stock price. How can any investor ignore their expectations?

Reetesh Hegde
Senior IT Professional

Keep the Emotions Out

As a stock market investor for over 20 years, I know for sure that emotions play havoc in generating returns. Models are hence useful to keep emotions out and bring discipline to investing. EVM or other quant strategies have this inherent benefit. Also, the yearly rebalancing is quite similar to Magic Formula investing and works

Bharat Shah
Derivatives trader, Financial analyst

No Personal Biases

Being a professional, I have evolved to trust the process more than the person. Personal biases matter a lot, almost always negatively. Having a structured approach to stock selection and more importantly the idea of always holding the best placed stocks for that year seems very logical. The investments are also not swayed by the

Swaminathan Iyer
Director, Dell Technologies

Crash Resistant!!

My view is a bit biased, since I have been a part of the EVM journey with Ashish. His initial effort was focussed around the Intrinsic Value calculations which he tested extensively without much success. Once he changed his focus to “what kind of companies have generated good returns historically”, EVM took shape. The model

Senior IT Professional

Brightest and Competent Team Member

Ashish Arole is my ex-colleague from Cognizant who moved in to finance / investment field 6 years ago. He developed an investment model, back tested it on past several years of data, got his SEBI registration and has now started offering his services commercially as a Research Analyst. This year, for the first time, I

Dhananjay Kulkarni
Entrepreneur, IT Veteran with 30+ years of experience, Avid Investor since 2003

Research Analyst Role


We are SEBI registered Research Analyst and not Investment Advisors. This means our expertise lies in researching and analysing stocks and giving our views/recommendations on those stocks. In our case, we publish them as recommendations.

An Investment Adviser on the other hand, works with you to plan your overall finances after understanding your financial goals. The advice offered by an Investment Adviser is personalised as against our recommendations which do not change based on individual financial situation/goals. Simply put, our recommendations are not personalised advice; it is the output of our research.

Unlike a PMS or a Mutual Fund, we are not involved in the actual trading of stocks. The actual buying and selling of the portfolio stocks is done by the subscriber himself/herself using their own trading and demat accounts.

Our service to subscribers is limited to giving access to the recommendations.

Strong Testimonials form submission spinner.

Privacy Policy

This Privacy Policy describes how your personal information is collected, used, and shared when you visit or make a purchase from www.EquityMidas.com (the “Site” or “our website”).

This website viz. www.EquityMidas.com domain name are owned and controlled by Equity Midas Capital. Ashish Arole the proprietor of Equity Midas Capital and is a SEBI registered Research Analyst (Registration Number INH000008136) registered under SEBI (Research Analysts) Regulations, 2014.

Equity Midas Capital uses your data to provide and improve the service/products. By using the service/products, you agree to the collection and use of information in accordance with this policy. Unless otherwise defined in this Privacy Policy, terms used in this Privacy Policy have the same meanings as in our Terms and Conditions.

In A Nutshell

The user represents that he is aware that in the process of subscribing to the service or parts of it, www.equitymidas.com may obtain information relating to the user, including that of a confidential nature. This information will be used by www.equitymidas.com for its internal purposes and will be kept confidential. Notwithstanding anything contained above, Equity Midas Capital reserves the right to disclose personal information where it believes in good faith that such disclosure is required by law, to perform necessary credit checks or collect or report debts owed to www.equitymidas.com, to protect www.equitymidas.com’s rights or property or for other bonafide uses. The user agrees and warrants that all information that www.equitymidas.com may possess or may obtain pursuant to the use of service has been possessed or obtained with the permission of the user.

Personal Information We Collect

When you visit the Site, we automatically collect certain information about your device, including information about your web browser, IP address, time zone, and some of the cookies that are installed on your device. Additionally, as you browse the Site, we may collect information about the individual web pages or products/services that you view, what websites or search terms referred you to the Site, and information about how you interact with the Site. We refer to this automatically-collected information as “Device Information.” We may collect Device Information using the following technologies: – “Cookies” are data files that are placed on your device or computer and often include an anonymous unique identifier. For more information about cookies, and how to disable cookies, visit http://www.allaboutcookies.org. – “Log files” track actions occurring on the Site, and collect data including your IP address, browser type, Internet service provider, referring/exit pages, and date/time stamps. – “Web beacons,” “tags,” and “pixels” are electronic files used to record information about how you browse the Site. Additionally when you make a purchase or attempt to make a purchase through the Site, we or our payment partner may collect certain information from you, including your name, billing address, shipping address, payment information (including credit card and/or debit card numbers) email address, and phone number. We refer to this information as “Order Information.” Apart from these, we may also collect personal/demographic information about you such as age, occupation, date of birth, income level, and place of residence. We refer to this information as “Demographic information”. When we talk about “Personal Information” in this Privacy Policy, we are talking both about Device Information, Demographic information, and Order Information.

How Do We Use Your Personal Information?

As a general rule, we will not make the personal information gathered using our products and services available to anyone outside of the EquityMidas group of companies — except as instructed by you or where required or permitted by law. Please note, however, that there are several exceptions to this policy. First, if we use third party service providers, these service providers may have access to your personal information to perform contractually specified services on our behalf. Secondly, if you indicate that you are interested in receiving information about a particular third party’s products/services, or you opt to receive certain products or services through us, we may provide your personal information to that third party for purposes of fulfilling your request(s). Additionally, we take reasonable steps to ensure that third parties receiving information about you at your request maintain the confidentiality of that information. We collect, store, and process your personal information so we can administer your subscription to our products and services. We may also use your personal information to send you information about other products and services offered by us.

Links To Other Web Sites

We may provide links to one or more other third party web-sites. We encourage you to read their individual privacy policies before providing any of your personal information to them.

Protection Of Your Personal Information

We put reasonable security measures in place to protect against unauthorized access to, or unauthorized alteration, disclosure or destruction of personal information. These measures include internal reviews of our data collection, storage and processing practices and security measures, as well as physical security measures to guard against unauthorized access to systems where we store personal data. Our security and privacy policies are periodically reviewed and enhanced as necessary and only authorized individuals have access to the information provided.

Use Of Cookies

A cookie is a small file which can be downloaded on a device when you access our website and is then sent back to our website each time you access our website. Cookies are useful because they allow us to recognize your device and your user preferences. We may use cookies to set users’ preferences, gather basic tracking information (such as login and password), date, time of visit and preferences, and monitor the presentation of our site. This information allows us to personalize the user experience and to improve the quality of our site navigation. We may also use analytical cookies, which allow us to recognize and count the number of users on our website and to see how users move around the site when they are using it. This helps us improve the way the website works, for example by making sure users find easily what they need.

Accuracy Of Your Personal Information

You are responsible for checking to ensure that any personal information is updated and correct.

What About Children’s Privacy?

EquityMidas.com does not separately identify, or collect, any information that is specific to children.

Your Consent

By using our website, you consent to the collection and use of any personal information and any related information in the manner described in this Privacy Policy.

Changes To Privacy Policy

We reserve the right to change this policy at any time by distributing and/or posting a new privacy policy without notice. We encourage you to review our privacy policy on a regular basis so that you will be aware of any changes to it. Finally, we may also share your Personal Information to comply with applicable laws and regulations, to respond to a subpoena, search warrant or other lawful request for information we receive, or to otherwise protect our rights.

Your Rights

If you are a European resident, you have the right to access personal information we hold about you and to ask that your personal information be corrected, updated, or deleted. If you would like to exercise this right, please contact us through the contact information below. Additionally, if you are a European resident we note that we are processing your information in order to fulfill contracts we might have with you (for example if you make an order through the Site), or otherwise to pursue our legitimate business interests listed above. Additionally, please note that your information will be transferred outside of Europe, including to Canada and the United States.

Data Retention

When you place an order through the Site, we will maintain your Order Information for our records unless and until you ask us to delete this information.

Contact Us

For more information about our privacy practices, if you have questions, or if you would like to make a complaint, please contact us by e-mail at admin@equitymidas.com.

Disclosures & Disclaimers

Business Activity

Equity Midas Capital thru EquityMidas.com is engaged in the business of providing subscription services to their stock recommendations. Ashish Arole (proprietor & founder of Equity Midas Capital) is registered as a Research Analyst under SEBI (Research Analyst) Regulations, 2014 (Registration Number INH000008136). These recommendations are derived using quantitative models which are proprietary and cannot be disclosed.

Disciplinary History

There has been no instance of any Disciplinary action, penalty etc. levied/passed by any regulation/administrative agencies against Equity Midas Capital and Ashish Arole. SEBI has not issued any Administrative warning to Equity Midas Capital and Ashish Arole.

Terms & Conditions of issuance of Recommendations

Our recommendations are issued to the registered clients with active subscription. The underlying research is based on the facts, figures and information that are considered true, correct and reliable. The information is obtained from publicly available media or other sources believed to be reliable. The recommendations are prepared solely for informational purpose and does not constitute an offer document or solicitation to buy or sell or subscribe for securities or other financial instruments for clients.

Conflict, Ownership, Compensation & Other Disclosures

EquityMidas.com, its other group companies, its directors, associates, and employees may have various positions in any of the stocks, securities and financial instruments dealt in the call(s) & report(s), or may make purchase or sell or other deals in these securities from time to time or may deal in other securities of the companies / organizations described in the call(s) & report(s). EquityMidas.com and/or its associates, their directors and employees may; (a) from time to time, have a long or short position in, and buy or sell the securities of the company(ies) mentioned in the call(s) & report(s) or (b) considering the nature of business/activities that EquityMidas.com is engaged in, it may have potential conflict of interest at the time of publication of call(s) & report(s) on the subject company(ies).

Disclosures with regard to receipt of compensation

EquityMidas.com or its associates have received any compensation from the subject company in the past twelve months. No EquityMidas.com or its associates have managed or co-managed public offering of securities for the subject in the past twelve months. No EquityMidas.com or its associates have received any compensation or other benefits from the subject company or third party in connection with the research report. No

Other Disclosures

The research analyst has served as an officer, director, employee of the subject company. No EquityMidas.com or its research analyst has been engaged in market making activity for the subject company. No

Not an Investment Advice

This is solely for information of clients of Equity Midas Capital and does not construe to be an investment advice. It is also not intended as an offer or solicitation for the purchase and sale of any financial instruments. Any action taken by you on the basis of the information contained herein is your responsibility alone. EquityMidas.com its associate companies, and will not be liable in any manner for the consequences of such action taken by you. We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation.

No Guarantees

We do not assure or guarantee the user any minimum or fixed returns. Equity Midas Capital its associate companies, and employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this recommendation or any action taken on basis of this information.

Analyst Compensation

Besides this, the research analyst(s) are bound by stringent internal regulations and legal and statutory requirements of the Securities and Exchange Board of India ( SEBI) and the analysts' compensation was, is, or will be not directly or indirectly related with the other companies and/or entities of Equity Midas Capital and have no bearing whatsoever on any recommendation, that they have given in the research report.

No Liabilities

Equity Midas Capital or any of its affiliates/group companies shall not be in any liabilities for any such loss or damage that may arise to any person from any inadvertent error in the information contained in this report.

No Independent Verification of all Information

Equity Midas Capital has not independently verified all the information, which has been obtained by the company for analysis purpose, from publicly available media or other sources believed to be reliable.

No warranty or implied accuracy

Accordingly, we neither testify nor make any representation or warranty, express or implied, of the accuracy, contents or data contained within this document.

Changes due to Market Volatility

We hereby declare, that the information herein may change any time due to the volatile market conditions, therefore, it is advised to use own discretion and judgment while entering into any transactions, whatsoever.

No Trading Windows

Individuals employed as research analyst by Equity Midas Capital or their associates are not allowed to deal or trade in securities, within thirty days before and five days after the publication of a research report as prescribed under SEBI Research Analyst Regulations.

Our Interest in Recommendations

Subject to the restrictions mentioned in above paragraph, we and our affiliates, officers, directors, employees and their relative may: (a) from time to time, have long or short positions acting as a principal in, and buy or sell the securities or derivatives thereof, of Company mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or profits.

Technology Risks

There are risks associated with utilizing internet and short messaging system (sms) based information and research dissemination services. Research data, Calls and reports published/ emailed/ text messaged via Short Messaging Services, Online Messengers, WhatsApp, Telegram etc./transmitted through mobile application/s, and or those made available/uploaded on social networking sites (e.g. Facebook, Twitter, LinkedIn etc.) by Equity Midas Capital are for informational purposes only. Though disseminated to clients simultaneously, not all clients may receive the reports at the same time. Equity Midas Capital will not treat recipients as clients by virtue of their receiving this report.

Intellectual Property Rights

All intellectual property rights emerging from this website, blog, and investment solutions are and shall remain with Equity Midas Capital. All material made available is meant for the subscriber’s personal use and such subscriber shall not resell, copy, or redistribute the newsletter or any part of it, or use it for any commercial purpose.

No Compensation from Companies

Equity Midas Capital or any of its officers, directors, employees, or subsidiaries has not received any compensation/ benefits whether monetary or in kind, from the company, government, bank or any other product manufacturer or third party, whose products are the subject of its research or investment information.

Terms & Conditions

Thank you for using www.EquityMidas.com. Please read these Terms & Conditions of Use carefully, which is a legal contract between you (“User”) and Equity Midas Capital. This website viz. www.EquityMidas.com domain name are owned and controlled by Equity Midas Capital. Ashish Arole the proprietor of Equity Midas Capital and is a SEBI registered Research Analyst (Registration Number INH000008136) registered under SEBI (Research Analysts) Regulations, 2014.

By accessing or using the Website and/or any related mobile or software applications (collectively the “Sites/ Website/ EquityMidas”), accessing or using the content, information, services, features or resources available or enable through the Sites including but not limited to delivery of information through the Sites whether existing now or in the future that link to these Terms of Use (collectively with the Sites, the “Service”), however accessed or used, the User:

  1. Agrees to be bound by these terms of use (“Terms & Conditions”)
  2. Represents that the User is of a legal age in User’s jurisdiction of residence to form a binding contract.

These Terms & Conditions affect the User’s legal rights and obligations. Except as otherwise provided herein, if the User does not agree to be bound by these Terms & Conditions, the User may not access or use the Service. Please note that these Terms & Conditions are subject to amendment(s) by Equity Midas Capital at their sole discretion at any time without any prior intimation of the same to the User (“Updated Terms”).


By accessing the website, you are agreeing to be bound by these terms of service (including the fee structure), all applicable laws and regulations, and agree that you are responsible for compliance with any applicable local laws. If you do not agree with any of these terms, you are prohibited from using or accessing this site. The materials contained in this website are protected by applicable copyright and trademark law.

Breach of these Terms & Conditions

Without prejudice to Equity Midas Capital’s other rights under these terms and conditions, if you breach these terms and conditions in any way, Equity Midas Capital may take such action as Equity Midas Capital deems appropriate to deal with the breach, including suspending your access to the website, prohibiting you from accessing the website, blocking computers using your IP address from accessing the website, contacting your internet service provider to request that they block your access to the website and/or bringing court proceedings against you.

Scope of Services

Equity Midas Capital is in the business of providing research analyst services. We offer this service through access to our recommendations (products) consisting of listed equities only. Fee is charged to access individual products and charged on a per year basis.

  1. Provide personalized advice.
  2. Provide any distribution services (for any financial products).
  3. Help to define family goals & objectives.
  4. Assess risk profile.
  5. Develop Investment Policy Statement.
  6. Develop investment recommendations based on goals & risk profile and assist in implementing these recommendations.
  7. Provide advice with respect to the investment in insurance, commodities and other financial assets.
  8. Provide advice and recommendations in any other areas of financial planning in which Advisor or Client identifies a need.

We maintain an arms-length relationship between its activities as research analyst and other activities and shall ensure that this arm’s length relationship would be maintained throughout the tenure of advisory service.

Conflict of Interest

Any conflict of interest shall be disclosed to the client as and when they arise. We adhere to SEBI regulations with respect to trading in securities covered by our recommendations. We will not deal or trade in securities that we recommend within thirty days before and five days after the publication of a research report/recommendation.
We do not derive any direct or indirect benefit out of the client’s securities/investment products.

Use of Information and Material on this Website

Permission is granted to temporarily access information on the website for personal, non-commercial transitory use only. This is the grant of a license, not a transfer of title, and under this license you may not:

  1. Attempt to decompile or reverse engineer any software contained on the website;
  2. Remove any copyright or other proprietary notations from the materials; or
  3. Share the material with another person or “mirror” the materials on any other server.
  4. Republish material from this website (including republication on another website)
  5. Sell, rent or sub-license material from the website
  6. Show any material from the website in public
  7. Reproduce, duplicate, copy or otherwise exploit material on this website for a commercial purpose
  8. Edit or otherwise modify any material on the website; or
  9. Redistribute material from this website except for content specifically and expressly made available for redistribution.

This license shall automatically terminate if you violate any of these restrictions and may be terminated by us at any time. Upon terminating your viewing of these materials or upon the termination of this license, you must destroy any downloaded materials in your possession whether in electronic or printed format.

Equity Midas Capital reserves the right to deny, in its sole discretion, any user access to this web site or any portion thereof without notice or justification. Further Equity Midas Capital reserves the right at any time to charge fees for access to any service provided by it.

Equity Midas Capital may offer some of its services free of charge to the user subject to such terms and conditions including the period for which it is offered free of charge, as may be decided by us. It shall put up a notice to this effect with necessary details at the relevant point of time.

Acceptable Usage

You must not use this website in any way that causes, or may cause, damage to the website or impairment of the availability or accessibility of the website; or in any way which is unlawful, illegal, fraudulent or harmful, or in connection with any unlawful, illegal, fraudulent or harmful purpose or activity.

You must not use this website to copy, store, host, transmit, send, use, publish or distribute any material which consists of (or is linked to) any spyware, computer virus, Trojan horse, worm, keystroke logger, root kit or other malicious computer software. You must not conduct any systematic or automated data collection activities (including without limitation scraping, data mining, data extraction and data harvesting) on or in relation to this website without Equity Midas Capital’s express written consent.

You must not use this website to transmit or send unsolicited commercial communications. You must not use this website for any purposes related to marketing without Equity Midas Capital’s express written consent.


The User of this Website declares and agrees that the User is a natural / legal person who has attained the age of Majority (18 years age and 21 years in case a guardian is appointed).

Persons who cannot enter into legally binding contract in accordance with the provisions of the Indian Contract Act, 1872, including person of unsound mind and un-discharged insolvents etc. are not entitled to use the Website.

If the User violates any of these Terms, or otherwise violate an agreement entered into through the medium of the Website, we may, delete User’s profile and any content or information posted by the User on the Website and/or prohibit the User from using or accessing the Website at any time in its sole discretion, with or without notice, including without limitation if it believes that you have not attained the age of Majority.

Our Intellectual Property

The content and information contained within our Website or delivered to you in connection with the use of our Website is the property of Equity Midas Capital and any other third party (where applicable). 

The trademark, trade names and logos (the “Trade Marks”) that are used and displayed on our website include our registered and unregistered Trade Marks and of third parties. Nothing contained on our Website should be construed as granting any license or right to use any Trade Marks displayed on our Website. 

We retain all proprietary rights on our Website. Users are prohibited from using the same without the written permission of Equity Midas Capital or such other third parties. 

The materials on this Website are protected by copyright and no part of such materials may be modified, reproduced, stored in a retrieval system, transmitted (in any form or by any means), copied, distributed, used for creating derivative works or used in any other way for commercial or public purposes without the prior written consent of Equity Midas Capital.


You further acknowledge that the Website may contain information which is designated confidential by us and that you shall not disclose such information without our prior written consent.

Your information is regarded as confidential and, therefore, will not be divulged to any third party except as set forth in this and any other term of use applicable to our website.

You will not, directly or indirectly, disclose information regarding the Services to any third party in any media or in any manner, and will hold all such information in confidence, subject to any disclosure required by law, court order, or by any government or regulatory authority. 

You shall not make any public announcement, press release, or communication concerning this Terms of Use without the prior express written consent of Equity Midas Capital.

Subscription & Control of Your Access

If you wish to receive access to the restricted editorial content of the website you will need to sign-in and subscribe (as a subscriber) with us and the following provisions of this clause will apply.
You agree to:

A) Provide true, accurate, correct and complete information which you are required to provide when you register or subscribe as a user of the website, whether in respect of the subscription services or the free services (“personal information”); and
B) Notify us immediately of any changes to the personal information.
C) Receive calls, text or emails regarding our products or services and various promotional offers for solicitation.
D) You agree not to: impersonate any other person or entity or to use a false name or a name that you are not authorized to use, or disclose your password or user name to any other person, or allow your password or user name to be used by any other person to access the services.

If you choose to share this information with third parties to provide you additional services, you are responsible for all actions taken with your login information and password and, therefore, should review each third party’s privacy policy. You are responsible for all actions taken with your login information and password, including fees. 

If you lose control of your password, you may lose substantial control over your personally identifiable information and may be subject to legally binding actions taken on your behalf. Therefore, if your password has been compromised for any reason, you should immediately change your password. You agree to notify us immediately if you suspect any consistent unauthorized use of your account or access to your password even after changing it.

Charges, Refund & Cancellation Policy

Subscription charges are subject to change without notice. The price in effect when we receive your order will be the price that is charged for subscription. We do not accept payment in cash. There is no trial offer for our services.

We offer 100% refund on all subscriptions cancelled up to 1 day prior to the release of May tranche of recommendations for Focus and Feast. Once the recommendations have been released, no cancellation or refunds will be accepted.

For our refund/cancellation policy on Strength Of Nifty, please refer to Smallcase.

By making a payment, the user acknowledges, represents and warrants that the user has read and understood our Terms of Use and Privacy policy available on the website. If you would like to evaluate the quality of our services, please check the stocks recommended to our subscribed members and the performance shown on the website before subscribing.

Further, we reserve the right to issue refunds or credits at our sole discretion. If we issue a refund or credit, we are under no obligation to issue the same or similar refund in the future.

Subscription charges, offers, and promotions are subject to change. 

Risk Factors

Investments in securities are subject to market risks and there is no assurance or guarantee that the objective of the investments will be achieved. Past performance of the investment adviser does not indicate its future performance.

The performance of the investments/products may be affected by changes in Government policies, general levels of interest rates and risks associated with trading volumes, liquidity and settlement systems in equity and debt markets.

Investments in the products which the Clients have opted are subject to wide range of risks which inter alia also include but not limited to economic slowdown, volatility & illiquidity of the stocks, poor corporate performance, economic policies, changes of Government and its policies, acts of God, acts of war, civil disturbance, sovereign action and /or such other acts/ circumstance beyond the control of research analyst or any of its associates.

The names of the products/nature of investments do not in any manner indicate their prospects or returns. The performance in the equity may be adversely affected by the performance of individual companies, changes in the market place and industry specific and macro-economic factors.

Links to other Websites

EquityMidas.com might contain links to other websites. Equity Midas Capital is not responsible for the content, accuracy or opinions express in such websites, and such websites are not investigated, monitored or checked for accuracy or completeness by us. 

Inclusion of any linked website on Equity Midas Capital does not imply approval or endorsement of the linked website by us. If you decide to leave EquityMidas.com and access these third-party websites, you do so at your own risk.


Your right to use EquityMidas.com is not transferable. Any password or right given to you to obtain information, content, document or messages (via email or SMS on mobile) is not transferable. 

Any violation in the same will be considered as a breach of these Terms of Use and liable to immediate account termination without any refund of the active subscription.


By using this website, it is deemed that you have consented to receiving emails, calls, autodialed and/or pre-recorded message calls, text messages (SMS, WhatsApp, Telegram, Signal or any other similar apps), from us or our vendors, at any time, on the telephone number / contact information that has been provided by you even if the contact number you have entered is on DND (Do not Disturb), for the use of this Website or our services. 

We may send inquiry confirmation/ intimation, subscription confirmation, cancellation, payment confirmation, schedule change or any such other information relevant for the transaction on the contact number given by the User at the time of registration / reservation. We may also contact you to clarify your inquiry, seek additional details pertaining to it, etc.

Our text messages (SMS, WhatsApp, Telegram, Signal or any other similar apps), alerts will be subject to guidelines of Telecom Regulatory Authority of India (TRAI) and Department of Telecom (DoT) as well as to the terms and conditions of third-party merchants, services of whom Equity Midas Capital might avail of. By signing up for alerts, you agree to allow us to send you alerts, even if your number is registered in the Do Not Disturb (DND) registry. 

We do not commit, guarantee, assure or promise any returns based on our recommendations. You act solely based on your individual risk-bearing ability and your perception of the equities market.

You hereby unconditionally consent that such communications via text messages (SMS, WhatsApp, Telegram, Signal or any other similar apps) and/ or voice call is (a) upon your request and authorization, (b) ‘transactional’ and not an ‘unsolicited commercial communication’ as per the guidelines of Telecom Regulation Authority of India (TRAI) and (c) in compliance with the relevant guidelines of TRAI or such other authority in India and abroad. We may provide all recommendations via website, text messages (SMS, WhatsApp, Telegram, Signal or any other similar apps), Email & other app notification. 

The deliveries of the text messages (SMS, WhatsApp, Telegram, Signal or any other similar apps) on national and international numbers are solely dependent on the vendor’s infrastructure and the network of the receiver. We will not be responsible on delayed in delivery or non-delivery of the alerts/messages.

You hereby agree and undertake to indemnify us against all types of losses and damages incurred by us due to any action taken by TRAI, Access Providers (as per TRAI regulations) or any other authority due to any erroneous compliant raised by you against us with respect to the intimations mentioned above or due to a wrong number or email id being provided by you for any reason whatsoever.

No Warranty


You assume total responsibility and risk for your use of the Service and the Software. Equity Midas Capital does not guarantee that the Service or the Software will be uninterrupted or error free; it is provided on an “as available” basis. Equity Midas Capital and its affiliates do not warrant the accuracy, completeness or timeliness of the news and information available through the Service. You acknowledge that any reliance upon any such news, statements or other information shall be at your sole risk.

Equity Midas Capital does not guarantee the accuracy of the information available through the Service and you agree not to rely on any information or other content available through the Service without making your own independent investigation and exercising you own business judgments. Neither Equity Midas Capital nor any of its data or content providers shall be liable for any errors or delays in the information or other content available through the Service, or for any action taken in reliance thereon.
No offer on our part with respect to the sale or purchase of any securities is intended or implied, and nothing contained herein is to be construed as a recommendation to buy or sell any securities.

NRI Users must ensure that stocks recommended by us are not in RBI ban list before investing or executing the order with their trading member.


You agree to indemnify, save, and hold Equity Midas Capital, its affiliates, contractors, employees, officers, directors, agents and its third party associates, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to your use or misuse of the services or of the Website, any violation by you of these Terms of Use, or any breach of the representations, warranties, and covenants made by you herein.

Equity Midas Capital reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Equity Midas Capital, including rights to settle, and you agree to cooperate with Equity Midas Capital defense and settlement of these claims. Equity Midas Capital will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.

Limitation of Liability

Notwithstanding anything to the contrary contained herein, neither Equity Midas Capital nor its affiliated companies, subsidiaries, officers, directors, employees or any related party shall not have any liability to you or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these Terms of Use. 

To the maximum extent permitted by law, you waive, release, discharge and hold harmless, Equity Midas Capital and its affiliated and subsidiary companies, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of your use of the Website.

Availability and updating of the Site

Equity Midas Capital may suspend the operation of the Site for repair or maintenance work or in order to update or upgrade its content or functionality from time to time. Equity Midas Capital does not warrant that access to or use of the Site or of any sites or pages linked to it will be uninterrupted or error free.

Equity Midas Capital may change the format and content of the Site at its sole discretion from time to time. You should refresh your browser each time you visit the Site to ensure that you access the most up to date version of the Site.

Equity Midas Capital reserves the right to add, alter, modify, withdraw, replace, wholly or in part, any of the contents and/or columns and/or sections by any other contents and/or columns and/or sections, whether similar or not, or withdraw it altogether without any prior notice. In case of dispute with any party, our decision will be binding and final.


In the event any provision of this Terms of Use is found invalid or unenforceable pursuant to judicial decree or decision, the remainder of this Terms of Use shall remain valid and enforceable according to its terms.

Special Rights conferred to European Citizens/ Data Subjects

The Privacy policy shall supersede over the contrary terms specified in this Terms of use.

Suggestions, Complaints, And Disputes

Suggestions and complaints are to be first addressed to Customer Support at admin@EquityMidas.com

Privacy Policy

Our Privacy Policy, which may change from time to time, is an integral part of this Terms of Use and shall be read along with this Terms of Use.

Applicable Laws

Your use of this Website and any Term and Conditions is subject to laws of India. In case of any disputes arising out of the use of the Website, Courts of Pune will have exclusive jurisdiction.

Risk Profiling Disclaimer

You agree that the services provided is only in the form of recommendations on the potential investment opportunities and we are not responsible for any losses that may be caused on the investment decisions taken based on our recommendations.

Though this is out of our purview, Investment of entire capital into equity stocks is absolutely not recommended.

You would not bring any claim to Equity Midas Capital, and/ or its group entities, or any officers, employees or our agents in respect of any or all losses, direct or indirect damages, claims, proceedings, cost and expenses suffered by you or any one for the decisions undertaken based on our recommendations. You are recommended to independently evaluate whether to make an investment or not. 

We would not be responsible for any losses that are caused on account of investment decisions taken by you which do not match your risk profile.