Disclosure

• The particulars given in this Disclosure Document have been prepared in accordance with SEBI (Research Analysts) Regulations, 2014.
• The purpose of this document is to provide essential information about the Research and Recommendation services to help clients make informed decisions before engaging in such services.
• For the purpose of this Disclosure Document, the "Research Analyst" refers to Bhupendra Kumar Kushwaha.

Descriptions about “Research Analyst”

History, Present business and Background:

• Research Analyst is registered with SEBI with Registration No. INH000022604. The Analyst got its registration on 07th August, 2025 and is engaged in research and recommendation Services.
• The focus of Research Analyst is to provide research and recommendations services to the clients. Analyst aligns its interests with those of the client and seeks to provide well researched services.

Terms and conditions of Research and Recommendation Services:

• Terms and conditions of Research and Recommendation Services are detailed in the terms and condition document. Please refer to the same for details

Disciplinary history:

• There are no pending litigations, legal proceedings, regulatory actions, or disciplinary events reported against the Research Analyst, its associates, or relatives.

Details of Associates

• There are no associates linked with the Research Analyst.

Disclosures with respect to Research and Recommendations Services:

• The Research Analyst or relatives may hold financial interest or beneficial ownership of one percent or more in securities recommended. Any such details shall be disclosed during the time of recommendation.
• There are no conflicts of interest that may compromise independence or objectivity in research activities. Should any arise, they will be promptly disclosed.
• The Research Analyst or relatives have no material association with any issuer of securities recommended.
• No compensation is received from any company for providing research recommendations.
• The Research Analyst has not managed or co-managed any public offerings in the last 12 months.
• No compensation has been received for investment banking or brokerage services from the subject company in the last 12 months.
• The subject company is not a client of the Research Analyst or associates.
• The Research Analyst does not serve as an officer, director, or employee of the subject company.
• The Research Analyst does not engage in market-making activities for the subject company.