Disclaimer And Disclosure
PHD Capital Private Limited is a SEBI-registered corporate Research Analyst, with SEBI Registration Number: INH000016126, and License Validity May 08, 2024 – Perpetual. We are also AMFI registered as a corporate Mutual Fund Distributor with License Number: ARN-301724, valid until July 16, 2027. We are also APMI registered as a corporate PMS Distributor with License Number: APRN00865, valid from 04/09/2024 till 03/09/2027. Our CIN Number is U67190WB2020PTC237908, and GST Number is 19AALCP2303H1ZH.
PHD Capital Private Limited, as a Mutual Fund Distributor, operates a segregated department for distributing mutual fund products. This department maintains an arm’s length distance from the Research team, and all its activities are segregated from Research activities. The Research desk operates independently, without any conflict of interest with other departments in the company, considering every dimension.
PHD Capital Private Limited, as a PMS Distributor, operates a segregated department for distributing PMS products. This department maintains an arm’s length distance from the Research team, and all its activities are segregated from Research activities. The Research desk operates independently, without any conflict of interest with other departments in the company, considering every dimension.
Note :- PHD Capital Private Limited with BSE Registration Number AP01056401142908, NSE Registration Number AP0387085553 was working as a sub-broker under Prabhudas Leeladhar Private Limited, and therefore had a separate dealing desk. The registration of BSE was surrendered (Ref No.: MOD/DS/JD/NP/10252024113529) on 08.10.2024 and the registration of NSE was surrendered (Ref.No.NSE/MEM/05977/PHD C/387/Nov-24/76590) on 04.10.2024. Therefore, PHD Capital Private Limited has stopped dealing in securities from the above mentioned date.
SEBI Registration and NISM Certification Do Not Guarantee the Performance of The Intermediary or Assure Returns to Investors. Our Research Should Not Be Interpreted as An Advertisement or Professional Advice. Investors Are Advised to Consider All Relevant Risk Factors, Including Their Financial Condition and Risk-Return Profile, And Seek Professional Guidance Before Making Any Investment Decisions. The Research Report and Content Provided by PHD Capital Private Limited on This Page Do Not Constitute an Offer to Buy, Sell, Or Subscribe to Any Securities.
Any views and/or opinions stated are personal. Please do thorough research or consult your financial manager/advisor before making an investment.
Research Disclosure
Research Disclaimer & Disclosures
PHD capital Private Limited is registered as a corporate Research Analyst under SEBI (Research Analyst) Regulations, 2014., also Registered with AMFI as a Corporate Mutual Fund Distributor. Our businesses include distribution of financial products like mutual funds and providing Financial Education.
We hereby declare that our activities were neither suspended nor we have defaulted with any stock exchange authority with whom we are registered in last five years. We have not been debarred from doing business by SEBI or any other authorities; nor has our certificate of registration been cancelled by SEBI at any point of time.
We offer our research services to clients as well as our prospects.
This document is not for public distribution and has been furnished to you solely for your information and must not be reproduced or redistributed to any other person. Persons into whose possession this document may come are required to observe these restrictions.
This material is for the personal information of the authorized recipient, and we are not soliciting any action based upon it. This report is not to be construed as an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. It is for the general information of clients of PHD capital Private Limited. It does not constitute a personal recommendation or consider the particular investment objectives, financial situations, or needs of individual clients.
We have reviewed the report, and in so far as it includes current or historical information, it is believed to be reliable though its accuracy or completeness cannot be guaranteed. Neither PHD capital Private Limited, nor any person connected with it, accepts any liability arising from the use of this document. The recipients of this material should rely on their own investigations and take their own professional advice. Price and value of the investments referred to in this material may go up or down. Past performance is not a guide for future performance. Certain transactions -including those involving futures, options and other derivatives as well as non-investment grade securities – involve substantial risk and are not suitable for all investors. Reports based on technical analysis centres on studying charts of a stock’s price movement and trading volume, as opposed to focusing on a company’s fundamentals and as such, may not match with a report on a company’s fundamentals.
Opinions expressed are our current opinions as of the date appearing on this material only. While we endeavour to update on a reasonable basis the information discussed in this material, there may be regulatory, compliance or other reasons that prevent us from doing so. Prospective investors and others are cautioned that any forward-looking statements are not predictions and may be subject to change without notice. Our other businesses may make investment decisions that are inconsistent with the recommendations expressed herein.
We, along with our affiliates, associates, officers, directors, employees, and research analysts (including their relatives) worldwide, may: (a) from time to time, hold long or short positions in, and buy or sell the securities of, the companies mentioned herein, or (b) be engaged in transactions involving such securities, earning brokerage or other compensation, or act as market makers in the financial instruments of the subject company or companies discussed herein. We may also act as advisors, lenders, or borrowers to such companies, or have other potential or material conflicts of interest with respect to any recommendation, information, or opinions presented at the time of publication of the Research Report or during public appearances.
PHD Capital Private Limited may have proprietary long or short positions in the mentioned securities and, therefore, may be considered interested. The views provided herein are general in nature and do not consider the risk appetite or investment objectives of any particular investor. Readers are advised to seek independent professional advice before making any investment decisions. This should not be construed as an invitation or solicitation to do business with PHD Capital Private Limited. PHD Capital Private Limited does not offer any promise or assurance of a favourable view for any particular industry, sector, or business group. Investors are encouraged to consider all risk factors, including their financial condition and suitability to their risk-return profile, and to seek professional advice before investing.
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.
No part of this material may be duplicated in any form and/or redistributed without PHD Capital Private Limited prior written consent.
Ratings
Definitions of ratings:
CMP (Current Market Price): The live trading price of a stock at the time of recommendation.
Entry Price: The specific price at which a stock is recommended to be bought or Sold.
Buy: A recommendation to purchase a stock for making profit expecting its price to rise.
Sell: A recommendation to Sell a stock for making profit expecting its price to fall.
Hold: A neutral recommendation to neither buy nor sell, suggesting the stock will perform in line with the market and keeping the position intact.
Book Partially: Exiting a portion of your Position to lock in some profit, while keeping the rest.
Exit: The recommendation to cut the whole position either to take profit or cut losses.
Book Loss: Exiting the whole position to book the accumulated loss.
Book Full Profit(Book Profit): Exiting the whole position to take all the accumulated gains.
Revise Stop Loss (SL): Adjusting pre-set loss-limiting price.
Trailing Stop Loss: Adjusting pre-set loss-limiting price, usually to protect profits as the
stock price increases.
Revise Target: Adjusting the expected future price of a stock based on new information or price action.
1st/ 2nd/ 3rd targets: Staggered price goals for a stock, suggesting points at which to partially book profits.
ROI (Return on Investment): A percentage showing how much profit has been made compared to the initial investment
Research Team
|
Name of the Individual
|
Department / Designation
|
Email-ID
|
Contact Number
|
NISM Certificate
|
Certificate Valid Upto
|
|---|---|---|---|---|---|
|
Pradip Halder |
Research Analyst |
ceo@phdcapital.in |
032-1629-7100 |
2430189345 |
27th May, 2027 |
|
Pritam Sardar |
Research Head |
pritam@phdcapital.in |
032-1629-7101 |
2310405497 |
11th Jan, 2027 |
Details of Associates
Research Analyst has served as an officer, director or employee of subject company(ies): No
We or our associates may have received compensation from the subject company(ies) in the past 12 months
We or our associates have managed or co-managed public offering of securities for the subject company(ies) in the past 12 months: No
We or our associates may have received compensation for investment banking or merchant banking or brokerage services from the subject company(ies) in the past 12 months. We or our associates may have received any compensation for products or services other than investment banking or merchant banking or brokerage services from the subject company(ies) in the past 12 months. We or our associates may have received compensation or other benefits from the subject company(ies) or third party in connection with the research report. Our associates may have financial interest in the subject company(ies).
Research Analyst or his/her relative’s financial interest in the subject company(ies): No
PHD Capital Private Limited has financial interest in the subject company(ies) at the end of the week immediately preceding the date of publication of Research Report: No
Our associates may have actual/beneficial ownership of 1% or more securities of the subject company(ies) at the end of the month immediately preceding the date of publication of Research Report
Research analyst or his/her relatives, have actual/beneficial ownership of 1% or more securities of the subject company(ies) at the end of the month immediately preceding the date of publication of Research Report or date of the public appearance: No.
PHD Capital Private Limited has actual/beneficial ownership of 1% or more securities of the subject company(ies) at the end of the month immediately preceding the date of publication of Research Report or date of the public appearance: No
By referring to any particular sector, PHD Capital Private Limited does not provide any promise or assurance of favourable view for a particular industry or sector or business group in any manner. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and take professional advice before investing. Such representations are not indicative of future results.
Subject company(ies) may have been client during twelve months preceding the date of distribution of the research report.
Our research should not be considered as an advertisement or advice, professional or otherwise. The investor is requested to take into consideration all the risk factors including their financial condition, suitability to risk return profile and the like and take professional advice before investing.
Investments in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
Derivatives are a sophisticated investment device. The investor is requested to take into consideration all the risk factors before actually trading in derivative contracts.
Compliance Officer Details:
Compliance Officer: Mr. Pradip Halder ( CEO & FOUNDER )
Email: compliance@phdcapital.in , Telephone No.: 032-1629-7100
Mutual Fund Distribution
PHD Capital Private Limited is a SEBI-registered corporate Research Analyst, with SEBI Registration Number: INH000016126, and License Validity May 08, 2024 – Perpetual. We are also AMFI registered as a corporate Mutual Fund Distributor with License Number: ARN-301724, valid until July 16, 2027. We are also APMI registered as a corporate PMS Distributor with License Number: APRN00865, Valid From 04/09/2024 Till 03/09/2027. Our CIN Number is U67190WB2020PTC237908, and GST Number is 19AALCP2303H1ZH.
Our registered office is located at: Sadpur-Maslandpur, Habra-1, Maslandapur, Basirhat Road, 24 Parganas North, Maslandapur, BARASAT, WEST BENGAL, 743289.
Terms and Conditions:
In line with SEBI Circular for Mutual Funds (MF) dated August 22, 2011, the Client who places the order for purchasing MF with PHD Capital Private Limited (MF) under ‘Execution Only’ category agrees and confirms as under;
- That I/we has read and understood the terms, conditions, details, rules and regulations governing the scheme and the content of the Scheme Information Document (SID) / Statement of Additional information (SAI), Key Information Memorandum (KIM) etc. of the MF scheme.
- That the Order for the purchase /sale of units of MF scheme(s) shall be on the basis of his/its own analysis and under the category “execution only”.
- That PHD CAPITAL PRIVATE LIMITED is entitled to receive Commission for the Schemes of various Mutual Funds as distributor from various Asset Management Companies.
- That (For NRIs only) he/she/it is a Non-Resident Indian or origin and that has remitted the funds from abroad through approved banking channels or from funds in his/her/its Non-Resident External / Non-Resident Ordinary / FCNR account.
- That he/she/it shall abide by the terms and conditions, circulars / notices issued thereunder by the Exchanges/AMC and shall ensure compliance with the requirements as may be specified from time to time by Securities and Exchange Board of India and Association of Mutual Funds of India (AMFI) and any other laws in force.
- That he/she/it has read and understood the risks involved in investing in Mutual Fund Schemes.
- That he/she/it shall be wholly responsible for all his/her/its investment decisions and instruction.
- That the details of AMC’s for whom PHD CAPITAL PRIVATE LIMITED is a distributor are given below
I/We confirm that details provided by me/us are true and correct. I/We has/have invested or desirous to invest in the Scheme (s) Mutual Fund under Direct plan and agree to comply with the terms and conditions of the Scheme related documents.
I/We hereby give you my/our consent to share/provide the transactions data feed/portfolio holdings/NAV etc. in respect of my/our investments under Direct Plan of all Schemes managed by you, to the above-mentioned R/A.
Empanneled AMCs
Axis Mutual Fund, || Aditya Birla Sun Life Mutual Fund, || Bnp Paribas Mutual Fund, || Canara Robeco Mutual Fund, || Dhfl Pramerica Mutual Fund, || Dsp Blackrock Mutual Fund, || Franklin Templeton Mutual Fund, || Hdfc Mutual Fund Hsbc Mutual Fund, || Icici Prudential Mutual Fund, || Idfc Mutual Fund, || Jm Financial Mutual Fund, || Kotak Mahindra Mutual Fund, || L&T Investment Mutual Fund, || Lic Mutual Fund, || Principal Mutual Fund, || Reliance Mutual Fund, || Religare Invesco Mutual Fund, || Sbi Mutual Fund, || Sundaram Mutual Fund, || Tata Mutual Fund, || Uti Mutual Fund, || Mirae Asset Global Investments (India) Pvt. Ltd
PMS Distribution
PHD Capital Private Limited is a SEBI-registered corporate Research Analyst, with SEBI Registration Number: INH000016126, and License Validity May 08, 2024 – Perpetual. We are also AMFI registered as a corporate Mutual Fund Distributor with License Number: ARN-301724, valid until July 16, 2027. We are also APMI registered as a corporate PMS Distributor with License Number: APRN00865, Valid From 04/09/2024 Till 03/09/2027. Our CIN Number is U67190WB2020PTC237908, and GST Number is 19AALCP2303H1ZH.
PHD Capital Private Limited is Distributor of Portfolio Management Services offered by Prabhudas Lilladhar Private Limited (Portfolio Manager).
PHD Capital Private Limited is merely acting as a facilitator by referring you to Portfolio Manager upon your request, and the assistance provided by PHD Capital Private Limited shall not be considered as an advice/recommendation/ representation by PHD Capital Private Limited to avail Portfolio Management Services. Investment through Portfolio Management Services is subject to risks and there is no guarantee, implied or otherwise, that the general objectives of the product or any other specific performance targets will be achieved. Certain investments can be subject to sudden and large falls in value that could equal or exceed the amount invested. Please read the Disclosure Document relating to PMS Services carefully and evaluate your suitability before investing. Your decision to avail of Portfolio Management Services shall be at your own volition and risk.
Except to the extent required by current laws and/or regulations, PHD Capital Private Limited does not make any warranty, express or implied, including the warranties of merchantability and fitness for a particular purpose nor assumes any legal liability or responsibility for the accuracy, completeness, reliability or usefulness of any information contained on this Portal. Past performance is not necessarily a guide to future performance.
Use of Statements/opinions/recommendations, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements. PHD Capital Private Limited including its affiliates, and any of its officers directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, exemplary, consequential, as also any loss of profit in any way arising from the use of services of Portfolio Manager in any manner whatsoever.
The names of the Portfolio Strategy do not indicate its future prospects and returns in any manner. The data placed herein are extracted from the factsheet, disclosure documents and other material shared by Portfolio Manager. PHD Capital Private Limited have taken due care while compiling and posting this data, however, in no event PHD Capital Private Limited shall be liable for any errors and/or omissions in the information or the consequences of the use of information as posted on this Portal.
PHD Capital Private Limited may tie-up with one or more portfolio managers registered with SEBI offering PMS services having different/ diversified investment objectives from time to time. As a distributor, PHD Capital Private Limited does not assume any responsibility or liability arising from the sale of any product and the investor’s contract for purchase/sale is directly with the product provider. PHD Capital Private Limited may earn a distribution/ referral fee(s) from the product provider on completion of sale of such products.
The provision of any service or products provided by Portfolio Manager through PHD Capital Private Limited portal shall be expressly subject to the particular terms and conditions as contained in the contract for the supply of such services (Portfolio Manager- Client Agreement). Any warranties or representations made in relation to the provision of PMS Services shall be limited to those incorporated the contract only.
Risk Disclaimer
- The information and views in this website & all the services we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.
- Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and on sources that we consider reliable. We, however, do not vouch for the consistency or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred due to it & take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations above.
- Analyst or any person related to PHD Capital Private Limited might be holding positions in the stocks recommended.
- Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Reports or Any Information Provided by us to/with anyone (through any medium) which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.
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- The information on this website is updated from time to time. PHD Capital Private Limited however excludes any warranties (whether expressed or implied), as to the quality, consistency, efficacy, completeness, performance, fitness or any of the contents of the website, including (but not limited) to any comments, feedback and advertisements contained within the Site.
- This website contains material in the form of inputs submitted by users and PHD Capital Private Limited accepts no responsibility for the content or consistency of such content nor does PHD Capital Private Limited make any representations by virtue of the contents of this website in respect of the existence or availability of any goods and services advertised in the contributory sections. PHD Capital Private Limited makes no warranty that the contents of the website are free from infection by viruses or anything else which has contaminating or destructive properties and shall have no liability in respect thereof.
- Part of this website may contains advertising and other material submitted to us by third parties. Kindly note that those advertisers are responsible for ensuring that material submitted for inclusion on the website complies with all legal requirements. Although acceptance of advertisements on the website is subject to our terms and conditions which are available on request, we do not accept liability in respect of any advertisements.
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- PHD Capital Private Limited hereby expressly disclaims any implied warranties imputed by the laws of any jurisdiction. We consider ourselves and intend to be subject to the jurisdiction only of the courts of Kolkata in India. If you don’t agree with any of our disclaimers above please do not read the material on any of our pages. Although the access to users outside India is not denied, PHD Capital Private Limited shall have no legal liabilities whatsoever in any laws of any jurisdiction other than India. We reserve the right to make changes to our site and these disclaimers, terms, and conditions at any time.
- Stock trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make.
- You should strictly abide with the consultation provided by the qualified research analyst/s at PHD Capital Private Limited and trade only as per the levels provided by us. Unlike an actual performance record, simulated results do not represent actual trading. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
- You, and not PHD Capital Private Limited, assume the entire cost and risk of any trading you choose to undertake. You are solely responsible for making your own investment decisions. If you choose to engage in transactions with or without seeking advice from a licensed and qualified financial advisor or entity, then such decision and any consequences flowing there from are your sole responsibility. PHD Capital Private Limited or any employees are in no way liable for the use of the information by others in investing or trading in investment vehicles.
- We encourage all investors to use the information on the site as a resource to further their own research on all featured companies, stocks, sectors, markets and information presented on the site.
- www.phdcapital.in, its management, its associate companies and/or their employees take no responsibility for the veracity, validity and the correctness of the expert recommendations or other information or research. Although we attempt to research thoroughly on information provided herein, there are no guarantees in consistency. The information presented on the site has been gathered from various sources believed to be providing correct information. PHD Capital Private Limited, group, companies, associates and/or employees are not responsible for errors, inaccuracies if any in the content provided on the site.
- PHD Capital Private Limited, its management, its associate companies and/or their employees take no responsibility for the veracity, validity and the correctness of the expert recommendations or other information or research. Although we attempt to research thoroughly on information provided herein, there are no guarantees in consistency. The information presented on the site has been gathered from various sources believed to be providing correct information. PHD Capital Private Limited, group, companies, associates and/or employees are not responsible for errors, inaccuracies if any in the content provided on the site.
- PHD Capital Private Limited, group, companies, associates and/or employees are not responsible for errors, inaccuracies if any in the content provided on the site.
- www.phdcapital.in has license to provide research advisory as a research analyst. Your use of this and all information contained on PHD Capital Private Limited is governed by these Terms and Conditions of Use. This material is based upon information that we consider reliable, but we do not represent that it is consistent or complete, and that it should be relied upon, as such. You should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. By using www.phdcapital.in including any software and content contained therein, you agree that use of the Service is entirely at your own risk. www.phdcapital.in is a registered research analyst. You understand and acknowledge that there is a very high degree of risk involved in trading securities. PHD Capital Private Limited makes no warranties and gives no assurances regarding the truth, timeliness, reliability, or good faith of any material posted on www.phdcapital.in. PHD Capital Private Limited does not warranties that trading methods or systems presented in their services or the information herein, or obtained from advertisers or members will result in profits or losses.
- By visiting the website (www.phdcapital.in) as a visitor and / or as a subscriber, surfing and reading of the information on the website is the acceptance of this disclaimer and all other terms and conditions.”
AML Policy
Provisions of Prevention of Money Laundering Act, 2002
Prevention of Money Laundering Act, 2002 (PMLA) forms the core of legal framework put in
place by India to combat money laundering and related crimes. PMLA and the Rules notified
there under came into force from 1st July, 2005. Under PMLA, all the entries registered with
SEBI are required to furnish information of all the suspicious transactions whether or not
made in cash to FIU-IND. Under Section3 Of PMLA, projecting Of crime as untainted property is
an offence of money laundering liable to be punishment under section 4 of the PMLA
Individual Code of Conduct
Code of Conduct- Securities Dealing Procedures in terms of SEBI
(Research Analysts) Regulations, 2014
INTRODUCTION
SEBI vide its Notification No. LAD-NRO/GN/2014-15/07/1414 dated 1st September, 2014 has
notified SEBI (Research Analysts) Regulations, 2014 which are effective on/after expiry of 29th
November, 2014 (Ninetieth day from the date of their publication if official gazette). These regulations
have been introduced by SEBI with the objective of fostering transparency in security research and
provide the investors with more reliable and useful information to make investment decisions.
These Code of Conduct – Securities Dealing Procedures are being implemented in line with these
regulations.
Internal Policy
Internal Policy & Control Procedure in terms of SEBI (Research Analysts)
Regulations, 2014
INTRODUCTION
SEBI vide its Notification No. LAD-NRO/GN/2014-15/07/1414 dated 1st September, 2014 has
notified SEBI (Research Analysts) Regulations, 2014 which are effective on/afterexpiry of 29th
November, 2014 (Ninetieth day from the date of their publication if officialgazette). These
regulations have been introduced by SEBI with the objective of fostering transparency in security
research and provide the investors with more reliable and useful information to make investment
decisions
Grievance Redressal / Escalation Matrix
Client’s queries / complaints may arise due to lack of understanding or a deficiency of service experienced by clients. Deficiency of service may include lack of explanation, clarifications, understanding which escalates into shortfalls in the expected delivery standards, either due to inadequacy of facilities available or through the attitude of staff towards client.
- Clients can seek clarification to their query and are further entitled to make a complaint in writing, orally or telephonically. An email may be sent to the Client Servicing Team on complain@phdcapital.in . Alternatively, the Investor may call on 032-1629-7100
- A letter may also be written with their query/complaint and posted at this address – PHD CAPITAL PRIVATE LIMITED, Sadpur-Maslandpur, Habra-1 Maslandapur, Basirhat Road, 24 Parganas North, Maslandapur, BARASAT, WEST BENGAL, 743289.
- Clients can write to the Compliance Officer at compliance@phdcapital.in if the Investor does not receive a response within 10 business days of writing to the Client Servicing Team. The client can expect a reply within 10 business days of approaching the Compliance Officer.
- In case you are not satisfied with our response you can lodge your grievance with SEBI at https://scores.sebi.gov.in or you may also write to any of the offices of SEBI. SCORES may be accessed thorough SCORES mobile application as well, same can be downloaded from below link: https://play.google.com/store/apps/details?id=com.sebi
- ODR Portal could be accessed, if unsatisfied with the response. Your attention is drawn to the SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023, on “Online Resolution of Disputes in the Indian Securities Market”. A common Online Dispute Resolution Portal (“ODR Portal”) which harnesses conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market has been established. ODR Portal can be accessed via the following link – https://smartodr.in/
Grievance Redressal / Escalation Matrix
| Details of designation | Contact Person Name | Address where the physical address location | Contact NO. | Email-ID | Working hours when complaints can call |
| Head of Customer Care | PRADIP HALDER | Sadpur-Maslandpur, Habra-1, Basirhat Road, 24 Parganas North, BARASAT, WEST BENGAL, 743289 | 032-1629-7100 | support@phdcapital.in | 11 A.M - 6 P.M |
| Compliance Officer | PRADIP HALDER | Sadpur-Maslandpur, Habra-1, Basirhat Road, 24 Parganas North, BARASAT, WEST BENGAL, 743289 | 032-1629-7100 | compliance@phdcapital.in | 11 A.M - 6 P.M |
| CEO | PRADIP HALDER | Sadpur-Maslandpur, Habra-1, Basirhat Road, 24 Parganas North, BARASAT, WEST BENGAL, 743289 | 032-1629-7100 | ceo@phdcapital.in | 11 A.M - 6 P.M |
| Principal Officer | PRITAM SARDAR | Sadpur-Maslandpur, Habra-1, Basirhat Road, 24 Parganas North, BARASAT, WEST BENGAL, 743289 | 032-1629-7101 | principalofficer@phdcapital.in | 11 A.M - 6 P.M |
Compliance For The Month Ending : Nov 2025
| SR. NO. | RECEIVED FROM | PENDING AT THE END OF LAST MONTH | RECEIVED | RESOLVED* | TOTAL PENDING# | PENDING COMPLAINTS > 3 MONTHS | AVERAGE RESOLUTION TIME ^ (IN DAYS) |
| 1. | DIRECTLY FROM INVESTORS | 0 | 0 | 0 | 0 | 0 | - |
| 2. | SEBI (SCORES) | 0 | 0 | 0 | 0 | 0 | - |
| 3. | OTHER SOURCES (IF ANY) | 0 | 0 | 0 | 0 | 0 | - |
| GRAND TOTAL | 0 | 0 | 0 | 0 | 0 | - |
Trend of Monthly Disposal of Complains
| SR. NO. | MONTH | CARRIED FORWARD FROM PREVIOUS MONTH | RECEIVED | RESOLVED* | PENDING# |
| 1 | MAY, 2024 | 0 | 0 | 0 | 0 |
| 2 | JUNE, 2024 | 0 | 0 | 0 | 0 |
| 3 | JULY, 2024 | 0 | 0 | 0 | 0 |
| 4 | AUGUST, 2024 | 0 | 0 | 0 | 0 |
| 5 | SEPTEMBER, 2024 | 0 | 0 | 0 | 0 |
| 6 | OCTOBER, 2024 | 0 | 0 | 0 | 0 |
| 7 | NOVEMBER, 2024 | 0 | 0 | 0 | 0 |
| 8 | DECEMBER, 2024 | 0 | 0 | 0 | 0 |
| 9 | JANUARY, 2025 | 0 | 0 | 0 | 0 |
| 10 | FEBRUARY, 2025 | 0 | 0 | 0 | 0 |
| 11 | MARCH, 2025 | 0 | 0 | 0 | 0 |
| 12 | APRIL, 2025 | 0 | 0 | 0 | 0 |
| 13 | MAY, 2025 | 0 | 0 | 0 | 0 |
| 14 | JUNE, 2025 | 0 | 0 | 0 | 0 |
| 15 | JULY, 2025 | 0 | 0 | 0 | 0 |
| 16 | AUGUST, 2025 | 0 | 0 | 0 | 0 |
| 17 | SEPTEMBER, 2025 | 0 | 0 | 0 | 0 |
| 18 | OCTOBER, 2025 | 0 | 0 | 0 | 0 |
| 19 | NOVEMBER, 2025 | 0 | 0 | 0 | 0 |
| GRAND TOTAL | 0 | 0 | 0 | 0 |
Trend of Annual Disposal of Complaints
| SN | YEAR | CARRIED FORWARD FROM PREVIOUS YEAR | RECEIVED | RESOLVED* | PENDING# |
| 1 | 2024-25 | 0 | 0 | 0 | 0 |
| 2 | 2025-26 | 0 | 0 | 0 | 0 |
Investor Awareness and Education
- Do not share anyone trading credentials – login id & passwords including OTP’s.
- Avoid trading in leveraged products like options without proper understanding, which could lead to losses.
- Writing/ selling options or trading in option strategies based on tips, without basic knowledge & understanding of the product and its risks.
- Do not deal in unsolicited tips through Whatsapp, Telegram, YouTube, Facebook, SMS, calls, etc.
- Avoid trading in “Options” based on recommendations from unauthorised / unregistered investment Analyst/advisors and influencers.
- Investors are cautioned to abstain them from dealing in any schemes of unauthorised collective investments/portfolio management, indicative/ guaranteed/fixed returns / payments etc.
- Kindly note that relying on any such fraudulent communication received in any form or manner, which originates from any of the channels not belonging to PHD CAPITAL PVT LTD, shall be at your own risk and PHD CAPITAL PVT LTD, shall not be liable for the same.
- The Amount That You Are Paying To The Company, PHD CAPITAL PRIVATE LIMITED Is Purely The Fees for our Subscription Services And Not For Any Investment Or For Making Any Investment On Your Behalf In The Capital Market. Investment Is To Be Done By Your Side And In Your Demat Account Only.
In case of any queries, request you to kindly get in touch with Customer Service on +91 7074751778
Privacy Policy
PHD Capital Private Limited (SEBI Registered Research Analyst) respects and values the Right to Privacy of individuals. We are esteemed by the relationship and by becoming our clients you have a promise from our side that we shall remain loyal to all our clients and non-clients whose information resides with us. This Privacy Policy of PHD Capital Private Limited applies to the current clients as well as, former clients. Below are the word by word credentials of our Privacy Policy :
- By registering your mobile number on www.phdcapital.in, you agree to be contacted by our personnel or to receive SMS’s and it shall be treated as ‘opt inn’ in case if the contact number you have registered with us, is subscribed in DND registry (Do Not Disturb). By registering for our services, you also agree to comply with our Private Policy and Terms & Conditions. Please be aware that you may receive calls related to services promotions and any sort of contests and polls organised by us. In case there are any changes in your contact information that we retain, please bring this to our knowledge either by call or email.
- Your information whether public or private, will not be sold, rented, exchanged, transferred or given to any company / establishment / individual for any reason, without your consent for the same.
- By using our site, you consent to our privacy policy.
- Your information will be used ONLY for providing the services to you for which you have subscribed to us. For which you have shared your respective information.
- The information shared with us by you, represents your identity with us. Please update us through email or call, as and when, any changes takes place regarding any of the details that you’ve shared with us.
- In addition to the service provided to you, your information (Mobile Number, E-Mail ID etc.) can be brought in use for sending you newsletters, survey or information about any new services of the Company which will be for your own good and while subscribing for our services you agree that PHD Capital Private Limited has the right to do so.
- By subscribing to our services, you consent to our Privacy Policy and Terms of Use.
- If we decide to change our privacy policy, we will post those changes on this page.
- If there are any questions regarding this privacy policy you may contact us at the mentioned email/support id: admin@phdcapital.in.
Refund Policy
At PHD Capital Private Limited, we strive to provide top-notch services with transparency and fairness. Below is our refund policy applicable to each of our offerings.
Model Portfolio
- In case of premature termination, we refund fees for the unexpired period on a pro-rata basis.
- No “breakage” fee or penalty shall be imposed.
- Partial-month subscriptions are generally not refunded except at RA’s sole discretion.
- If RA registration is suspended (>60 days) or cancelled, we refund unutilized fees.
Note: Onboarding fees, platform fees, KYC charges, and GST paid are non-refundable as they cover incurred costs.
Research Services
- In case of premature termination, we refund fees for the unexpired period on a pro-rata basis.
- Refunds are not available based on market outcomes or losses.
- We do not offer any guarantees on profit or loss minimization.
Note: Onboarding fees, platform fees, KYC charges, and GST paid are non-refundable as they cover incurred costs.
Mutual Fund Distribution
We act as a distributor and do not charge fees to clients for investing in mutual funds via our platforms. As such, no refunds are applicable.
PMS Distribution
We facilitate PMS investment as a distributor and do not levy fees on our clients for using our platforms. Therefore, no refunds are applicable.
Investor Charter
A. Vision and Mission Statements for investors
- Vision: Invest with knowledge & safety.
- Mission: Every investor should be able to invest in right investment products based on their need, manage and monitor them to meet their goals, access reports and enjoy financial wellness.
B. Details of business transacted by the Research Analyst with respect to the investors
- To publish research report based on the research activities of the RA
- To provide an independent unbiased view on securities.
- To offer unbiased recommendation, disclosing the financial interests in recommended securities.
- To provide research recommendation, based on analysis of publicly available information and known observations.
- To conduct audit annually
- To ensure that all advertisements are in adherence to the provisions of the Advertisement Code for Research Analysts.
- To maintain records of interactions, with all clients including prospective clients (prior to onboarding), where any conversation related to the research services has taken place.
C. Details of services provided to investors (No Indicative Timelines)
- Onboarding of Clients
- Sharing of terms and conditions of research services
- Completing KYC of fee-paying clients
- Disclosure to Clients:
- To disclose, information that is material for the client to make an informed decision, including details of its business activity, disciplinary history, the terms and conditions of research services, details of associates, risks and conflicts of interest, if any
- To disclose the extent of use of Artificial Intelligence tools in providing research services
- To disclose, while distributing a third-party research report, any material conflict of interest of such third-party research provider or provide web address that directs a recipient to the relevant disclosures
- To disclose any conflict of interest of the activities of providing research services with other activities of the research analyst.
- To distribute research reports and recommendations to the clients without discrimination.
- To maintain confidentiality w.r.t publication of the research report until made available in the public domain.
- To respect data privacy rights of clients and take measures to protect unauthorized use of their confidential information
- To disclose the timelines for the services provided by the research analyst to clients and ensure adherence to the said timelines
- To provide clear guidance and adequate caution notice to clients when providing recommendations for dealing in complex and high-risk financial products/services
- To treat all clients with honesty and integrity
- To ensure confidentiality of information shared by clients unless such information is required to be provided in furtherance of discharging legal obligations or a client has provided specific consent to share such information.
D. Details of grievance redressal mechanism and how to access it
- Investor can lodge complaint/grievance against Research Analyst in the following ways:
- Mode of filing the complaint with research analyst
In case of any grievance / complaint, an investor may approach the concerned Research Analyst who shall strive to redress the grievance immediately, but not later than 21 days of the receipt of the grievance.
- Mode of filing the complaint on SCORES or with Research Analyst Administration and Supervisory Body (RAASB)
- SCORES 2.0 (a web based centralized grievance redressal system of SEBI for facilitating effective grievance redressal in time-bound manner) (https://scores.sebi.gov.in)
Two level review for complaint/grievance against Research Analyst:
- First review done by designated body (RAASB)
- Second review done by SEBI
- Email to designated email ID of RAASB
- If the Investor is not satisfied with the resolution provided by the Market Participants, then the Investor has the option to file the complaint/ grievance on SMARTODR platform for its resolution through online conciliation or arbitration.
Regarding physical complaints, investors may send their complaints to:
Office of Investor Assistance and Education, Securities and Exchange Board of India, SEBI Bhavan, Plot No. C4-A, ‘G’ Block, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051
E. Rights of investors
- Right to Privacy and Confidentiality
- Right to Transparent Practices
- Right to fair and Equitable Treatment
- Right to Adequate Information
- Right to Initial and Continuing Disclosure -Right to receive information about all the statutory and regulatory disclosures
- Right to Fair & True Advertisement
- Right to Awareness about Service Parameters and Turnaround Times
- Right to be informed of the timelines for each service
- Right to be Heard and Satisfactory Grievance Redressal
- Right to have timely redressal
- Right to Exit from Financial product or service in accordance with the terms and
- conditions agreed with the research analyst
- Right to receive clear guidance and caution notice when dealing in Complex and
- High-Risk Financial Products and Services
- Additional Rights to vulnerable consumers – Right to get access to services in a suitable manner even if differently abled
- Right to provide feedback on the financial products and services used
Right against coercive, unfair, and one-sided clauses in financial agreements
Expectations from Investors
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Do's
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Dont's
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Always deal with SEBI registered Research Analyst. |
Do not provide funds for investment to the Research Analyst. |
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Ensure that the Research Analyst has a valid registration certificate. |
Don’t fall prey to luring advertisements or market rumours. |
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Check for SEBI registration number. Please refer to the list of all SEBI registered Research Analyst which is available on SEBI website in the following link: Click Here |
Do not get attracted to limited period discount or other incentive, gifts, etc. offered by Research Analyst. |
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Always pay attention towards disclosures made in the research reports before investing. |
Do not share login credential and password of your trading, demat or bank accounts with the Research Analyst. |
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Pay your Research Analyst through banking channels only and maintain duly signed receipts mentioning the details of your payments. You may make payment of fees through Centralized Fee Collection Mechanism (CeFCoM) of RAASB if research analyst has opted for the mechanism. (Applicable for fee paying clients only) |
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Before buying/ selling securities or applying in public offer, check for the research recommendation provided by your Research Analyst. |
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Ask all relevant questions and clear your doubts with your Research Analyst before acting on recommendation. |
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Seek clarifications and guidance on research recommendations from your Research Analyst, especially if it involves complex and high-risk financial products and services. |
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Always be aware that you have the right to stop availing the service of a Research Analyst as per the terms of service agreed between you and your Research Analyst. |
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Always be aware that you have the right to provide feedback to your Research Analyst in respect of the services received. |
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Always be aware that you will not be bound by any clause, prescribed by the research analyst, which is contravening any regulatory provisions. |
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Inform SEBI about Research Analyst offering assured or guaranteed returns. |
Segregation of Departments
At PHD Capital Private Limited, we prioritize transparency, compliance, and client trust in all our operations. To adhere to the guidelines set forth by the Securities and Exchange Board of India (SEBI) and other regulatory bodies and eliminate potential conflicts of interest, we have implemented a clear segregation of our departments and their respective financial operations. Below, we outline our departmental structure, functions, and associated bank accounts for complete transparency.
Research and Analysis & Model Portfolios
Function: As a SEBI-registered research analyst, we provide our clients with research and analysis.This ensures unbiased, value-driven insights without financial conflict.
In-Charge: Pritam Sardar (Director & Research Head), DIN: 10464248
Research Analyst: PRADIP HALDER (Director), DIN: 08786591
Bank Account Details: All research-related subscriptions received are managed through the following account:
Bank Name: Bank of India
Account Name: PHD Capital Private Limited
Account Number: xxxxxxxxxxx0242
IFSC Code: BKlD0004143
Conflict of Interest Mitigation
Strict Financial Separation: Each department operates independently with designated bank accounts to ensure financial transparency and compliance with SEBI regulations. This separation prevents the misuse of funds and potential conflicts of interest between our services.
Independent Operations: We do not receive any commission, remuneration, or compensation for the recommendations or information we publish. There is no conflict of interest in our research reports, analysis, or posts.
Regulatory Adherence: As a SEBI-registered Research Analyst, we strictly follow the prescribed guidelines to uphold ethical practices and safeguard client interests.
Transparency in Client Interaction: All financial dealings and departmental activities are disclosed to clients to maintain trust and accountability. Our clients can rest assured that their investments, fees, and transactions are handled with the highest level of integrity.
Contact Us
For any queries or clarifications regarding our operations, please reach out to us at:
Email: researchdesk@phdcapital.in
Phone: +91-7074751778
Mutual Fund and Portfolio Management Services (PMS) Distribution
Function: As AMFI-registered Mutual Fund Distributors and APMI-registered PMS Distributors, we facilitate the distribution of mutual funds and PMS products.
In-Charge: Sabarika Debroy, DIN: 08786592
Bank Account Details: All distribution-related commissions received are managed through the following account:
Bank Name: Bandhan Bank
Name: PHD Capital Private Limited
Number: xxxxxxxxxx4707
IFSC Code: BDBL0001649
*Clients who are already registered with our distribution services cannot be onboarded for our research services (including Model Portfolios). We strictly adhere to SEBI guidelines by maintaining clear segregation between client levels at all times. This separation is upheld with full transparency and trust, ensuring compliance and ethical standards.