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The content of the site and the interpretation of data are solely the personal views of the contributors. Geojit Financial services reserves the right to make modifications and alterations to the content of the website. Users are advised to use the data for the purpose of information only and rely on their own judgment while making investment decisions. The investments discussed or recommended may not be suitable for all investors. Geojit Financial services does not warranty the timeliness, accuracy or quality of the electronic content.
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Research Disclaimer
Geojit Financial Services Limited (Formerly known as Geojit BNP Paribas), a publically listed company, is engaged in services of retail broking, portfolio management and marketing investment products including mutual funds, life & general insurance and properties and as such prepares and shares research data and reports periodically with clients, investors, stake holders and general public in compliance with Securities and Exchange Board of India Act, 1992, Securities And Exchange Board Of India (Research Analysts) Regulations, 2014 and/or any other applicable directives, instructions or guidelines issued by the Regulators from time to time.
Research report is a written or electronic communication that includes research analysis, research recommendation or an opinion concerning securities or public offer, providing a basis for investment decisions. The views expressed therein are based solely on information available publicly/internal data/other reliable sources believed to be true. The information is provided merely as a complementary service and do not constitute an offer, solicitation for the purchase or sale of any financial instruments, inducement, promise, guarantee, warranty, or as an official confirmation of any transactions or contract of any kind.
Research data and reports published/ emailed/ text messaged via Short Messaging Services, Online Messengers, WhatsApp etc transmitted through mobile application/s, including but not limited to FLIP™, Video Widget, telephony networks, print or electronic media and or those made available/uploaded on social networking sites (e.g. Facebook, Twitter, LinkedIn etc) by Geojit Financial Services Limited (hereinafter Geojit), or those recommendation or offers or opinions concerning securities or public offer which are expressed as and during the course of “Public Appearance” are for informational purposes only. The reports are provided for assistance and are not intended to be and must not alone be taken as the basis for an investment decision. The user assumes the entire risk of any use made of this information. Though disseminated to clients simultaneously, not all clients may receive the reports at the same time. GEOJIT will not treat recipients as clients by virtue of their receiving this report.
The reports include projections, forecasts and other predictive statements which represent GEOJIT’s assumptions and expectations in the light of currently available information. These projections and forecasts are based on industry trends, circumstances and factors which involve risks, variables and uncertainties. The actual performance of the companies represented in the report may vary from those projected. The projections and forecasts described in this reports should be evaluated keeping in mind the fact that these :
Are based on estimates and assumptions.
Are subject to significant uncertainties and contingencies.
Will vary from actual results and such variations may increase over a period of time.
Are not scientifically proven to guarantee certain intended results.
Are not published as a warranty and do not carry any evidentiary value
Are not based on certain generally accepted accounting principles.
Are not to be relied on in contractual, legal or tax advice.
Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Reports based on technical analysis is focused on studying charts and movements of the securities’ price movement trading volume etc., as opposed to focusing on a company or commodity's fundamentals and as such, may not match with a report on such fundamentals. Though we review the research reports for any untrue statements of material facts or any false or misleading information, , we do not represent that it is accurate or complete and it should not be relied on in connection with a commitment or contract whatsoever. Because of the possibility of human, technical or mechanical error by our sources of transmission of Reports/Data, we do not guarantee the accuracy, adequacy, completeness or availability of any information and are not to be held responsible for any errors or omissions or for the results obtained from the use of such information. Geojit and/or its Affiliates and its officers, directors and employees including the analysts/authors shall not be in any way responsible for any indirect, special or consequential damages that may arise to any person from any inadvertent error in the information contained in the reports nor do they take guarantee or assume liability for any omissions of the information contained therein. Information contained therein cannot be the basis for any claim, demand or cause of action. These data, reports and information do not constitute scientific publication and do not carry any evidentiary value whatsoever.
The reports are not for public distribution. Reproduction or dissemination, directly or indirectly, of research data and reports of Geojit in any form is prohibited except with the written permission of Geojit. Persons into whose possession the reports may come are required to observe these restrictions. Opinions expressed therein are our current opinion as of the date appearing on the report only. Data may be subject to update and correction without notice. While we endeavor to update on a reasonable basis the information discussed in the reports, there may be regulatory, compliance, or other reasons that prevent us from doing so.
The reports do not take into account the particular investment objectives, financial situations, risk profile or needs of individual clients. The user assumes the entire risk of any use made of this information. Each recipient of the reports should make such investigation as deemed necessary to arrive at an independent evaluation of an investment in the securities of companies/commodities referred to in such reports (including the merits and risks involved).
Certain transactions - futures, options and other derivatives as well as non-investment grade securities - involve substantial risks and are not suitable for all investors. Investors may lose his/her entire investment under certain market conditions. Before acting on any advice or recommendation in this material, investors should consider whether it is suitable for their particular circumstances and, if necessary, seek professional advice. The price and value of investments referred to in research reports and the income from them may fluctuate. Transaction costs may be significant in option strategies calling for multiple purchase and sales of options. Foreign currencies denominated securities are subject to fluctuations in exchange rates that could have an adverse effect on the value or price of or income derived from the investment. Investors in securities such as ADRs, the value of which are influenced by foreign currencies effectively assume currency risk.
The recommendations in the reports are based on 12 month horizon, unless otherwise specified. The investment ratings are on absolute positive/negative return basis. It is possible that due to volatile price fluctuation in the near to medium term, there could be a temporary mismatch to rating. For reasons of valuations/return/lack of clarity/event we may revisit rating at appropriate time. The securities always carry the risk of being upgraded to buy or downgraded to a hold, reduce or sell. The opinions expressed in the reports are subject to change but we have no obligation to tell our clients when our opinions or recommendations change. The reports are non-inclusive and do not consider all the information that the recipients may consider material to investments. The reports are issued by Geojit without any liability/undertaking/commitment on the part of itself or any of its entities.
Recipients of the research reports should assume that entities of Geojit may receive commission, brokerage, fees or other compensation from the company or companies that are connected to the subject of the reports. We and our affiliates, officers, directors, and employees, including persons involved in the preparation or issuance of reports/data/material, may, from time to time have 'long' or 'short' positions in, act as principal in, and buy or sell the securities thereof of company or companies that are connected to the subject of the reports mentioned therein or be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as market maker in the financial instruments of the company/ies that are connected to the subject of the reports or act as advisor or lender/borrower to such company/ies or have other potential conflicts of interests with respect to any recommendation and related information and opinions.
No disciplinary action has been taken against the research analyst or Geojit by any authority in connection with their respective business activity.
Geojit, Research analysts, persons reporting to research analysts and their relatives may have financial interests and material conflict of interest in companies connected to the subject of the reports.
Geojit, Research analysts, persons reporting to research analysts and their relatives may have actual/beneficial ownership of 1% or morein companies connected to the subject of the reports at the month immediately preceding the date of publication of this research report.
Past performance is not a guide for future performance, future returns are not guaranteed and investors may suffer losses which may exceed their original capital.
The securities described herein may not be eligible for sale in all jurisdictions or to all categories of investors. Distributing/taking/sending/dispatching/transmitting this document in certain foreign jurisdictions may be restricted by law, and persons into whose possession this document comes should inform themselves about, and observe any such restrictions. Failure to comply with this restriction may constitute a violation of any foreign jurisdiction laws.
The user should consult their own advisors to determine the merits and risks of investment and also read the Risk Disclosure Documents for Capital Markets and Derivative Segments as prescribed by Securities and Exchange Board of India before investing in the Indian Markets
You agree and understand that the information and material contained in this website implies and constitutes your consent to the terms and conditions mentioned below. You also agree that Geojit Financial services can modify or alter the terms and conditions of the use of this service without any liability.
    We at Geojit Financial Services Ltd and its affiliates (hereinafter referred to as ‘Geojit’) are committed to protect our customers’ personal information and/or sensitive personal data and strive to maintain the privacy of your personal information. We have created this Privacy Policy to help you understand how we collect, use and protect your information when you visit our web and WAP sites and use our products and services.
    For the purpose of this Policy, “Personal information” is any information that relates to a natural person which, either by itself or can be used in combination with any other information available with Geojit, for identifying such person. Sensitive personal data or information as defined under Rule 3 of IT (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 has been considered as a part of personal information.
    Geojit may collect and hold personal information relating to you and your identity that you have provided to us, such as on an application or Know Your Client (KYC) and member-client forms. We may also collect your personal information when you use our services or websites or otherwise interact with us during the course of our relationship.
    Personal information collected and held by us may include, amongst other things, your father’s name, spouse’s name, date of birth, residential and correspondence addresses (current and previous), telephone number, mobile phone number, email address, education and occupation related details and information contained in the documents used as proof of identity and proof of address and bank account. Geojit collect, store, process Sensitive Personal Information, including password, financial information (details of annual income, networth, portfolio, Bank account, debit card, or other payment instrument details), depository details. We may also hold information related to your utilization of our services which may include your call details, your browsing history on our website and additional information provided by you while using our services any other information collected in relation to your use of our products and services ("information").
    Verify your identity and processing of your applications/forms/agreements.
    Process transactions/orders effectively for products and services.
    Inform about our and our group companies' products and services which we consider may be of interest to you and may benefit you.
    Deal and respond with requests, enquiries or complaints and other customer care related activities.
    General administrative, research and business purposes
    Ensure adherence to legal and regulatory requirements. Geojit shall ensure that the personal information collected will be used only to the extent it is necessary to administer our services in the best possible manner and what is required under the various regulations of Indian Laws.
    In case you do not provide your information or consent for usage of personal information or later on withdraw your consent for usage of the personal information so collected, Geojit reserves the right to not provide the services or to withdraw the services for which, the said information was sought.
    There may be certain circumstances, when Geojit may be required to share the information given by you with the third parties. We may transfer your personal information or sensitive personal information collected, stored, processed by us to any other entity or organization located in India or outside India only in case it is necessary for providing services to you or for assisting in protecting the operation of Geojit networks and systems or if you have consented (at the time of collection of information) to the same.
    We shall take all reasonable steps to ensure that the confidentiality of your information is maintained by imposing strict confidentiality standards on all the third parties with whom we part these information. In all circumstances we shall ensure that your personal information is protected by strict confidentiality agreement. We shall not allow any third parties to retain your personal information longer than what is warranted by the nature of services rendered.
    We will also impart your personal information wherever it is required to be disclosed under law to any of the governmental agency or regulatory bodies or court or any appropriate authority.
    Geojit adopt reasonable security practices and procedures to protect your personal information from unauthorized access, or disclosure while it is under our control. Our security practices and procedures limit access to personal information on need-only basis. Further, our employees are bound by Internal Code of Conduct and Confidentiality Policies which obligate them to protect the confidentiality of personal information.
    We take adequate steps to ensure that our third parties adopt reasonable level of security practices and procedures to ensure security of personal information. We may retain your personal information for as long as required to provide you with services or if otherwise required under any law.
    Information relating to electronic transactions entered into via this Website will be protected by encryption technology. You are also responsible for maintaining the secrecy of your passwords and/or any account information.
    We maintain the security of our internet connections however, for reasons outside of our control, security risks may still arise. Any personal information transmitted to us or from our online products or services will therefore be your own risk. However, we will strive to ensure the security of your information. We observe reasonable security measures to protect your personal information against hacking and virus dissemination.
    Please note that Geojit website may contain links to third party links/websites over which we exercise no control. It is highly recommended that when you are accessing a non- Geojit website, you should always read their privacy policy or website terms and conditions – especially if you are considering providing them with your personal information.
    We are committed to safeguard your personal information collected and handled by us and look forward to your continued support for the same. In case of any feedback or concern regarding protection of your personal information, you can contact us at Alternatively, you may also direct your privacy-related feedback or concerns to the Privacy Grievance Officer whose details are as mentioned below:
    Issac Yohannan
    Chief Information Security Officer
    Contact no: 0484 2901720
    Mobile: 9995800649
    Geojit reserves the right to amend or modify this Privacy Policy at any time, as and when the need arises. We request you to visit our website periodically for contemporary information and changes.
In congruity with industry standards & practice and our business requirements, our employees are incentivized, financially or otherwise, for the business generated through various financial products & services offered. However, we do not have an incentive structure that encourages sale of products that are in conflict with your interests. Earnest efforts have been made to introduce the most comprehensive products & services, keeping our client's best interest in mind. This disclosure is being made voluntarily, towards our initiative to eliminate conflict of interest situations.
Standard set of Account Opening Form – Individual
Standard set of Account Opening Form – Non Individual
GST Registration No.