Ankit Agrawal and his research associates/employees (collectively referred to as “we”, “our”, "us"), have not been debarred/suspended by SEBI or any other regulatory authority for accessing/dealing in securities Market.
Ankit Agrawal and his research associates/employees, may have financial interest in the subject companies.
In case, this document has been provided to you as a sample report or as an advertisement, please note that any of the securities quoted are for illustration only and are not recommendatory.
Ankit Agrawal and his research associates/employees, do not hold beneficial ownership of 1% or more in the subject companies at the end of the month immediately preceding the date of publication of this smallcase.
Note that this smallcase is just a compilation of our high conviction ideas in one place. The assigned weight per idea is just to indicate our confidence level in a given idea, which we refer to as “Conviction Level”. Structuring the smallcase by Conviction Level enables measurability and trackability of the conviction-weighted performance of our recommendations in a consistent and quantifiable manner across time periods. It also indicates relative attractiveness of a given idea vis-a-vis our other ideas. Higher the Conviction Level percentage, higher our confidence level. These Conviction Level percentages should not be construed as portfolio weightages or asset-allocation/capital-allocation advice. Our clients/end-users are free to invest in none or one or many or all of our recommended ideas, in any proportion/weight/allocation as per their choice and as they deem appropriate. Being a research analyst entity, we neither provide any portfolio management service or asset allocation advice, nor do we do financial planning and/or risk profiling. Please consult your investment adviser before making any investment decisions.
Performance Measurement & Reporting: Any performance reported in respect of any of Yellowstone Equity's basket(s) is illustrative in nature and is not to be construed as true or actual performance of any of our associates or clients/end-users. To measure performance in a quantifiable and consistent manner across time periods, we assign Conviction Level per idea at the time of a new recommendation or a change in conviction/recommendation. These Conviction Level percentages are neither portfolio weightages nor asset-allocation/capital-allocation advice to any of its clients/end-users.
Ankit Agrawal and his research associates/employees, do not have any conflict or material conflict of interest with the subject companies at the time of publication.
Ankit Agrawal and his research associates/employees, have not received any compensation or have managed/co-managed public offering of securities of the subject companies during the past twelve months.
Ankit Agrawal and his research associates/employees have not served as an officer, director or employee of the subject companies.
Ankit Agrawal and his research associates/employees have exercised sufficient due diligence in arriving at investment recommendations comprising this smallcase. Any opinions expressed herein are unbiased. However, users of this smallcase should not regard these recommendations as a substitute for the exercise of their own judgment. The investment recommendations comprising this smallcase are meant for general information purposes only and are not to be construed as a solicitation or financial advice or an offer to buy or sell any securities or related financial instruments. Any allocation suggested herein for an individual investment/company/security is just an indication of our conviction level. It should not be construed as a capital allocation recommendation. Each recipient of recommendations comprising this smallcase should make their own investigations as deemed necessary to arrive at an independent evaluation (including the merits and risks involved) of an investment in the securities of the companies referred to in this smallcase. Each recipient should also consult their own advisors to determine the merits and risks of such an investment.
While Ankit Agrawal and his research associates/employees will make every effort to update the recommendations (comprising this smallcase) as and when prudent and necessary and subsequently also notify the end user at the earliest possible via the rebalancing updates through the smallcase platform, note that Ankit Agrawal and his research associates/employees are not under any obligation to update or notify any updates or keep current the recommendations comprising this smallcase.
Past performance is not necessarily indicative of future results. Ankit Agrawal and his research associates/employees will accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of recommendations comprising this smallcase.
The recommendations comprising this smallcase have been derived on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that any such information used is accurate or complete. Ankit Agrawal and his research associates/employees 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 used to derive the recommendations comprising this smallcase.

Third-Party Disclosures

The Research Analyst, Ankit Agrawal, has a contractual arrangement with smallcase Technologies Private Limited (STPL). Under this arrangement, STPL provides technology solutions and related back-end infrastructure and support for back-office related operations & processes. STPL also facilitates transactions in securities from respective broker(s) and/or website/mobile-application of the Research Analyst. The Research Analyst bears no responsibility for aforementioned functions. The Research Analyst is also not responsible for any matters, including but not limited to obtaining the Client’s consent for collecting his/her information, maintaining its privacy and security, technology maintenance, cyber security, any linkages to third party websites or mobile applications, cookies management, etc.

Additional Disclosures

The content and data available on this website and related material, including but not limited to index value, return numbers and rationale are for information and illustration purposes only. Charts and performance numbers are backtested/simulated results calculated via a standard methodology and do not include the impact of transaction fee and other related costs. Past performance does not guarantee future returns.

All information present on this website and related material is to help investors in their decision making process and shall not be considered as a recommendation or solicitation of an investment or investment strategy. Investors are responsible for their investment decisions and are responsible to validate all the information used to make the investment decision. Investor should understand that his/her investment decision is based on personal investment needs and risk tolerance, and information available in this document and related material is one among many other things that should be considered while making an investment decision.

Stock and ETF investments are subject to market risks, read all related documents carefully. Investors should consult their financial advisors if in doubt about whether the product is suitable for them.