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CMS INFO SYSTEMS LIMITED Share Price Update

As of the latest trading session, CMS INFO SYSTEMS LIMITED is trading at ₹294.35, down by ₹-4.50 or -1.50% from its previous close. The stock has moved between ₹294.25 and ₹305.95 today. Over the past year, the stock has delivered a return of -32.95%. In the last month, it has returned -2.33%.

CMS INFO SYSTEMS LIMITED performance

Today’s low Today’s high
₹ 294.25 ₹ 305.95
₹ 301.05
52 week low 52 week high
₹ 261.90 ₹ 541.15
₹ 301.05
Open Price ₹ 299.10
Prev. Close ₹ 298.85
Volume (Shares) 130519.00
Total traded value ₹ 392.92
Upper Circuit ₹ 358.60
Lower Circuit ₹ 239.10
info

Investment Returns

Over 1 Month -2.33% Over 3 Months -5.03% Over 6 Months -15.85% Over 1 Year -32.95%
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CMS INFO SYSTEMS LIMITED fundamentals


  • Market cap (Cr) 4,956.40
  • P/E Ratio (TTM) 16.48
  • Beta 0.48
  • Book Value / share 135.03
  • Return on equity 16.22%
  • EPS (TTM) 18.38
  • Dividend yield 3.17%
  • Net profit/quarter (Cr) 55.92
info icon alternate text
  • Market cap (Cr) 4,957.20
  • P/E Ratio (TTM) 16.48
  • Beta 0.48
  • Book Value / share 135.03
  • Return on equity 16.22%
  • EPS (TTM) 18.38
  • Dividend yield 3.17%
  • Net profit/quarter (Cr) 55.92
info icon alternate text

CMS INFO SYSTEMS LIMITED Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars DEC 2025 (Values in Cr)
Revenue 560.10
Operating Expense 485.10
Net Profit 55.92
Net Profit Margin (%) 9.98
Earnings Per Share (EPS) 3.40
EBITDA 129.17
Effective Tax Rate (%) 25.95
Particulars SEP 2025 (Values in Cr)
Revenue 557.23
Operating Expense 481.11
Net Profit 74.57
Net Profit Margin (%) 13.38
Earnings Per Share (EPS) 4.53
EBITDA 145.15
Effective Tax Rate (%) 22.56
Particulars JUN 2025 (Values in Cr)
Revenue 582.09
Operating Expense 483.06
Net Profit 84.13
Net Profit Margin (%) 14.45
Earnings Per Share (EPS) 5.12
EBITDA 159.46
Effective Tax Rate (%) 25.56
Particulars MAR 2025 (Values in Cr)
Revenue 571.76
Operating Expense 471.17
Net Profit 83.89
Net Profit Margin (%) 14.67
Earnings Per Share (EPS) 5.10
EBITDA 156.70
Effective Tax Rate (%) 24.86
Particulars DEC 2024 (Values in Cr)
Revenue 521.96
Operating Expense 425.82
Net Profit 79.12
Net Profit Margin (%) 15.15
Earnings Per Share (EPS) 4.82
EBITDA 149.37
Effective Tax Rate (%) 25.43
Particulars MAR 2025 (Values in Cr)
Revenue 2222.90
Operating Expense 1824.31
Net Profit 328.88
Net Profit Margin (%) 14.79
Earnings Per Share (EPS) 20.12
EBITDA 611.07
Effective Tax Rate (%) 25.32
Particulars MAR 2024 (Values in Cr)
Revenue 2046.84
Operating Expense 1665.80
Net Profit 354.22
Net Profit Margin (%) 17.30
Earnings Per Share (EPS) 22.67
EBITDA 617.26
Effective Tax Rate (%) 22.80
Particulars MAR 2023 (Values in Cr)
Revenue 1703.80
Operating Expense 1365.51
Net Profit 275.41
Net Profit Margin (%) 16.16
Earnings Per Share (EPS) 17.90
EBITDA 508.37
Effective Tax Rate (%) 24.56
Particulars MAR 2022 (Values in Cr)
Revenue 1407.67
Operating Expense 1136.25
Net Profit 213.47
Net Profit Margin (%) 15.16
Earnings Per Share (EPS) 14.35
EBITDA 386.58
Effective Tax Rate (%) 25.07
Particulars MAR 2021 (Values in Cr)
Revenue 1130.90
Operating Expense 934.60
Net Profit 151.68
Net Profit Margin (%) 13.41
Earnings Per Share (EPS) 10.25
EBITDA 276.31
Effective Tax Rate (%) 27.97
Particulars MAR 2025 (Values in Cr)
Book Value / Share 137.90
ROE % 17.68
ROCE % 22.75
Total Debt to Total Equity 0.00
EBITDA Margin 27.94
Particulars MAR 2024 (Values in Cr)
Book Value / Share 119.61
ROE % 19.78
ROCE % 25.14
Total Debt to Total Equity 0.00
EBITDA Margin 27.97
Particulars MAR 2023 (Values in Cr)
Book Value / Share 101.20
ROE % 21.09
ROCE % 26.62
Total Debt to Total Equity 0.00
EBITDA Margin 28.85
Particulars MAR 2022 (Values in Cr)
Book Value / Share 82.02
ROE % 20.00
ROCE % 25.05
Total Debt to Total Equity 0.00
EBITDA Margin 25.65
Particulars MAR 2021 (Values in Cr)
Book Value / Share 66.52
ROE % 18.37
ROCE % 24.22
Total Debt to Total Equity 0.00
EBITDA Margin 23.69
Particulars MAR 2025 (Values in Cr)
Book Value / Share 131.80
ROE % 16.22
ROCE % 21.07
Total Debt to Total Equity 0.00
EBITDA Margin 27.49
Particulars MAR 2024 (Values in Cr)
Book Value / Share 116.07
ROE % 20.92
ROCE % 25.80
Total Debt to Total Equity 0.00
EBITDA Margin 30.16
Particulars MAR 2023 (Values in Cr)
Book Value / Share 96.94
ROE % 20.34
ROCE % 25.50
Total Debt to Total Equity 0.00
EBITDA Margin 29.84
Particulars MAR 2022 (Values in Cr)
Book Value / Share 79.13
ROE % 19.74
ROCE % 24.83
Total Debt to Total Equity 0.00
EBITDA Margin 27.46
Particulars MAR 2021 (Values in Cr)
Book Value / Share 64.27
ROE % 16.99
ROCE % 22.48
Total Debt to Total Equity 0.00
EBITDA Margin 24.43
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 295.65
Total Assets 3119.92
Total Liabilities 3119.92
Total Equity 2266.51
Share Outstanding 16
Price to Book Ratio 3.50
Return on Assets (%) 11.93
Return on Capital (%) 16.43
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 267.01
Total Assets 2658.52
Total Liabilities 2658.52
Total Equity 1946.75
Share Outstanding 16
Price to Book Ratio 3.36
Return on Assets (%) 13.05
Return on Capital (%) 17.83
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 156.25
Total Assets 2101.22
Total Liabilities 2101.22
Total Equity 1562.45
Share Outstanding 15
Price to Book Ratio 2.85
Return on Assets (%) 14.14
Return on Capital (%) 19.02
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 141.77
Total Assets 1855.69
Total Liabilities 1855.69
Total Equity 1256.13
Share Outstanding 15
Price to Book Ratio 3.35
Return on Assets (%) 12.07
Return on Capital (%) 17.84
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 194.54
Total Assets 1611.81
Total Liabilities 1611.81
Total Equity 984.47
Share Outstanding 14
Price to Book Ratio 0.00
Return on Assets (%) 10.45
Return on Capital (%) 17.12
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 264.64
Total Assets 2960.01
Total Liabilities 2960.01
Total Equity 2166.33
Share Outstanding 16
Price to Book Ratio 3.50
Return on Assets (%) 11.11
Return on Capital (%) 15.18
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 238.85
Total Assets 2562.42
Total Liabilities 2562.42
Total Equity 1889.13
Share Outstanding 16
Price to Book Ratio 3.36
Return on Assets (%) 13.82
Return on Capital (%) 18.75
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 104.75
Total Assets 1996.65
Total Liabilities 1996.65
Total Equity 1496.71
Share Outstanding 15
Price to Book Ratio 2.85
Return on Assets (%) 13.79
Return on Capital (%) 18.4
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 95.60
Total Assets 1761.39
Total Liabilities 1761.39
Total Equity 1211.91
Share Outstanding 15
Price to Book Ratio 3.35
Return on Assets (%) 12.11
Return on Capital (%) 17.61
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 142.60
Total Assets 1531.50
Total Liabilities 1531.50
Total Equity 951.19
Share Outstanding 14
Price to Book Ratio 0.00
Return on Assets (%) 9.90
Return on Capital (%) 15.95
Particulars MAR 2025 (Values in Cr)
Net Income 497.83
Cash from Operations 595.43
Cash from Investing -266.45
Cash from Financing -144.22
Net change in Cash 71.84
Free Cash Flow 749.76
Particulars MAR 2024 (Values in Cr)
Net Income 467.05
Cash from Operations 562.65
Cash from Investing -325.08
Cash from Financing -52.11
Net change in Cash 62.69
Free Cash Flow 671.02
Particulars MAR 2023 (Values in Cr)
Net Income 401.01
Cash from Operations 515.26
Cash from Investing -322.62
Cash from Financing -52.17
Net change in Cash 31.96
Free Cash Flow 708.57
Particulars MAR 2022 (Values in Cr)
Net Income 301.44
Cash from Operations 354.09
Cash from Investing -326.24
Cash from Financing 0.56
Net change in Cash -69.16
Free Cash Flow 638.06
Particulars MAR 2021 (Values in Cr)
Net Income 237.75
Cash from Operations 242.35
Cash from Investing -149.33
Cash from Financing -61.71
Net change in Cash -25.61
Free Cash Flow 297.44
Particulars MAR 2025 (Values in Cr)
Net Income 440.41
Cash from Operations 537.83
Cash from Investing -226.97
Cash from Financing -142.21
Net change in Cash 70.62
Free Cash Flow 692.08
Particulars MAR 2024 (Values in Cr)
Net Income 458.86
Cash from Operations 488.86
Cash from Investing -236.00
Cash from Financing -51.42
Net change in Cash 97.79
Free Cash Flow 597.25
Particulars MAR 2023 (Values in Cr)
Net Income 365.08
Cash from Operations 475.77
Cash from Investing -322.66
Cash from Financing -50.94
Net change in Cash 8.52
Free Cash Flow 657.65
Particulars MAR 2022 (Values in Cr)
Net Income 284.92
Cash from Operations 309.13
Cash from Investing -284.42
Cash from Financing 1.88
Net change in Cash -63.37
Free Cash Flow 586.46
Particulars MAR 2021 (Values in Cr)
Net Income 210.60
Cash from Operations 156.37
Cash from Investing -89.82
Cash from Financing -60.09
Net change in Cash -49.52
Free Cash Flow 211.23
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
KESORAM INDUSTRIES LTD 13.00 0.00 1.16 403.92 4.40 14.25
MAX FINANCIAL SERV LTD 1653.05 395.47 10.75 57049.20 1274.35 1891.35
MODI RUBBER LTD. 138.85 22.15 0.63 347.68 100.25 167.80
THOMAS COOK (INDIA) LTD. 93.45 17.37 2.48 4395.71 86.15 188.45
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
FGP LTD. 11.50 191.67 4.00 13.68 7.32 13.70
KESORAM INDUSTRIES LTD 13.00 40.63 1.24 403.92 4.40 14.25
MPIL CORPORATION LTD. 460.75 0.00 2.05 26.26 324.70 679.00
MAX FINANCIAL SERV LTD 1653.05 0.00 8.46 57049.20 1274.35 1891.35

CMS INFO SYSTEMS LIMITED shareholding pattern

Holding
39.86%
24.96%
35.16%
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News

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CMS INFO SYSTEMS LIMITED Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
301.05 0.73 redarrow
red-green-graph indicator
5 Bearish
11 Bullish
  • 5 Days 293.80
  • 26 Days 296.60
  • 10 Days 294.50
  • 50 Days 300.50
  • 12 Days 295.00
  • 100 Days 316.20
  • 20 Days 296.10
  • 200 Days 351.70
302.97 PIVOT
First Support 293.73 First Resistance 308.08 Second Support 288.62 Second Resistance 317.32 Third Support 279.38 Third Resistance 322.43
RSI 52.03 ADX 23.18 MACD -1.62 Williams % R -59.86 Commodity Channel Index (CCI) 0.91
Date 2026-05-12 Week 506059.00 Same Day 765281.00 Month 359395.00
1 Year 0.49 3 Year 0.60
Over 1 Month
-2.33% down
Over 1 Year
-32.95% down
Over 3 Months
-5.03% down
Over 3 Years
-1.09% down
Over 6 Months
-15.85% down
Over 5 Years
4.64% down

CMS INFO SYSTEMS LIMITED Corporate Actions

Dividend date Dividend amount Dividend type Record date Instrument type
18 Feb 2026 2.75 Interim 18 Feb 2026 Equity shares
23 May 2025 3.25 Final 23 May 2025 Equity shares
23 May 2025 3.0 Special 23 May 2025 Equity shares
11 Feb 2025 3.25 Interim 11 Feb 2025 Equity shares
28 May 2024 3.25 Final 28 May 2024 Equity shares
06 Feb 2024 2.5 Interim 06 Feb 2024 Equity shares
30 Aug 2023 4.75 Final 30 Aug 2023 Equity shares
13 Sep 2022 1.0 Final 14 Sep 2022 Equity shares
Dividend date Dividend amount Dividend type Record date Instrument type
18 Feb 2026 2.75 Interim 18 Feb 2026 Equity shares
23 May 2025 3.25 Final 23 May 2025 Equity shares
23 May 2025 3.0 Special 23 May 2025 Equity shares
11 Feb 2025 3.25 Interim 11 Feb 2025 Equity shares
28 May 2024 3.25 Final 28 May 2024 Equity shares
06 Feb 2024 2.5 Interim 06 Feb 2024 Equity shares
30 Aug 2023 4.75 Final 30 Aug 2023 Equity shares
13 Sep 2022 1.0 Final 14 Sep 2022 Equity shares

Top Gainers

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Top Losers

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CMS INFO SYSTEMS LIMITED Share Price

CMS Info Systems Limited was initially established as a Private Limited Company with the name Subhiksha Realty Private Limited' on March 26, 2008. The name of the Company was later renamed to CMS Info Systems Private Limited' on December 10, 2008. Thereafter, the Company was converted into a Public Limited Company and the name was changed to CMS Info Systems Limited' on January 27, 2015.

CMS is one of the leading business services company providing logistics and technology solutions to banks, financial institutions, organized retail, and e-commerce companies in India. The Company facilitates financial inclusion in the economy by providing access to formal banking services and facilitating seamless cash-based payments for Indians. The Company is engaged in the business of providing ATM and Cash Management services, supply, installation and maintenance of ATM and cash deposit machines, and also engaged in card trading and personalisation services.

The Company became a subsidiary of Sion Investment Holdings Pte. Limited effective from August 27, 2015 pursuant to acquisition of 100% shares from erstwhile shareholders, namely BLACKSTONE FP CAPITAL PARTNERS (MAURITIUS) V LTD, CMS Computers Limited, Mr. Ramesh Grover and others.

The Company is also supported by the Promoter, Sion Investment Holdings Pte. Limited, which acquired the Company in 2015 and is an affiliate of Baring Private Equity Asia, a private equity firm that has over US$10 billion in total committed capital and investments in over 40 portfolio companies across Asia as of March 31, 2017.

In 2017, a mid-sized cash management company was acquired which helped further increase the ATM network.

ALGO OTC, launched in 2019.The newest business of AIoT Remote Monitoring was launched in 2021.

The Company completed its Initial Public Offer (IPO) of 50,925,925 equity shares by raising money from public aggregating to Rs 1100 Crore through Offer for Sale in December, 2021.

As of March 31, 2021, Company was India's largest cash management company in terms of the number of ATM points and retail pick-up points.

In FY 2022, Company acquired Hemabh Technology, a Remote Monitoring Tech company. Further, it set up a new manufacturing facility at Chennai for manufacturing of Banking Automation Products such as ATM and Kiosk in 2023.

In FY 2025, payments streamlined across multiple modes at 700+ warehouses through Retail 360 Solution. An end-to-end integrated solution developed for cash-on-delivery and UPI payments. Real-time transaction details and instant receipts were made available across all payment modes.

Parent organization Indian Private
NSE symbol CMSINFO
Founded 2008
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Board Of Directors

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Shyamala Gopinath Chairman & Independent Director
Rajiv Kaul Executive Vice Chairman & WTD
Krzysztof Wieslaw Jamroz Non Executive Director
Debashis Dey Company Sec. & Compli. Officer
Sunil Mehta Independent Director
Vishnu Jerome Independent Director
Vidya Krishnan Independent Director
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Frequently Asked Questions

What is the Current Share Price of CMS Info Systems Ltd?

Answer Field

CMS Info Systems Ltd share price is for NSE ₹ 294.35 & for BSE ₹ 294.60 as on May 13 2026 12:07 PM.

What is the Market Cap of CMS Info Systems Ltd Share?

Answer Field

The market cap of CMS Info Systems Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on May 13 2026 12:07 PM.

What is the 52 Week High and Low of CMS Info Systems Ltd?

Answer Field

The 52 Week High and Low of CMS Info Systems Ltd for NSE is ₹ 541.15 and ₹ 261.90 and for BSE is ₹ 540.45 and ₹ 263.50.

What is 1 year return for CMS Info Systems Ltd?

Answer Field

The 1 year returns on the stock has been -32.95%.

What is the P/E Ratio of CMS Info Systems Ltd Share?

Answer Field

As on May 13 2026 12:07 PM the price-to-earnings (PE) ratio for CMS Info Systems Ltd share is 16.48.

What is the PB ratio of CMS Info Systems Ltd Share?

Answer Field

As on May 13 2026 12:07 PM, the price-to-book (PB) ratio for CMS Info Systems Ltd share is 135.03.

How to Buy CMS Info Systems Ltd Share?

Answer Field

You can trade in CMS Info Systems Ltd shares with Bajaj Broking by opening a demat account.

How to Buy CMS Info Systems Ltd Share on Bajaj Broking App?

Answer Field

To buy CMS Info Systems Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “CMS Info Systems Ltd”

• Click on the BUY icon

• Place a buy order specifying the desired quantity of shares.

• Click BUY again to complete the purchase

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STANDARD DISCLAIMER

Investments in the securities market are subject to market risk, read all related documents carefully before investing.

Reg Office: Bajaj Auto Limited Complex, Mumbai –Pune Road Akurdi Pune 411035. Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014. SEBI Registration No.: INZ000218931 | BSE Cash/F&O/CDS (Member ID:6706) | NSE Cash/F&O/CDS (Member ID: 90177) | MCX Member ID: 57680 | DP registration No: IN-DP-418-2019 | CDSL DP No.: 12088600 | NSDL DP No. IN304300 | AMFI Registration No.: ARN –163403. 

Website: Bajaj Broking

RESEARCH DISCLAIMER

Broking services offered by Bajaj Financial Securities Limited | Registered Office: Bajaj Auto Limited Complex , Mumbai –Pune Road Akurdi Pune 411035 | Corporate Office: Bajaj Financial Securities Limited, 1st Floor, Mantri IT Park, Tower B, Unit No 9 & 10, Viman Nagar, Pune, Maharashtra 411014 | CIN: U67120PN2010PLC136026 | Research Analyst SEB I Registration No: INH000010043.

Details of Compliance Officer: 

Mr. Boudhayan Ghosh (For Broking/DP/Research)
Email | Contact No.: 020-4857 4486 

Investment in the securities involves risks, investor should consult his own advisors/consultant to determine the merits and risks of investment.

DISCLOSURES

Disclosures under the provisions of SEBI (Research Analysts) Regulations 2014 (Regulations) 

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities. There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. This research report has been prepared and distributed byBajaj Financial Securities Limited in the capacity of a Research Analyst as per Regulation 22(1) of SEBI (Research Analysts) Regulations 2014 having SEBI Registration No. INH000010043. 

DISCLAIMER

This e-mail/ short message service (SMS) may contain confidential, proprietary or legally privileged information. It should not be used by anyone who is not the original intended recipient. If you have erroneously received this message, please delete it immediately and notify the sender. The recipient acknowledges thatBajaj Financial Securities Limited or its holding and/or associated companies, as the case may be, are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail /SMS transmissions and further acknowledges that any views expressed in this message are those of the individual sender and no binding nature of the message shall be implied or assumed unless the sender does so expressly with due authority of Bajaj Financial Securities Limited. This message is not intended as an offer or publication or solicitation for distribution for subscription of or purchase or sale of any securities or financial instrument(s) to anyone in whose jurisdiction such subscription etc. requires prior local regulatory clearance or is contrary to the local laws of the land in any manner or as an official confirmation of any transaction. Before opening any attachments, please check them for viruses and defects. 

This service / information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose unless otherwise expressly authorised. This service / information is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subjectBajaj Financial Securities Limited and affiliates/ group/holding companies to any registration or licensing requirements within such jurisdiction. The distribution of this document in certain jurisdictions may be restricted by law, and persons in whose possession this document comes, should inform themselves about and observe any such restrictions.  

The data would be provided to the clients on an "as is" and "where-is" basis, without any warranty. Bajaj Financial Securities Limited or its subsidiaries and associated companies shall not be liable for any delay or any other interruption which may occur in providing the data due to any reason including network (Internet) reasons or snags in the system, breakdown of the system or any other equipment, server breakdown, maintenance shutdown, breakdown of communication services or inability of the Bajaj Financial Securities Limited or its subsidiaries and associated companies to provide the data. In no event shall the Bajaj Financial Securities Limited or its holding and associated companies be liable for any damages, including without limitation direct or indirect, special, incidental, or consequential damages, losses or expenses arising in connection with the data provided by the Bajaj Financial Securities Limited or its holding and associated companies.

ADDITIONAL DISCLAIMER FOR U.S. PERSONS

Bajaj Financial Securities Limited is not a registered broker-dealer under the U.S. Securities Exchange Act of 1934, as amended (the"1934 act") and under applicable state laws in the United States. In addition, Bajaj Financial Securities Limited is not a registered investment adviser under the U.S. Investment Advisers Act of 1940, as amended (the "Advisers Act" and together with the 1934 Act, the "Acts), and under applicable state laws in the United States. Accordingly, in the absence of specific exemption under the Acts, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for U.S. persons. This email message does not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services and/or shall not be considered as an advertisement tool. "U.S. Persons" are generally defined as a natural person, residing in the United States or any entity organized or incorporated under the laws of the United States. US Citizens living abroad may also be deemed "US Persons" under certain rules.  

ADDITIONAL DISCLAIMER FOR CANADIAN PERSONS

Bajaj Financial Securities Limited is not a registered adviser or dealer under applicable Canadian securities laws nor has it obtained an exemption from the adviser and/or dealer registration requirements under such law. Accordingly, any brokerage and investment services provided by Bajaj Financial Securities Limited, including the products and services described herein are not available to or intended for Canadian persons.  

This mailer and its respective contents do not constitute an offer or invitation to purchase or subscribe for any securities or solicitation of any investments or investment services.  

DISCLAIMER FOR REPORT

DISCLOSURES UNDER THE PROVISIONS OF SEBI (RESEARCH ANALYSTS) REGULATIONS 2014 (REGULATIONS)

Bajaj Financial Securities Limited ("Bajaj Broking" or "Research Entity") is regulated by the Securities and Exchange Board of India ("SEBI") and is licensed to carry on the business of broking, depository services and related activities.  

This Report has been prepared by Bajaj Financial Securities Limited in the capacity of a Research Analyst having SEBI Registration No. INH000010043 and distributed as per SEBI (Research Analysts) Regulations 2014. This report does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable. This report is provided for assistance only and is 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. Each recipient of this report should make such investigation as it deems necessary to arrive at an independent evaluation of an investment in the securities of companies referred to in this document (including the merits and risks involved), and should consult his own advisors to determine the merits and risks of such investment. The investment discussed or views expressed may not be suitable for all investors.  

This information is strictly confidential and is being furnished to you solely for your information. This information should not be reproduced or redistributed or passed on directly or indirectly in any form to any other person or published, copied, in whole or in part, for any purpose. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction, where such distribution, publication, availability or use would be contrary to law, regulation or which would subject Bajaj Financial Securities Limited and associates / group companies to any registration or licensing requirements within such jurisdiction. The distribution of this report in certain jurisdictions may be restricted by law, and persons in whose possession this report comes, should observe, any such restrictions. The information given in this report is as of the date of this report and there can be no assurance that future results or events will be consistent with this information. This information is subject to change without any prior notice. Bajaj Financial Securities Limited reserves the right to make modifications and alterations to this statement as may be required from time to time. Bajaj Financial Securities Limited or any of its associates / group companies shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Bajaj Financial Securities Limited is committed to providing independent and transparent recommendation to its clients. Neither Bajaj Financial Securities Limited nor any of its associates, group companies, directors, employees, agents or representatives shall be liable for any damages whether direct, indirect, special or consequential including loss of revenue or lost profits that may arise from or in connection with the use of the information. Our proprietary trading and investment businesses may make investment decisions that are inconsistent with the recommendations expressed herein. Past performance is not necessarily a guide to future performance .The disclosures of interest statements incorporated in this report are provided solely to enhance the transparency and should not be treated as endorsement of the views expressed in the report. The information provided in these reports remains, unless otherwise stated, the copyright of Bajaj Financial Securities Limited. All layout, design, original artwork, concepts and other Intellectual Properties, remains the property and copyright of Bajaj Financial Securities Limited and may not be used in any form or for any purpose whatsoever by any party without the express written permission of the copyright holders.  

We offer our research services to clients as well as our prospects. Though this report is disseminated to all the customers simultaneously, not all customers may receive this report at the same time. We will not treat recipients as customers by virtue of their receiving this report.  

Bajaj Financial Securities Limited and its associates, officer, directors, and employees, research analyst (including relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the securities thereof, of company(ies), mentioned herein or (b) be engaged in any other transaction involving such securities and earn brokerage or other compensation or act as a market maker in the financial instruments of the subject company/company(ies) discussed herein or act as advisor or lender/borrower to such company(ies) or have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance. Bajaj Financial Securities Limited may have proprietary long/short position in the above-mentioned scrip(s) and therefore should be considered as interested. The views provided herein are general in nature and do not consider risk appetite or investment objective of any particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with Bajaj Financial Securities Limited.  

Bajaj Financial Securities Limited or its associates may have received compensation from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have managed or co-managed public offering of securities for the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company in the past 12 months. Bajaj Financial Securities Limited or its associates have not received any compensation or other benefits from the Subject Company or third party in connection with the research report. Research analyst or his/her relative or Bajaj Financial Securities Limited’s associates may have financial interest in the subject company. Bajaj Financial Securities Limited, its associates, research analyst and his/her relative may have other potential/material conflict of interest with respect to any recommendation and related information and opinions at the time of publication of research report or at the time of public appearance.  

Research analyst has served as an officer, director or employee of subject Company: No  

Bajaj Financial Securities Limited has financial interest in the subject companies: No  

Bajaj Financial Securities Limited’s Associates may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report.  

Research analyst or his/her relative has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Bajaj Financial Securities Limited has actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of research report: No  

Subject company may have been client during twelve months preceding the date of distribution of the research report.  

There were no instances of non-compliance by Bajaj Financial Securities Limited on any matter related to the capital markets, resulting in significant and material disciplinary action during the last three years. A graph of daily closing prices of the securities is also available at NSE

ANALYST CERTIFICATION

The analyst for this report certifies that all of the views expressed in this report accurately reflect his or her personal views about the subject company or companies and its or their securities, and no part of his or her compensation was, is or will be, directly or indirectly related to specific recommendations or views expressed in this report.  

RISK DISCLOSURE ON DERIVATIVES

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.

SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

BROKERAGE DISCLAIMER

All leveraged intraday positions will be squared off on the same day. There is no restriction on the withdrawal of the unutilised margin amount. Brokerage will not exceed the SEBI prescribed limit. Visit : Pricing

MTF 

As subject to the provisions of SEBI Circular CIR/MRD/DP/54/2017 dated June 13, 2017, and the terms and conditions mentioned in the lights and obligations statement issued by the TM (if applicable).  

US INVESTING

International investment is not supervised by any regulatory body in India. Thus, any claim or dispute relating to such investment or enforcement of any agreement/contract /claim will not be under laws and regulations of the recognized stock exchanges and investor protection under Indian Securities Law. The account opening process will be carried out on Vested platform and Bajaj Financial Securities Limited will not have any role in it.  

IPO 

This should not be construed as soliciting investment. Investors’ discretion is required. Kindly consult your financial expert before investing. No need to issue cheques by investors while subscribing to IPO. Investments in securities markets are subject to market risks, read all the related documents carefully before investing.  

SCREENERS 

Screeners is not Exchange-approved products and any disputes related to the same will not be dealt on the Exchange platform. 

SECURITIES 

Securities quoted are exemplary and not recommendatory. 

IPV 

Account would be open after all procedure relating to IPV and client due diligence is completed. 

IMAGES 

The images used are only for representation purpose. Proper due diligence has been done for the images and the image is not of any artist. The same is captured from royalty free sites.

THIRD PARTY PRODUCT DISCLAIMER

Bajaj Financial Securities Limited is a distributor for Non-Broking Products/Services such as Mutual Funds, Mutual Funds SIP, IPO, Bonds, Insurance, PMS, Global Investing, any other third-party products/services. These are not Exchange Traded Products, and we are only acting as distributors. All disputes with respect to the distribution activity, would not have access to SCORES/ODR, Exchange investor redressal forum or Arbitration mechanism. Please refer to the detailed disclaimer for Third-Party Products.

DISCLOSURE TO CLIENTS REGARDING PAYOUT OF FUNDS

As per SEBI circular no. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/84 dated June 08, 2023, Stockbrokers are required to upstream the entire client funds lying with them to the Clearing Corporation. Based on client’s request the funds’ release request must be placed with the Clearing Corporation. Based on the internal process and cut-off timelines of the Clearing Corporation the funds will be released to the Stock Broker. In view of this new process, as specified by the regulatory and the cut-off time of Clearing Corporation/Banks processing the funds, Bajaj Financial Securities Limited cannot commit the exact time for releasing funds payout to its client. Clients are requested to note that, Bajaj Financial Securities Limited will not be responsible for any inconvenience caused to clients due to delay in release of funds payout, including fines, delayed charges, defaults, etc.