Disclaimer

Last updated 21 September 2026 · Version 2026-09

Registration and nature of service

Sugam Kashyap is registered with the Securities and Exchange Board of India as a Research Analyst (Registration no. INH000011325, type: Individual) under the SEBI (Research Analysts) Regulations, 2014, and is administered and supervised by the Research Analyst Administration and Supervisory Body (RAASB), BSE Limited.

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

Not personalised advice

Research reports and views published are general in nature and do not take into account the specific investment objectives, financial situation or needs of any person. They are not an offer or solicitation to buy or sell any security. Investors should consider whether any view is suitable for their circumstances and, if necessary, consult a SEBI-registered Investment Adviser.

Risk

Investment in securities is subject to market risk. Prices can fall as well as rise and investors may lose part or all of their capital. Stop-losses reduce but do not eliminate risk; gaps and illiquidity can cause losses beyond the stop level. Past performance of research views is not a guarantee of future results.

No execution, no handling of funds

The Research Analyst does not execute trades on behalf of clients, does not manage client funds or securities, and does not accept payment into any account other than those published on this website. Clients are advised not to share trading credentials with anyone.

Tools on this site

The sector rotation map, stock lookup and screens are informational tools built from third-party end-of-day data. They may contain errors, omissions or delays, are not research reports, and must not be relied on as recommendations.

Use of AI tools

Artificial-intelligence tools may be used to assist with data processing, drafting and editing. The Research Analyst remains fully responsible for the research, the data used, and the security and confidentiality of client information.

Liability

To the extent permitted by law, the Research Analyst is not liable for any loss arising from reliance on the research or on this website. Nothing here excludes liability that cannot be excluded under Indian law or SEBI regulations.