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LEMONTREE

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LEMON TREE HOTELS LTD Share Price Today

LEMON TREE HOTELS LTD is currently trading at ₹109.99, down by ₹0.63 from the previous close. The stock touched an intraday high of ₹111.24 and a low of ₹109.21 during the latest trading session. Over the past one year, LEMON TREE HOTELS LTD has delivered a loss of 19.69%, while the stock has declined 0.53% in the last one month.

LEMON TREE HOTELS LTD performance

Today’s low Today’s high
₹ 109.21 ₹ 111.24
₹ 109.99
52 week low 52 week high
₹ 99.61 ₹ 180.68
₹ 109.99
Open Price ₹ 111.20
Prev. Close ₹ 110.63
Volume (Shares) 3291320.00
Total traded value ₹ 3620.12
Upper Circuit ₹ 132.75
Lower Circuit ₹ 88.51
info

Investment Returns

Over 1 Month -0.53% Over 3 Months 7.38% Over 6 Months -31.39% Over 1 Year -19.69%
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LEMON TREE HOTELS LTD fundamentals


  • Market cap (Cr) 8,713.90
  • P/E Ratio (TTM) 80.84
  • Beta 1.21
  • Book Value / share 17.26
  • Return on equity 8.33%
  • EPS (TTM) 1.55
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 42.29
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  • Market cap (Cr) 8,710.70
  • P/E Ratio (TTM) 80.84
  • Beta 1.18
  • Book Value / share 17.26
  • Return on equity 8.33%
  • EPS (TTM) 1.55
  • Dividend yield 0.00%
  • Net profit/quarter (Cr) 42.29
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LEMON TREE HOTELS LTD Financials

  • Key Results
  • Key Ratios
  • Balance sheet
  • Cash Flow
  • Competition
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Revenue
Net income
Particulars MAR 2026 (Values in Cr)
Revenue 133.62
Operating Expense 74.84
Net Profit 42.29
Net Profit Margin (%) 31.64
Earnings Per Share (EPS) 0.53
EBITDA 69.80
Effective Tax Rate (%) 27.77
Particulars DEC 2025 (Values in Cr)
Revenue 124.62
Operating Expense 73.38
Net Profit 23.16
Net Profit Margin (%) 18.58
Earnings Per Share (EPS) 0.29
EBITDA 44.42
Effective Tax Rate (%) 29.41
Particulars SEP 2025 (Values in Cr)
Revenue 90.90
Operating Expense 59.31
Net Profit 22.56
Net Profit Margin (%) 24.81
Earnings Per Share (EPS) 0.28
EBITDA 43.79
Effective Tax Rate (%) 29.31
Particulars JUN 2025 (Values in Cr)
Revenue 92.89
Operating Expense 64.19
Net Profit 20.47
Net Profit Margin (%) 22.03
Earnings Per Share (EPS) 0.26
EBITDA 41.28
Effective Tax Rate (%) 29.40
Particulars MAR 2025 (Values in Cr)
Revenue 110.64
Operating Expense 60.01
Net Profit 35.96
Net Profit Margin (%) 32.50
Earnings Per Share (EPS) 0.45
EBITDA 63.87
Effective Tax Rate (%) 29.21
Particulars MAR 2026 (Values in Cr)
Revenue 442.04
Operating Expense 271.71
Net Profit 108.47
Net Profit Margin (%) 24.53
Earnings Per Share (EPS) 1.37
EBITDA 199.29
Effective Tax Rate (%) 28.76
Particulars MAR 2025 (Values in Cr)
Revenue 384.63
Operating Expense 243.31
Net Profit 100.49
Net Profit Margin (%) 26.12
Earnings Per Share (EPS) 1.27
EBITDA 198.53
Effective Tax Rate (%) 29.32
Particulars MAR 2024 (Values in Cr)
Revenue 357.38
Operating Expense 233.01
Net Profit 96.93
Net Profit Margin (%) 27.12
Earnings Per Share (EPS) 1.22
EBITDA 201.71
Effective Tax Rate (%) 28.60
Particulars MAR 2023 (Values in Cr)
Revenue 310.50
Operating Expense 199.45
Net Profit 78.73
Net Profit Margin (%) 25.35
Earnings Per Share (EPS) 1.02
EBITDA 172.99
Effective Tax Rate (%) 29.50
Particulars MAR 2022 (Values in Cr)
Revenue 129.19
Operating Expense 154.79
Net Profit -16.06
Net Profit Margin (%) -12.43
Earnings Per Share (EPS) -0.20
EBITDA 42.97
Effective Tax Rate (%) 28.96
Particulars MAR 2025 (Values in Cr)
Book Value / Share 14.69
ROE % 21.61
ROCE % 15.06
Total Debt to Total Equity 2.10
EBITDA Margin 50.29
Particulars MAR 2024 (Values in Cr)
Book Value / Share 12.21
ROE % 16.45
ROCE % 12.62
Total Debt to Total Equity 2.48
EBITDA Margin 50.08
Particulars MAR 2023 (Values in Cr)
Book Value / Share 10.78
ROE % 14.39
ROCE % 11.51
Total Debt to Total Equity 2.55
EBITDA Margin 52.25
Particulars MAR 2022 (Values in Cr)
Book Value / Share 10.51
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 2.45
EBITDA Margin 34.98
Particulars MAR 2021 (Values in Cr)
Book Value / Share 11.61
ROE % 0.00
ROCE % 0.00
Total Debt to Total Equity 2.19
EBITDA Margin 31.49
Particulars MAR 2025 (Values in Cr)
Book Value / Share 15.88
ROE % 8.33
ROCE % 11.23
Total Debt to Total Equity 0.36
EBITDA Margin 53.08
Particulars MAR 2024 (Values in Cr)
Book Value / Share 14.61
ROE % 8.75
ROCE % 11.41
Total Debt to Total Equity 0.46
EBITDA Margin 57.51
Particulars MAR 2023 (Values in Cr)
Book Value / Share 13.38
ROE % 7.69
ROCE % 10.09
Total Debt to Total Equity 0.52
EBITDA Margin 56.89
Particulars MAR 2022 (Values in Cr)
Book Value / Share 12.49
ROE % -1.61
ROCE % 1.66
Total Debt to Total Equity 0.53
EBITDA Margin 35.89
Particulars MAR 2021 (Values in Cr)
Book Value / Share 12.69
ROE % -3.40
ROCE % 0.01
Total Debt to Total Equity 0.52
EBITDA Margin 28.43
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 80.67
Total Assets 4081.78
Total Liabilities 4081.78
Total Equity 1789.60
Share Outstanding 79
Price to Book Ratio 8.09
Return on Assets (%) 4.81
Return on Capital (%) 5.64
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 53.74
Total Assets 4033.04
Total Liabilities 4033.04
Total Equity 1546.42
Share Outstanding 79
Price to Book Ratio 8.95
Return on Assets (%) 3.68
Return on Capital (%) 4.32
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 27.47
Total Assets 3732.31
Total Liabilities 3732.31
Total Equity 1413.42
Share Outstanding 79
Price to Book Ratio 5.78
Return on Assets (%) 3.06
Return on Capital (%) 3.63
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 54.28
Total Assets 3635.03
Total Liabilities 3635.03
Total Equity 1398.87
Share Outstanding 79
Price to Book Ratio 5.08
Return on Assets (%) -2.40
Return on Capital (%) -2.82
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 141.14
Total Assets 3818.52
Total Liabilities 3818.52
Total Equity 1534.96
Share Outstanding 79
Price to Book Ratio 2.92
Return on Assets (%) -3.32
Return on Capital (%) -3.95
Particulars MAR 2025 (Values in Cr)
Cash & Short Term Investments 12.82
Total Assets 1699.50
Total Liabilities 1699.50
Total Equity 1257.14
Share Outstanding 79
Price to Book Ratio 8.09
Return on Assets (%) 5.91
Return on Capital (%) 6.77
Particulars MAR 2024 (Values in Cr)
Cash & Short Term Investments 5.27
Total Assets 1667.06
Total Liabilities 1667.06
Total Equity 1156.59
Share Outstanding 79
Price to Book Ratio 8.95
Return on Assets (%) 5.81
Return on Capital (%) 6.65
Particulars MAR 2023 (Values in Cr)
Cash & Short Term Investments 7.96
Total Assets 1653.40
Total Liabilities 1653.40
Total Equity 1059.24
Share Outstanding 79
Price to Book Ratio 5.78
Return on Assets (%) 4.76
Return on Capital (%) 5.5
Particulars MAR 2022 (Values in Cr)
Cash & Short Term Investments 15.66
Total Assets 1541.06
Total Liabilities 1541.06
Total Equity 988.07
Share Outstanding 79
Price to Book Ratio 5.08
Return on Assets (%) -1.04
Return on Capital (%) -1.21
Particulars MAR 2021 (Values in Cr)
Cash & Short Term Investments 36.41
Total Assets 1598.64
Total Liabilities 1598.64
Total Equity 1003.23
Share Outstanding 79
Price to Book Ratio 2.92
Return on Assets (%) -2.54
Return on Capital (%) -2.96
Particulars MAR 2025 (Values in Cr)
Net Income 296.22
Cash from Operations 591.72
Cash from Investing -127.44
Cash from Financing -392.34
Net change in Cash 21.77
Free Cash Flow 687.51
Particulars MAR 2024 (Values in Cr)
Net Income 215.83
Cash from Operations 501.02
Cash from Investing -396.51
Cash from Financing -58.52
Net change in Cash 9.96
Free Cash Flow 832.19
Particulars MAR 2023 (Values in Cr)
Net Income 178.23
Cash from Operations 405.56
Cash from Investing -283.17
Cash from Financing -132.28
Net change in Cash -30.60
Free Cash Flow 567.61
Particulars MAR 2022 (Values in Cr)
Net Income -144.59
Cash from Operations 136.94
Cash from Investing -45.44
Cash from Financing -163.02
Net change in Cash -73.17
Free Cash Flow 204.49
Particulars MAR 2021 (Values in Cr)
Net Income -218.74
Cash from Operations 31.43
Cash from Investing -65.59
Cash from Financing 111.21
Net change in Cash 86.63
Free Cash Flow 101.87
Particulars MAR 2025 (Values in Cr)
Net Income 142.19
Cash from Operations 195.04
Cash from Investing -49.14
Cash from Financing -114.24
Net change in Cash 7.50
Free Cash Flow 221.77
Particulars MAR 2024 (Values in Cr)
Net Income 135.77
Cash from Operations 221.24
Cash from Investing -84.52
Cash from Financing -118.95
Net change in Cash -4.79
Free Cash Flow 231.34
Particulars MAR 2023 (Values in Cr)
Net Income 111.68
Cash from Operations 156.79
Cash from Investing -138.97
Cash from Financing -11.27
Net change in Cash -7.88
Free Cash Flow 164.99
Particulars MAR 2022 (Values in Cr)
Net Income -22.60
Cash from Operations 78.35
Cash from Investing -20.69
Cash from Financing -74.87
Net change in Cash -20.74
Free Cash Flow 84.63
Particulars MAR 2021 (Values in Cr)
Net Income -53.86
Cash from Operations 2.78
Cash from Investing 35.76
Cash from Financing -16.24
Net change in Cash 24.53
Free Cash Flow 5.14
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
ASIAN HOTELS (NORTH) LIMITED 298.70 474.13 2.51 1273.45 249.90 379.95
EIH LIMITED 309.15 26.86 3.67 19333.13 271.35 434.35
GRAVISS HOSPITALITY LTD. 29.07 0.00 1.06 205.00 25.15 51.30
INDIAN HOTELS CO.LTD. 689.90 57.88 7.52 98202.59 565.25 811.90
Company Name Price P/E P/B Market Cap 52 Week Low 52 Week High
ARUNA HOTELS LTD. 7.84 32.67 -0.47 26.58 6.42 10.29
ASIAN HOTELS (NORTH) LIMITED 298.70 466.72 2.37 1273.45 249.90 379.95
EIH LIMITED 309.15 30.79 4.12 19333.13 271.35 434.35
GRAVISS HOSPITALITY LTD. 29.07 60.56 0.94 205.00 25.15 51.30

LEMON TREE HOTELS LTD shareholding pattern

Holding
40.42%
22.31%
21.59%
15.66%
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News

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LEMON TREE HOTELS LTD Technicals Summary

  • EMA & SMA
  • Resistance and Support
  • Delivery and Volume
  • Beta
  • Price Change Analysis
109.99 -0.57 redarrow
red-green-graph indicator
10 Bearish
6 Bullish
  • 5 Days 108.20
  • 26 Days 111.30
  • 10 Days 109.00
  • 50 Days 113.60
  • 12 Days 109.40
  • 100 Days 120.00
  • 20 Days 110.70
  • 200 Days 129.30
111.35 PIVOT
First Support 108.80 First Resistance 113.18 Second Support 106.97 Second Resistance 115.73 Third Support 104.42 Third Resistance 117.56
RSI 48.46 ADX 32.28 MACD -1.98 Williams % R -61.42 Commodity Channel Index (CCI) 1.72
Date 2026-06-15 Week 2017199.00 Same Day 3883242.00 Month 1503534.00
1 Year 1.21 3 Year 1.11
Over 1 Month
-0.53% down
Over 1 Year
-19.69% down
Over 3 Months
7.38% down
Over 3 Years
6.37% down
Over 6 Months
-31.39% down
Over 5 Years
21.37% down

LEMON TREE HOTELS LTD Corporate Actions

Top Gainers

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Top Losers

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About the Company

Lemon Tree Hotels Limited is an Indian hospitality company that operates hotels in the upper-upscale, upscale, mid-scale and economy segments. Its portfolio includes business hotels, leisure resorts and other hospitality properties in key cities and tourist destinations across India and select international markets. 

The company operates multiple hotel brands catering to different traveller segments. Lemon Tree Hotels Limited is listed on the National Stock Exchange under the ticker LEMONTREE and on the Bombay Stock Exchange under the code 541233. 

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Board Of Directors

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Patanjali Govind Keshwani Chairman & Executive Director
Niten Malhan Vice Chairman / Independent Non Executive Director
Aditya Madhav Keswani Non Executive Director
Willem Albertus Hazeleger Non Executive Director
Paramartha Saikia Independent Non Exe. Director
Freyan Jamshed Desai Independent Non Exe. Director
Smita Anand Independent Non Exe. Director
S N Sahai Independent Non Exe. Director
Praveen Garg Independent Non Exe. Director
Neelendra Singh Managing Director
Kapil Sharma Executive Director & CFO
Pawan Kumar Kumawat Company Sec. & Compli. Officer
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Frequently Asked Questions

What is the Current Share Price of Lemon Tree Hotels Ltd?

Answer Field

Lemon Tree Hotels Ltd share price is for NSE ₹ 109.99 & for BSE ₹ 109.95 as on Jun 16 2026 03:30 PM.

What is the Market Cap of Lemon Tree Hotels Ltd Share?

Answer Field

The market cap of Lemon Tree Hotels Ltd for NSE ₹ 0.00 & for BSE ₹ 0.00 as on Jun 16 2026 03:30 PM.

What is the 52 Week High and Low of Lemon Tree Hotels Ltd?

Answer Field

The 52 Week High and Low of Lemon Tree Hotels Ltd for NSE is ₹ 180.68 and ₹ 99.61 and for BSE is ₹ 180.60 and ₹ 99.70.

What is 1 year return for Lemon Tree Hotels Ltd?

Answer Field

The 1 year returns on the stock has been -19.69%.

What is the P/E Ratio of Lemon Tree Hotels Ltd Share?

Answer Field

As on Jun 16 2026 03:30 PM the price-to-earnings (PE) ratio for Lemon Tree Hotels Ltd share is 80.84.

What is the PB ratio of Lemon Tree Hotels Ltd Share?

Answer Field

As on Jun 16 2026 03:30 PM, the price-to-book (PB) ratio for Lemon Tree Hotels Ltd share is 17.26.

How to Buy Lemon Tree Hotels Ltd Share?

Answer Field

You can trade in Lemon Tree Hotels Ltd shares with Bajaj Broking by opening a demat account.

How to Buy Lemon Tree Hotels Ltd Share on Bajaj Broking App?

Answer Field

To buy Lemon Tree Hotels Ltd shares on the Bajaj Broking app, follow these steps:

• Login to the Bajaj Broking App

• Click on the Search Icon

• Search “Lemon Tree Hotels Ltd”

• Click on the BUY icon

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

• Click BUY again to complete the purchase

Is Lemon Tree Hotels debt free?

Answer Field

No, Lemon Tree Hotels is not debt free. As of September 2023, the company had ₹19.1 billion in debt, which is up from ₹16.8 billion the previous year. However, the company's debt protection metrics have been improving and are currently at a moderate level. In fiscal 2024, the company's debt to EBITDA (excluding lease liabilities) is 3.6, and its interest coverage is 2.2 times. 

 

What is the Share Price of Lemon Tree Hotels Ltd?

Answer Field

The share price of Lemon Tree Hotels Ltd for NSE is ₹ 115.66 and for BSE is ₹ 115.65.

What is the Market Cap of Lemon Tree Hotels Ltd?

Answer Field

The market cap of Lemon Tree Hotels Ltd for NSE is ₹ 91,55.72 Cr. and for BSE is ₹ 91,54.93 Cr. as of now.

What is the 52 Week High and Low of Lemon Tree Hotels Ltd?

Answer Field

The 52 Week High and Low of Lemon Tree Hotels Ltd for NSE is ₹ 158.00 and ₹ 92.50 and for BSE is ₹ 158.05 and ₹ 92.50.

How to Buy Lemon Tree Hotels Ltd share?

Answer Field

You can trade in Lemon Tree Hotels Ltd shares with Bajaj Broking by opening a Demat Account.

What is 1 year return for Lemon Tree Hotels Ltd?

Answer Field

The 1 year returns on the stock has been 25.47%.

What is the P/E ratio of Lemon Tree Share in 2024?

Answer Field

As of August 6, 2024, Lemon Tree Hotels Ltd.'s (LEMONTREE) price-to-earnings (P/E) ratio was 74.5. This is a 9% premium to the median P/E ratio of 71.67 times for its peers. A P/E ratio of 77.46 indicates that the stock price is high compared to the company's earnings and may be overvalued.

What is the PB ratio of Lemon Tree Share in 2024?

Answer Field

As of August 6, 2024, Lemon Tree Hotels Ltd.'s price-to-book (PB) ratio was 11.44. This is an 85% premium to the median range of 4.07 times for its peers.

Who is the CEO of Lemon Tree Hotels?

Answer Field

Patanjali Govind Keswani, also known as Patu Keswani, is the Chairman and Managing Director of Lemon Tree Hotels. He was born on February 9, 1959 in Lucknow and has about 30 years of experience in the hospitality and hotel industry.

When was Lemon Tree Hotels established?

Answer Field

Lemon Tree Hotels was founded in 2002 by Patu Keswani. It opened its first hotel with 49 rooms in May 2004.

How to buy Lemon Tree Share on Bajaj Broking App?

Answer Field

To buy Lemon Tree shares on the Bajaj Broking app, follow these steps:

Login to the Bajaj Broking App

Click on the Search Icon

Search “Lemon Tree”

Click on the BUY icon

Place a buy order specifying the desired quantity of shares.

Click BUY again to complete the purchase

Is Lemon Tree Share a good investment in the hotels category?

Answer Field

Determining if Lemon Tree shares are a good investment depends on various factors including your risk tolerance, investment horizon, and a thorough analysis of the company's financial performance, industry trends, and overall market conditions. It's essential to conduct in-depth research or consult with a financial advisor before making any investment decisions.

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SEBI Registration No.: INZ000218931 | BSE Cash/CDS/F&O (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 Research Analyst SEBI Registration No. INH000010043

Compliance officer:

Mr. Saksham Kaushik 
TEL: 020-48574486
Email for any investor grievances or write to us for DP related matters.

DISCLAIMER

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.