Disclosures - Uncover Markets

Standard Disclosures and Internal Policies

Our website address is: https://uncovermarkets.in.

Standard Disclosures

. Wherever, any of the statements below is no longer suitable due to changing circumstances and trading activities of RA or its analysts, then it will be specifically highlighted. It shall be put in disclosure that:

As an investor, it is your money and you are the sole owner of that money. We are not going to ask you to deposit any money with us to take trades on your behalf. If someone contacts you to park your funds in name of Darpan Aggarwal (or his proprietorship – Uncover Markets), you MUST not do that and MUST report it to us immediately. At max we only provide the recommendations, and it is up to your discretion to use that tip for your trade. You are responsible for any profits / losses on your investments.
We ensure that we don’t make any promised returns as markets are volatile and despite best of our knowledge, it may not go in the predicted direction. So, all your investments are subject to market risk
As far as possible, RA tries to ensure that while trading from his personal funds, he is not trading in the same securities 30 days prior and 5 days after a tip has been given. However, there could still be chance that RA has taken a position in the same security as he has recommended. So, investors must be conscious of such human errors.
That the research reports have been prepared by Darpan Aggarwal in capacity of being a SEBI Registered Research Analyst (with registration number included). Henceforth, would be termed as RA
That the RA is engaged in providing independent and objective research on various sectors, companies, and markets
This should be noted that RA might be employed / associated with some corporate companies, however, RA would ensure that there is no conflict of interest while sharing the recommendations
That RA or its analysts or their relatives might be having the investments in the subject company, within the guidelines of SEBI. Hence, user of the research reports / stock recommendations must use their discretion to take investment decisions. It is further advised, that they discuss planned investments with Financial Advisors before investing
That the RA or its associates or relatives might have actual/beneficial ownership of one per cent. or more securities of the subject company, at the end of the month immediately preceding the date of publication of the research report or date of the public appearance
That, beyond what has been acknowledged in point # 3 and #4 of the disclosures, RA or its analysts or their relatives do not have any other material conflict of interest with the subject company at the time of publication of this research report or at the time of public appearance
That RA or its analysts have not received any compensation from the subject company in the past twelve months. They have not managed or co-managed public offering of securities for the subject company in the past twelve months. They have not received any compensation for investment banking or merchant banking or brokerage services from the subject company in the past twelve months. They have not received any compensation or other benefits from the subject company or third party in connection with this research report. If any companies fall under such categories, RA doesn’t cover them as part of his analysis
That the analysts who prepared this research report do not serve as officers, directors, or employees of the subject company. They are not engaged in market making activity for the subject company
That RA or its analysts do not provide any services to the subject company and the company is not a client for RA
That the views expressed in this research report are based on publicly available information. However, RA does not guarantee the accuracy, completeness, or timeliness of such information and data and assumes no liability for any errors or omissions. The opinions, estimates, projections, and recommendations in this research report are subject to change without notice and are solely those of the analysts
That this material is for generic use and for the personal information of the authorized recipient and our prospects. Investors must consult competent advisors to help them make investment decision as per their individual risk profiles
That Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities – involve substantial risk and are not suitable for all investors. Reports based on technical analysis centres on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals
That by referring to any particular sector, RA does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and the like, and take professional advice before investing
As on 26/05/2024 – This RA has not got any disputes / complaints registered against him with SEBI

Terms & Conditions

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

Disciplinary History

There is no disciplinary action on the RA from SEBI or any other regulatory agency

Internal Policies and Procedures

The purpose of this document is to outline the internal policies and procedures governing our research activities. These are in line with guidance by SEBI for Research Analysts (hereinafter referred to as “we” or “us”) in order to ensure compliance with the SEBI (Research Analysts) Regulations, 2014 (hereinafter referred to as “the Regulations”).

We are committed to providing objective, reliable, and unbiased research reports and analysis that reflect our independent views and opinions on the securities and companies that we cover. We also aim to prevent any actual or potential conflict of interest arising from our dealings or trading in securities of the subject companies, or from our other business activities.

We have established the following mechanisms to ensure the independence and integrity of our research activities:

Segregation of Research Activities: We have segregated our research activities from all other activities and maintained an arms-length relationship between them. We do not allow any undue influence or interference from any other business division or external party on our research activities.
Conflict of Interest Disclosure: We disclose any actual or potential conflict of interest that may arise from our dealings or trading in securities of the subject companies, or from our other business activities, in our research reports and analysis, as well as in our public appearances. We also disclose any material information that may affect the objectivity or reliability of our research, such as our ownership of securities of the subject companies, our involvement in any public offering or underwriting of securities of the subject companies, our receipt of any compensation or benefits from the subject companies or any other party related to our research activities, or any other relevant facts or circumstances.
Limitations on Trading by Research Analysts: We monitor, record, and where necessary, subject to a formal approval process, the personal trading activities of the individuals employed as research analysts by us (if any). We also ensure that our research analyst(s), do not deal or trade in securities that they recommend or follow within 30 days before and 5 days after the publication of a research report, or in a manner contrary to their given recommendation. We also prohibit them from purchasing or receiving securities of the issuer before the issuer’s initial public offering, if the issuer is principally engaged in the same types of business as companies that they follow or recommend.
Limitations on Publication of Research Report, Public Appearance and Conduct of Business: We do not publish or distribute research reports or analysis or make public appearances regarding a subject company for which we have acted as a manager or co-manager within 40 days following the day on which the securities are priced if the offering is an initial public offering, or within 10 days following the day on which the securities are priced if the offering is a further public offering, unless we obtain prior written approval from our legal or compliance personnel as specified in our internal policies and procedures. We also do not publish or distribute research reports or analysis or make public appearances regarding an issuer for whom we have agreed to participate or are participating as an underwriter before expiry of 25 days from the date of the offering.
Conduct of Business: We do not participate in business activities designed to solicit investment banking or merchant banking or brokerage services business, such as sales pitches and deal road shows. We do not engage in any communication with a current or prospective client in the presence of personnel from investment banking or merchant banking or brokerage services divisions or company management about an investment banking services transaction. However, this section does not prohibit us from engaging in investor education activities including publication of pre-deal research and briefing the views of our research analysts on the transaction to the sales or marketing personnel.
Quality and Consistency of Research: We have adequate documentary basis, supported by research, for preparing a research report. We do not provide any promise or assurance of favourable review in our research report to a company or industry or sector or group of companies or business group as consideration to commence or influence a business relationship or for the receipt of compensation or other benefits. We do not issue a research report that is not consistent with the views of our research analysts regarding a subject company. We ensure that our research analysts are separate from other employees who are performing sales, video editing, website creation and maintenance etc..
Contents of Research Report: We take steps to ensure that facts in our research reports are based on reliable information and we define the terms used in making recommendations, and these terms are consistently used.
Recommendations in Public Media: If we make public appearance or make a recommendation or offer an opinion concerning securities or public offers through public media, we disclose our registration status and details of financial interest in the subject company at the time of making such recommendation or offering such opinion in personal capacity, responding to queries from audiences or journalists in personal capacity, or communicating the research report or substance of the research report through the public media.
Distribution of Research Reports: We do not make our research reports available selectively to internal trading personnel or a particular client or class of clients in advance of other clients who are entitled to receive the research report. If we distribute any third party research report, we review the third party research report for any untrue statement of material fact or any false or misleading information. We also disclose any material conflict of interest of such third-party research provider or we provide a web address that directs a recipient to the relevant disclosures. These provisions do not apply to us if we have no direct or indirect business or contractual relationship with such third party research provider.
Registration and Certification: We obtain a certificate of registration from SEBI before acting as a research analyst. We also ensure that we have the necessary qualifications, experience, and certification as prescribed by SEBI. We renew our registration as directed by SEBI regulations. We display our registration number on our research reports and analysis, and on our website.

We review and update our internal policies and procedures periodically to ensure their effectiveness and compliance with the Regulations.

Signed by:

Darpan Aggarwal