Disclosures

Smart VERC is a proprietorship firm owned by Dr. Anil Kumar Asnani with registration number: C / 544833. Address: 28, Sector 9-B, Saket Nagar, Bhopal, Madhya Pradesh - 462 024, India. Henceforth ‘Smart VERC’ implies the organisation including its owner, relatives, associates, and employees. 

• All the research reports and recommendations published by Smart VERC are researched and prepared by Dr. Anil Kumar Asnani, an Individual Research Analyst (SEBI Reg. - INH000000420). He has an experience of 34 years of stock investments. He is the author of the book ‘Way To Billionaire.’ By qualification, he is BE, MBA (Finance), ERA (ICFAI, Hyderabad), and Ph.D.
• Smart VERC is registered with SEBI solely as a Research Analyst and does not engage in activities such as Brokerage, Portfolio Management Services, Merchant Banking, etc., that could create conflicts of interest. 
• All the recommendations are made under the brand name Smart VERC.
• Smart VERC is engaged in and limited to publishing research reports and articles in papers, preparing educational and insightful videos (no company advice), and conducting seminars/webinars/workshops.
• The firm has well-established written internal policies and procedures to govern the dealing and trading by research analysts for conflict of interest, promoting objective and reliable equity research activities.
• Smart VERC strictly adheres to all the rules and regulations established by SEBI with regard to trading in the recommended securities. 
• Research activities are kept at arm's length from other activities carried out at Smart VERC.
• Smart VERC does not maintain any affiliations, associates, or branches anywhere.
• Smart VERC does not undertake the distribution of third-party research reports.
• Smart VERC does not undertake any company's market-making activity.
• No disciplinary action has been taken against Smart VERC by any of the regulatory authorities.

Scope and limitations of research:

• Research reports are prepared only for the companies already listed on stock exchanges. No research reports are prepared, or public appearances are made for the companies coming out with initial public offering (IPO) or further public offering (FPO).  
• Research is performed based on publicly available published information on respective company websites, stock exchange websites, company presentations/call transcripts, and internal analysis.
• Financial projections are based on the order book/undergoing expansion/plans/management guidance/currency movement/own judgment/raw material price movements etc.
• The share price projections are based on the valuation method discussed in the research report.
• The stock market movements also affect the share price; the external macro and micro factors have a crucial role to play; hence, the target price may or may not be achieved in the indicated period.
• Every recommendation and research report includes a 'Stop Loss' feature, which proves valuable in minimizing losses in the event of an abrupt decline in stock prices in relation to stock indices.
• The risk level (High / Average / Low) stated in recommendations and research reports is based on broad indices such as the BSE Sensitive Index and NSE Nifty-50 index.
• Details regarding financial interests and any potential conflicts of interest are disclosed in the corresponding company research reports or related documents.
• The research publication does not serve as advice to buy or sell stocks. It is recommended that investors seek assistance from a financial professional before making any investment decisions.