Mandatory disclosures under SEBI (RA) Regulations, 2014
Disclosures
Updated quarterly. Last updated: at the start of each quarter.
1. Source of compensation
Trading Profit’s sole source of revenue is subscription fees paid by clients for our research services. We do not receive, and have never received, any payment, commission, fee, gift or other form of consideration from:
- Issuers of securities we may research or recommend
- Investment bankers, merchant bankers or underwriters
- Brokers or sub-brokers
- Asset Management Companies (AMCs) or Portfolio Management Service (PMS) providers
- Any third party in exchange for research coverage or favourable views
2. Holdings & positions
Trading Profit, its directors, employees and analysts may, from time to time, hold positions in securities that appear in our research. Such positions are disclosed at the time of publication in the relevant research note.
Internal policy requires: (a) no proprietary trading against published research within 30 days of publication; (b) full disclosure of any personal holding above 1% of any security mentioned; (c) no front-running of research recommendations.
3. Material relationships
We declare that Trading Profit, its associates and analysts have no material business relationship with any issuer of securities we recommend, including but not limited to:
- No corporate finance or investment banking mandates
- No advisory or consulting engagements
- No market-making activity
- No directorships or employment with any covered issuer
Should any such relationship arise in future, it will be disclosed prominently in the relevant research and in this section.
4. Frequency of recommendation updates
Closed recommendations are not revised. Open recommendations may be updated when: (a) the stop-loss or target is hit; (b) the underlying thesis is materially affected by new information; (c) a quarterly review of the position is published. Investors are responsible for monitoring open positions and acting on updates.
5. Distribution of recommendations (last 12 months)
This data will be populated once we have 12 months of published research. SEBI requires disclosure in this format:
| Rating | % of total recommendations (12M) | % in companies where we have a relationship |
|---|---|---|
| Buy | To be populated | 0% |
| Hold | To be populated | 0% |
| Sell | To be populated | 0% |
6. Investor education
We strongly recommend investors verify all of the above directly: SEBI maintains a public registry of all Research Analysts at SEBI Intermediaries Recognised. Always confirm the SEBI Registration Number of any RA before subscribing.
7. Standard disclaimer
Standard disclaimer: Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Investments in the securities markets are subject to market risk. Read all related documents carefully before investing.