Code of Conduct



Nikhil Khandelwal (“The Individual”) is a SEBI Registered Research Analyst vide Registration Number INH000008525 dated on June 28, 2021,

In accordance to Regulation 24 (2) of the SEBI (Research Analyst) Regulations, 2014, I shall maintain the following the Code of Conduct:


1. Honesty and Good Faith

I shall act honestly and in good faith.

2. Diligence

I shall act with due skill, care and diligence and shall ensure that the research report is prepared after thorough analysis.

3. Conflict of Interest

I shall effectively address conflict of interest which may affect the impartiality of research analysis and research report and shall make appropriate disclosures to address the same.

4. Insider Trading or front running

I shall not engage in insider trading or front running of my own research report.

5. Confidentiality

I shall maintain confidentiality of report till the report is made public.

6. Professional Standard

I am engaged in research analysis and shall observe high professional standard while preparing research report. 

7. Compliance

I shall comply with all regulatory requirements applicable to the conduct of its business activities.

8. Responsibility of senior management

I shall bear primary responsibility of senior management for ensuring the maintenance of appropriate standards of conduct and adherence to proper procedures.



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Nikhil Khandelwal, a seasoned investment professional with over 12 years of experience analyzing global capital markets.

SEBI Registered Research Analyst Details

*Disclaimer: “Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.”*Standard warning: “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.”

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