Disclosures & Disclaimers

Disclosures

Business Activity

Equity Midas Capital thru EquityMidas.com is engaged in the business of providing subscription services to their stock buy/sell recommendations. Ashish Arole (Sole 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 proprietary quantitative models which are proprietary and cannot be disclosed. Being quantitative research analysts, we do not study individual companies. Our recommendations are the output of a mathematical model. Hence, we do not provide detailed research reports or regular updates on the company performance. The only information shared with paid subscribers is the list of stocks and our buy/hold/sell recommendation.

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

• Equity Midas Capital, its 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).
• Equity Midas Capital and/or its associates and employees may;
  • 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
  • considering the nature of business/activities that Equity Midas Capital 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).
• Equity Midas Capital and/or its associates and employees, have no actual/beneficial ownership of one per cent or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance or research recommendation
• Equity Midas Capital and/or its associates and employees have no connection or association of any sort with any issuer of products/ securities recommended herein
• Equity Midas Capital and/or its associates and employees have no actual or potential conflicts of interest arising from any connection to or association with any issuer of products/ securities, including any material information or facts that might compromise its objectivity or independence in the carrying on of research and recommendations services expect the one mentioned in this disclosure.
• Equity Midas Capital will disclose stock specific interests and ownership for every recommendation on the “Recommendations” page. This data is provided as on, both the “BUY” date and “SELL” date.

Disclosures with Regards to Receipt of Compensation

• Equity Midas Capital and/or its associates and employees have NOT received any compensation from the subject company in the past twelve months.
• Equity Midas Capital and/or its associates and employees have NOT managed or co-managed public offering of securities for the subject in the past twelve months.
• Equity Midas Capital and/or its associates and employees NOT received any compensation or other benefits from the subject company or third party in connection with the research report.

Other Disclosures

• The research analyst has NOT served as an officer, director, employee of the subject company.
• Equity Midas Capital and/or its associates and employees have NOT been engaged in market making activity for the subject company.
• The subject company is or was not a client of Equity Midas Capital and/or its associates and employees during twelve months preceding the date of distribution of the research report and recommendation services provided.

Disclaimers

SEBI Mandated Disclaimer

1. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. 2. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Not an Investment Advice

• Research and/or recommendations published by Equity Midas Capital is solely for information of clients 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.
• We have exercised due diligence in checking the correctness and authenticity of the information contained in this recommendation.
• Reports or research material prepared by the company do not constitute a personal recommendation or consider the particular investment objectives, financial situations, risk profile and needs of individual clients.
• No part of this material and/or our recommendations may be duplicated in any form and/or redistributed without the prior written consent of the Company.
• Equity Midas Capital does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner.
• Any action taken by you based on the information contained herein is your responsibility alone. Equity Midas Capital and/or its associates and employees and will not be liable in any manner for the consequences of such action taken by you.
• Investors are responsible for their investment decisions and are responsible to validate all the information used to make the investment decision. Investor should understand that his/her investment decision is based on personal investment needs and risk tolerance, and our recommendations is one among many other things that should be considered while making an investment decision.

• All investments involve risk. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing.
• Clients should not assume that any discussion or information contained on this website serves as the receipt of, or as a substitute for, personalized investment advice from your SEBI registered investment advisor.
• The content and data available in the material prepared by the company and on the website of the company, including but not limited to index value, return numbers and rationale are for information and illustration purposes only.
• Charts and performance numbers might include back tested/simulated results calculated via a standard methodology and do not include the impact of transaction fee and other related costs.

Past Performance & Back Testing

• Past performance is not indicative of future results and there can be no assurance that the future performance of any specific investment, investment strategy, or product will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.
• Due to various factors, including changing market conditions, macro economic conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.
• “Back-testing” is the application of a quantitative model to historical market data to generate hypothetical performance during a prior period. Equity Midas Capital uses its proprietary quantitative models to identify stocks recommendations. These models are back-tested to verify for efficacy and correctness of their recommendations.
• Use of back-tested data has inherent limitations including the following:

• The results do not reflect the results of actual trading or the effect of material economic and market conditions on the decision-making process, but were achieved by means of retrospective application, which may have been designed with the benefit of hindsight
• Calculation of such back-tested performance data is based on assumptions integral to the model which may or may not be testable and are therefore subject to losses.
• Actual performance may differ significantly from back-tested performance. Back-tested results are not adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, do not include the effect of back-tested transaction costs.

• Back-tested returns do not represent actual returns and should not be interpreted as an indication of such.

No Guarantees

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.