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This report/recommendation (report) is published by LatinManharlal Securities Pvt Ltd. ( "Lmspl") for private circulation only. The report is meant for informational purposes and should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. While utmost care has been taken in preparing the report, we claim no responsibility for its accuracy. Recipients should not regard the report as a substitute for the exercise of their own judgment. Any opinions expressed in the report are subject to change without any notice and LMSPL is not under any obligation to update or keep current the information contained herein. Past performance is not necessarily indicative of future results. The Report accepts no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of the report. LMSPL and its associated companies, directors, officers and employees may from time to time have a long or short position in the securities mentioned and may sell or buy such securities, or act upon information contained herein prior to the publication thereof. LMSPL may also provide other financial services to the companies mentioned in the report."

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