1. General Disclaimer
8848 Research is the trade name under which Lokhandwala Raj Zahir, a SEBI-registered Research Analyst (Registration No. INH000025452), provides research services. The content on this website and in the members' area — research reports, investment notes, model portfolios and any commentary — is prepared for the general information of subscribers and is not tailored to the investment objectives, financial situation or needs of any specific person. It is not investment advice, not a solicitation or offer to buy or sell any security, and not a substitute for independent professional advice.
Investment in securities market is subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, enlistment as a Research Analyst with RAASB (BSE Limited) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
The research is based on publicly available information and data believed to be reliable, but neither its accuracy nor completeness is guaranteed, and it may change without notice. Opinions are the RA's as of the date of each report. The RA accepts no liability for any loss arising from the use of this material; there is no recourse to claim any losses incurred on investments made based on the recommendations.
2. No Trade Execution & No Fund Handling
The RA cannot execute or carry out any trade (purchase/sell transaction) on behalf of the client. Do not permit the RA, or anyone claiming to act for 8848 Research, to execute trades on your behalf, and never transfer funds for investment to the RA. Never share trading, demat or bank login credentials or OTPs. 8848 Research has no associates, sub-brokers, agents or franchisees authorised to collect fees or give recommendations on its behalf.
3. Disclosures under Regulation 19 of the SEBI (Research Analysts) Regulations, 2014
| Disclosure Item | Disclosure Particulars |
|---|---|
| Financial interest in the subject company | The RA or his relatives may or may not hold a financial interest in securities covered. Any holding is disclosed in each report at the time of publication. |
| Actual/beneficial ownership of 1% or more | Disclosed in each report, as at the end of the month preceding publication. |
| Other material conflict of interest | None |
| Compensation from the subject company in the past 12 months | None. The RA receives no compensation of any kind from any company covered. |
| Managed or co-managed a public offering for the subject company | No |
| Investment banking, merchant banking or brokerage services | None |
| Products or services other than investment banking | None |
| Third-party compensation in connection with the research report | None |
| Officer, director or employee of the subject company | No |
| Market making in the securities of the subject company | No |
| Disciplinary history | No disciplinary action has been taken against the RA by SEBI or any other regulatory authority. |
| Other business activities | None |
4. Personal Trading Policy
To avoid front-running and conflicts, the RA and his immediate relatives do not trade in a security in a direction contrary to a recommendation, and do not deal in a covered security for 30 days before and 5 days after publication of a report on it, except as permitted by Regulation 16. Holdings in model-portfolio constituents are disclosed in the factsheet.
5. Model Portfolio Disclosures
Model portfolios are research reports recommending weightages for a basket of securities (Reg. 2(1)(wa)). They are not managed accounts; the client holds securities in his/her own demat account and makes every transaction himself/herself. Performance shown is that of the model, benchmarked to a named index, computed as described in the factsheet, and will differ from any individual's realised returns because of timing, prices, costs and taxes.
Performance figures: No performance is displayed prior to validation by the SEBI-specified agency.
6. Advertisement & Promotional Content
All content on 8848invest.com, social media handles of 8848 Invest and any email or message from the RA is subject to the SEBI Advertisement Code for Research Analysts (circular dated 5 April 2023). 8848 Research does not make any claim, express or implied, of guaranteed, assured or risk-free returns; does not use superlatives such as "best", "No. 1" or "top research analyst"; and does not present selected past recommendations as representative of overall performance. Where any security is named as an illustration: "The securities quoted are for illustration only and are not recommendatory."
7. Use of Artificial Intelligence
The RA uses AI tools (large language models) to assist with data collection, transcription of earnings calls, summarisation of public filings and drafting; all analysis, conclusions and recommendations are the RA's own and are reviewed by the RA before publication. The RA is solely responsible for the security, confidentiality and integrity of client data and for research services based on the output of AI tools.
8. Impersonation Warning
8848 Invest communicates only from the @8848invest.com email domain, this website and the verified social media handles listed on the Regulatory Disclosures page. It does not run Telegram/WhatsApp tip groups and does not call clients to recommend trades. Report any impersonation to admin@8848invest.com and to SEBI.