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Integrated Capital Services Lt Share Price Update

As of the latest trading session, Integrated Capital Services Lt is trading at ₹4.85, down by ₹-0.25 or -4.90% from its previous close. The stock has moved between ₹4.85 and ₹5.30 today. Over the past year, the stock has delivered a return of 31.44%. In the last month, it has returned 9.67%.

Investment Returns

Over 1 Month 9.67% Over 3 Months 52.23% Over 6 Months 20.85% Over 1 Year 31.44%
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Integrated Capital Services Lt fundamentals


  • Market cap (Cr) [-]
  • P/E Ratio (TTM) [-]
  • Beta [-]
  • Book Value / share [-]
  • Return on equity [-]%
  • EPS (TTM) [-]
  • Dividend yield [-]%
  • Net profit/quarter (Cr) [-]
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  • Market cap (Cr) 17.30
  • P/E Ratio (TTM) -170.00
  • Beta -0.53
  • Book Value / share 2.61
  • Return on equity 0.00%
  • EPS (TTM) 0.00
  • Dividend yield [-]%
  • Net profit/quarter (Cr) 0.02
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Integrated Capital Services Lt Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
info-icon
Revenue
Net income
Particulars DEC 2025 (Values in Cr)
Revenue 0.01
Operating Expense 0.25
Net Profit 0.02
Net Profit Margin (%) 200.00
Earnings Per Share (EPS) 0.01
EBITDA 0.00
Effective Tax Rate (%) 0.00
Particulars SEP 2025 (Values in Cr)
Revenue 0.01
Operating Expense 0.09
Net Profit -0.05
Net Profit Margin (%) -500.00
Earnings Per Share (EPS) -0.01
EBITDA -0.07
Effective Tax Rate (%) 28.57
Particulars JUN 2025 (Values in Cr)
Revenue 0.00
Operating Expense 0.07
Net Profit -0.15
Net Profit Margin (%) 0.00
Earnings Per Share (EPS) 0.23
EBITDA -0.06
Effective Tax Rate (%) -150.00
Particulars MAR 2025 (Values in Cr)
Revenue 0.00
Operating Expense 0.08
Net Profit 0.08
Net Profit Margin (%) 0.00
Earnings Per Share (EPS) 0.02
EBITDA 0.12
Effective Tax Rate (%) 25.00
Particulars DEC 2024 (Values in Cr)
Revenue 0.00
Operating Expense 0.14
Net Profit -0.07
Net Profit Margin (%) 0.00
Earnings Per Share (EPS) -0.02
EBITDA -0.12
Effective Tax Rate (%) 50.00
Particulars MAR 2025 (Values in Cr)
Revenue 0.00
Operating Expense 0.38
Net Profit -0.11
Net Profit Margin (%) 0.00
Earnings Per Share (EPS) -0.03
EBITDA -0.12
Effective Tax Rate (%) 15.38
Particulars MAR 2024 (Values in Cr)
Revenue 0.13
Operating Expense 0.31
Net Profit 0.16
Net Profit Margin (%) 123.07
Earnings Per Share (EPS) 0.29
EBITDA 0.11
Effective Tax Rate (%) -77.77
Particulars MAR 2023 (Values in Cr)
Revenue 0.05
Operating Expense 0.36
Net Profit -0.03
Net Profit Margin (%) -60.00
Earnings Per Share (EPS) -0.01
EBITDA 0.00
Effective Tax Rate (%) 0.00
Particulars MAR 2022 (Values in Cr)
Revenue 0.39
Operating Expense 5.75
Net Profit -4.23
Net Profit Margin (%) -1084.61
Earnings Per Share (EPS) 0.54
EBITDA -4.95
Effective Tax Rate (%) 17.54
Particulars MAR 2021 (Values in Cr)
Revenue 0.10
Operating Expense 0.68
Net Profit 1.07
Net Profit Margin (%) 1070.00
Earnings Per Share (EPS) -1.08
EBITDA 0.75
Effective Tax Rate (%) -94.54
Particulars MAR 2025 (Values in Cr)
Book Value / Share 2.16
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.15
EBITDA Margin 21.21
Particulars MAR 2024 (Values in Cr)
Book Value / Share 2.17
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 16.98
Particulars MAR 2023 (Values in Cr)
Book Value / Share 2.18
ROE % 9.45
ROCE % 8.72
Total Debt to Total Equity 0.04
EBITDA Margin 67.92
Particulars MAR 2022 (Values in Cr)
Book Value / Share 1.97
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.14
EBITDA Margin 21.13
Particulars MAR 2021 (Values in Cr)
Book Value / Share 1.62
ROE % -3.01
ROCE % -2.43
Total Debt to Total Equity 0.29
EBITDA Margin -3.75
Particulars MAR 2025 (Values in Cr)
Book Value / Share 2.40
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.11
EBITDA Margin 0.00
Particulars MAR 2024 (Values in Cr)
Book Value / Share 2.43
ROE % 1.66
ROCE % 0.77
Total Debt to Total Equity 0.00
EBITDA Margin 76.92
Particulars MAR 2023 (Values in Cr)
Book Value / Share 2.14
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 20.00
Particulars MAR 2022 (Values in Cr)
Book Value / Share 2.15
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 0.00
EBITDA Margin 56.41
Particulars MAR 2021 (Values in Cr)
Book Value / Share 1.61
ROE % 2.22
ROCE % -1.99
Total Debt to Total Equity 0.00
EBITDA Margin -150.00
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 1.52
Total Assets 12.17
Total Liabilities 12.17
Total Equity 9.05
Share Outstanding 3
Price to Book Ratio 1.78
Return on Assets (%) -0.05
Return on Capital (%) -0.06
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 1.39
Total Assets 12.63
Total Liabilities 12.63
Total Equity 9.23
Share Outstanding 3
Price to Book Ratio 1.55
Return on Assets (%) -0.18
Return on Capital (%) -0.21
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.49
Total Assets 12.15
Total Liabilities 12.15
Total Equity 8.80
Share Outstanding 3
Price to Book Ratio 1.39
Return on Assets (%) 6.10
Return on Capital (%) 6.83
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 1.60
Total Assets 12.35
Total Liabilities 12.35
Total Equity 8.08
Share Outstanding 3
Price to Book Ratio 2.85
Return on Assets (%) -36.54
Return on Capital (%) -41.12
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 0.68
Total Assets 10.64
Total Liabilities 10.64
Total Equity 5.76
Share Outstanding 3
Price to Book Ratio 1.27
Return on Assets (%) 17.50
Return on Capital (%) 20.12
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 1.10
Total Assets 11.03
Total Liabilities 11.03
Total Equity 8.53
Share Outstanding 3
Price to Book Ratio 1.78
Return on Assets (%) -0.97
Return on Capital (%) -1.02
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 1.16
Total Assets 11.13
Total Liabilities 11.13
Total Equity 8.63
Share Outstanding 3
Price to Book Ratio 1.55
Return on Assets (%) 1.40
Return on Capital (%) 1.47
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 1.18
Total Assets 10.13
Total Liabilities 10.13
Total Equity 7.62
Share Outstanding 3
Price to Book Ratio 1.39
Return on Assets (%) -0.25
Return on Capital (%) -0.27
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 1.27
Total Assets 10.15
Total Liabilities 10.15
Total Equity 7.65
Share Outstanding 3
Price to Book Ratio 2.85
Return on Assets (%) -41.65
Return on Capital (%) -43.61
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 0.40
Total Assets 8.17
Total Liabilities 8.17
Total Equity 5.74
Share Outstanding 3
Price to Book Ratio 1.27
Return on Assets (%) 13.03
Return on Capital (%) 13.91
Particulars MAR 2025 (Values in Cr)
Net Income -0.01
Cash from Operations 1.99
Cash from Investing 0.25
Cash from Financing -2.05
Net change in Cash 0.16
Free Cash Flow 1.99
Particulars MAR 2024 (Values in Cr)
Net Income -0.07
Cash from Operations -0.83
Cash from Investing -0.49
Cash from Financing 0.00
Net change in Cash -1.38
Free Cash Flow -0.32
Particulars MAR 2023 (Values in Cr)
Net Income 0.90
Cash from Operations 0.65
Cash from Investing 0.15
Cash from Financing -0.84
Net change in Cash -0.10
Free Cash Flow 0.66
Particulars MAR 2022 (Values in Cr)
Net Income -5.50
Cash from Operations 2.18
Cash from Investing -0.45
Cash from Financing -0.73
Net change in Cash 0.91
Free Cash Flow 3.27
Particulars MAR 2021 (Values in Cr)
Net Income 1.66
Cash from Operations -2.03
Cash from Investing 3.79
Cash from Financing -1.13
Net change in Cash 0.62
Free Cash Flow -1.99
Particulars MAR 2025 (Values in Cr)
Net Income -0.12
Cash from Operations -0.42
Cash from Investing 0.38
Cash from Financing 0.00
Net change in Cash -0.04
Free Cash Flow -0.42
Particulars MAR 2024 (Values in Cr)
Net Income 0.08
Cash from Operations -0.65
Cash from Investing -0.41
Cash from Financing 0.00
Net change in Cash -1.11
Free Cash Flow -0.65
Particulars MAR 2023 (Values in Cr)
Net Income -0.02
Cash from Operations -0.46
Cash from Investing 0.40
Cash from Financing 0.00
Net change in Cash -0.09
Free Cash Flow -0.46
Particulars MAR 2022 (Values in Cr)
Net Income -5.12
Cash from Operations 1.06
Cash from Investing -0.19
Cash from Financing 0.00
Net change in Cash 0.86
Free Cash Flow 1.07
Particulars MAR 2021 (Values in Cr)
Net Income 0.54
Cash from Operations -5.78
Cash from Investing 6.17
Cash from Financing 0.00
Net change in Cash 0.40
Free Cash Flow -5.76
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
KESORAM INDUSTRIES LTD 12.43 0.00 1.11 386.21 4.58 14.31
Max Financial Services Limited 1625.90 0.00 10.62 56112.21 1365.95 1891.35
MODI RUBBER LTD 128.50 20.49 0.58 321.76 100.25 167.80
THOMAS COOK (INDIA) LTD. 93.25 19.67 2.24 4386.30 86.15 188.45
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
FGP LTD. 11.46 191.00 3.99 13.63 7.32 13.70
KESORAM INDUSTRIES LTD 12.43 38.84 1.18 386.21 4.58 14.31
MPIL CORPORATION LTD. 524.00 0.00 3.25 29.87 324.70 675.00
Max Financial Services Limited 1625.90 0.00 8.31 56112.21 1365.95 1891.35

Integrated Capital Services Lt shareholding pattern

Holding
34.11%
65.88%
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Integrated Capital Services Lt Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
4.85 -4.90 redarrow
red-green-graph indicator
9 Bearish
7 Bullish
  • 5 Days 5.00
  • 26 Days 4.80
  • 10 Days 4.90
  • 50 Days 4.70
  • 12 Days 4.90
  • 100 Days 4.50
  • 20 Days 4.90
  • 200 Days 4.40
5.03 PIVOT
First Support 4.82 First Resistance 5.30 Second Support 4.55 Second Resistance 5.51 Third Support 4.34 Third Resistance 5.78
RSI 59.53 ADX 26.21 MACD 0.10 Williams % R -21.74 Commodity Channel Index (CCI) 68.26
Date 2026-05-21 Week 2285.00 Same Day 5529.00 Month 2921.00
1 Year -0.53 3 Year 0.00
Over 1 Month
9.67% down
Over 1 Year
31.44% down
Over 3 Months
52.23% down
Over 3 Years
18.30% down
Over 6 Months
20.85% down
Over 5 Years
7.09% down

Integrated Capital Services Lt Corporate Actions

Top Gainers

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Top Losers

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Integrated Capital Services Lt Share Price

Integrated Capital Services Limited (ICSL) was incorporated on 3rd February 1993. The Company is rendering Corporate Advisory & Consulting, Expert Services in Turnaround & Restructuring, Business Combinations, Takeovers, Mergers & Amalgamations and Accounting Services. The Company was earlier into Business Advisory and Consulting Services. ICSL is a member of Indo German Chambers of Commerce (IGCC), BTG Global Advisory and The Institute of Internal Auditors.

At present, the business is managed by the Board of Directors. The Board is supported by an expert team of professionals recognized for their integrity, competence and practical experience.

During the year 2015, the Company redeemed 1,05,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100/- each, at par, upon the holder of such shares exercising options to put the same for redemption.

The Company applied to the Bombay Stock Exchange (BSE) for listing of equity shares for trading thereat. BSE has granted 'In Principle' approval for listing of the Company's equity shares on BSE vide its letter dated March 20, 2015.

During the year 2015, the Company availed the membership of (i) The Institute of Internal Auditors (IIA) and (ii) BTG Global Advisory Limited (a Company incorporated in England and Wales).

The Company's equity shares were listed on Delhi Exchange Ltd., Jaipur Stock Exchange Ltd. and Madras Stock Exchange. The Securities Exchange Board of India (SEBI) had withdrawn recognition of Delhi Stock Exchange Ltd. on November 19, 2014 and allowed Jaipur Stock Exchange Ltd. and Madras Stock Exchange Ltd. to exit as a Stock Exchange on March 23, 2015 and May 14, 2015 in terms of Clause 8 of the Exit Circular, 2012.

During the year 2015-16, the equity shares of the Company were approved for trading at the Bombay Stock Exchange vide its communication dated 25 May, 2015, and were traded at the Exchange with effect from even date.During the year 2016, the Company was admitted as member of The Institute of Internal Auditors (IIA).

During the year 2016, the Company redeemed 30,00,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising put option for redemption.During the year 2016-17, the Company redeemed 90,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising options to put the same for redemption.

A Scheme of Arrangement in the nature of Merger of Deora Associates Private Limited, a 69.27% holding company of the Company, was approved by Board with Appointed Date October 1, 2016, which was filed with Bombay Stock Exchange for their perusal and seeking No Objection' to the same. The rationales of the Scheme of Merger are:

(i) To restructure shareholding pattern of the Company, which is currently held by Deora Associates Private Limited as one of the promoters. (ii) To eliminate a layer of promoter investment and streamline promoter holding.(iii) To vest shareholding of the Company in name of promoters of Deora Associates Private Limited.

The Company executed a Preferred Business Affiliate Agreement with Aurum Equity Partners LLP on September 24, 2017. Aurum is an Indian Investment Banking Firm having core competency in areas of Mergers and Acquisitions, Fund Raising, Strategic Corporate Advisory, Restructurings and Insolvency Resolution across a wide range of sectors including Industrials, Technology & Media, Consumer Food & Retail, Real Estate & Hospitality, Supply Chain & Logistics, Education, Healthcare and Pharmaceuticals and BFSI.

In FY17-18, the Company promoted a wholly owned subsidiary, BTG IP Services Private Limited, to exclusively provide service and advise to clients under the provisions of the Insolvency and Bankruptcy Code, 2016.

During the year 2017-18, the Company redeemed 45,000 7% Cumulative, Non Convertible and Redeemable Preference Shares of Rs. 100 each, at par, upon the holder of such shares exercising options to put the same for redemption.

The main objects to be perused by the Company were amended in September 2018 to pursue the objective of carrying on business of, amongst others, providing advisory services on distressed assets, insolvency and bankruptcy and providing support services to Insolvency Professionals.

During the year 2018-19, the Holding Company, Deora Associates Private Limited was merged into the Company. In terms of Scheme of Merger approved by the Hon'ble National Company Law Tribunal, New Delhi vide order dated September 26, 2018, 2,50,41,000 Equity Shares of Re.1 each held by Deora Associates Private Limited (Since Dissolved), in the Company were cancelled and 2,44,75,000 fully paid equity shares of the Company were issued to the shareholders of Deora Associates Private Limited (Since Dissolved) in the share exchange ratio provided in the aforesaid scheme. The Scheme of Merger of DAPL (since dissolved) with the Company became effective from the Appointed Date, i.e. October 01, 2016.

During the year 2023, pursuant to de-recognition order received from Insolvency Bankruptcy Board of India (IBBI), the company changed its object to provide management consultancy related services and thereafter changed its name to ICSL Consulting Private Limited.

Parent organization Indian Private
NSE symbol [-]
Founded 1993
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Board Of Directors

Left Arrow
Sajeve Deora Non Executive Director
Kalpana Shukla Non-Exec & Non-Independent Dir
Vijay Kumar Narang Independent Non Exe. Director
Gyaneshwar Sahai Independent Non Exe. Director
Vartika Jain Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Integrated Capital Services Ltd?

Answer Field

Integrated Capital Services Ltd share price is for NSE ₹ 0.00 & for BSE ₹ 4.85 as on May 22 2026 03:21 PM.

What is the Market Cap of Integrated Capital Services Ltd Share?

Answer Field

The market cap of Integrated Capital Services Ltd for NSE ₹ 0.00 & for BSE ₹ 17.30 as on May 22 2026 03:21 PM.

What is the 52 Week High and Low of Integrated Capital Services Ltd?

Answer Field

The 52 Week High and Low of Integrated Capital Services Ltd for NSE is ₹ 0.00 and ₹ 0.00 and for BSE is ₹ 5.62 and ₹ 3.21.

What is 1 year return for Integrated Capital Services Ltd?

Answer Field

The 1 year returns on the stock has been 31.44%.

What is the P/E Ratio of Integrated Capital Services Ltd Share?

Answer Field

As on May 22 2026 03:21 PM the price-to-earnings (PE) ratio for Integrated Capital Services Ltd share is -170.00.

What is the PB ratio of Integrated Capital Services Ltd Share?

Answer Field

As on May 22 2026 03:21 PM, the price-to-book (PB) ratio for Integrated Capital Services Ltd share is 2.61.

How to Buy Integrated Capital Services Ltd Share?

Answer Field

You can trade in Integrated Capital Services Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Integrated Capital Services Ltd Share on Bajaj Broking App?

Answer Field

To buy Integrated Capital Services Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Integrated Capital Services 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.