built on research, discipline & transparency.

A. Vision & Mission

Vision: Invest with knowledge & safety.

Mission: Every investor should be able to invest in the right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

B. Business transacted by the Research Analyst

• To publish research reports based on the research activities of the RA.
• To provide an independent unbiased view on securities.
• To offer unbiased recommendations, disclosing financial interests in recommended securities.
• To provide research recommendations based on analysis of publicly available information and known observations.
• To conduct audit annually.
• To ensure all advertisements adhere to the Advertisement Code for Research Analysts.
• To maintain records of interactions with all clients, including prospective clients, where any conversation related to the research services has taken place.

C. Services provided to investors

• Onboarding of clients and sharing of terms and conditions of research services.
• Completing KYC of fee-paying clients.
• Disclosure of material information — business activity, disciplinary history, terms and conditions, associates, risks and conflicts of interest, and the extent of use of Artificial Intelligence tools.
• Distributing research reports and recommendations to clients without discrimination.
• Maintaining confidentiality of the research report until it is made available in the public domain.
• Respecting the data-privacy rights of clients and protecting their confidential information.
• Disclosing timelines for services and adhering to them.
• Providing clear guidance and adequate caution when recommending complex and high-risk products.
• Treating all clients with honesty and integrity.

D. Grievance redressal mechanism

In case of any grievance, an investor may approach the Research Analyst, who shall strive to redress it immediately, but not later than 21 days of receipt. Complaints may also be lodged on SEBI's SCORES 2.0 platform (scores.sebi.gov.in). If not satisfied, the complaint may be filed on the SMART ODR platform (smartodr.in) for online conciliation or arbitration.

• 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 Fair & True Advertisement.
• Right to Awareness about Service Parameters and Turnaround Times.
• Right to be Heard and to Satisfactory, timely Grievance Redressal.
• Right to Exit from a financial product or service per the agreed terms.
• Right to receive clear guidance and caution notice for complex, high-risk products.
• Additional rights for vulnerable consumers, including differently-abled access.
• Right to provide feedback on the products and services used.
• Right against coercive, unfair and one-sided clauses in financial agreements.

These particulars are prepared in accordance with the SEBI (Research Analyst) Regulations, 2014, to help clients make an informed decision before engaging research services.

History, present business and background

The Research Analyst is registered with SEBI as a Research Analyst (Registration No. INH000028857, RAASB/BSE Enlistment No. 7395), registered on 16 July 2026, and is engaged in research and recommendation services. The RA does not offer execution, distribution, portfolio management or investment advisory services.

Disciplinary history

• No penalties have been issued by SEBI under the SEBI Act or Regulations against the Research Analyst relating to research analyst services.
• There are no pending material litigations, and no findings of inspections or investigations for which action has been taken against the Research Analyst.

Associates

No associates.

Disclosures with respect to research & recommendation services

• The RA or its relatives may have a financial interest or beneficial ownership of one per cent or more in the securities recommended, at the end of the month immediately preceding publication; such details are disclosed at the time of advice.
• There are no actual or potential conflicts of interest with any issuer of the securities. Any conflict shall be disclosed to the client as and when it arises.
• The RA and its associates have not received any compensation from the subject company in the past 12 months.
• The RA has not managed or co-managed a public offering, nor received compensation for investment banking, merchant banking or brokerage services from the subject company in the past 12 months.
• The subject company was not a client of the RA during the twelve months preceding distribution of the research report.
• The RA has not served as an officer, director or employee of the subject company, and has not engaged in market-making activity of the subject company.
• The RA uses Artificial Intelligence (AI) tools to assist in the preparation of research reports. The RA remains solely responsible for the security, confidentiality and integrity of client data and for the research output and recommendations issued.

Code of Conduct in terms of the SEBI (Research Analysts) Regulations, 2014.

• Honesty and good faith — act honestly and in good faith.
• Diligence — act with due skill, care and diligence; recommendations follow thorough analysis.
• Conflict of interest — effectively address conflicts and make appropriate disclosures.
• Insider trading / front-running — shall not engage in insider trading or front-running of research.
• Confidentiality — maintain confidentiality of a report until it is public or provided to clients.
• Professional standard — observe high professional standards while preparing reports.
• Compliance — comply with all applicable regulatory requirements.

Prompt and efficient service is essential, especially as we follow a direct-to-investor model. The policy follows these principles:

• Investors will be treated fairly at all times.
• Complaints will be dealt with courtesy and in a timely manner.
• The Research Analyst works in good faith and without prejudice towards the interests of investors.

1. Raise it with us

Email sayebaresearch@gmail.com or call +91 93333 33190. Grievances are redressed within 21 days.

2. Escalate to SEBI (SCORES)

If not satisfied, lodge your grievance with SEBI at scores.sebi.gov.in. SCORES is also available as a mobile app.

3. Online Dispute Resolution (ODR)

If still unsatisfied, the dispute may be taken to the Smart ODR portal at smartodr.in for online conciliation and arbitration.

As an individual Research Analyst, the following contact handles all designations. Working hours: Monday to Friday, 10:00 AM to 5:00 PM.

Escalation: raise the grievance with the Research Analyst first; if unresolved, approach SEBI SCORES (scores.sebi.gov.in); thereafter the Smart ODR portal (smartodr.in).

Complaint register for Research Analyst INH000028857, disclosed in the format prescribed by SEBI. Updated on the website by the 7th of every succeeding month.

A. Data for the month ending July 2026

Registered 16 July 2026; the first monthly disclosure is due to be uploaded by 07 August 2026.

Number of complaints received during the month due to impersonation by some other entity: 0.
* Inclusive of complaints of previous months resolved in the current month. # Inclusive of complaints pending as on the last day of the month. ^ Average resolution time is the total time taken to resolve each complaint (in days) in the current month, divided by the total complaints resolved in the current month.

B. Trend of monthly disposal of complaints

Monthly disposal is maintained from the month of registration (July 2026) and accrues month by month.

* Inclusive of complaints of previous months resolved in the current month. # Inclusive of complaints pending as on the last day of the month.

C. Trend of annual disposal of complaints

** Inclusive of complaints of previous years resolved in the current year. ## Inclusive of complaints pending as on the last day of the year. Maintained from the year of registration (FY 2026-27). Live figures — updated monthly.

Disclosure with respect to the Annual Compliance Audit requirement under Regulation 25(3) of the SEBI (Research Analysts) Regulations, 2014:

Audit reports are published in the linked Google Drive folder once each annual compliance audit is completed.

Important notice and limitation of liability. The particulars below are as per the SEBI (Research Analysts) Regulations, 2014.

Trading and investing in the stock market involve considerable risk. Investment in equity shares, futures, options and commodities carries its own risks. You may lose part or all of your initial investment because market investments are subject to market risk.

The research recommendation and/or report is based on information believed to be accurate, and is provided to enable you to make your own investment decisions — it should not be construed as investment advice. The Research Analyst does not offer any product or service with assured or guaranteed returns and gives no profit commitment.

All research recommendations are a view or opinion only; the client shall at their discretion decide actual trades, and should trade only if the recommendation suits their risk appetite. The Research Analyst shall not be held responsible for any decision taken, or loss incurred, based on the recommendations.

Definitions of terms used in recommendations

Buy — bought at market price or within the price band mentioned.
Sell / Target — the price at which the stock must be sold.
Hold — may be held; no exit required.
Stop-loss — the price at which the stock must be exited on an adverse move.
Add / Accumulate — gradually purchase additional quantity, usually on declines.
Reduce / Trim — gradually decrease exposure without a full exit.
Neutral — neither buy nor sell.
Benchmark — the index against which performance is measured.

Participation in securities markets involves risk. This outlines the risks associated with acting on research, recommendations and market commentary provided by Sayeba Research.

1. Market risk

Investments are subject to market risks. The value of investments may fluctuate, and investors may receive back less than the amount originally invested.

2. No assurance of returns

Registration, enlistment and certification do not guarantee performance or assure returns. Past performance is not indicative of future results.

3. Suitability

Research recommendations are general in nature and may not be suitable for every investor. Consider your financial situation, risk tolerance and objectives before acting.

4. Volatility and timing risk

Markets can be volatile and prices may change rapidly. Research views are based on conditions at the time of publication and may become outdated without notice.

5. Leverage and derivatives risk

For leveraged products such as Futures and Options, losses may exceed the initial capital or margin deployed.

6. Independent decision making

Any decision to act on a recommendation is solely the responsibility of the investor. Sayeba Research shall not be responsible for any trading decision, profit or loss arising from the use of its research.

Derivative instruments, including Futures and Options (F&O), involve a high degree of risk and may not be suitable for all investors.

Key risks

• Leverage risk — small movements in the underlying can cause large gains or losses.
• Loss risk — losses can be substantial and may exceed the initial margin deposited.
• Time decay (Options) — option buyers may lose the entire premium if the expected move does not occur before expiry.
• Volatility risk — unexpected events and rapid price fluctuations can significantly impact positions.
• Liquidity risk — some contracts have low liquidity, making it difficult to enter or exit at desired prices.
• Gap risk — markets may open significantly higher or lower due to overnight developments.

Content published via the official social media handles of Saym Ansari (Sayeba Research), a SEBI Registered Research Analyst (Registration No. INH000028857), is intended strictly for illustration, knowledge and informational purposes only.

• Posts, visuals or opinions shared on social media do not constitute buy / sell / hold recommendations.
• Securities mentioned are for illustration only and are not recommendations.
• Past performance is not indicative of future results.
• Invest strictly according to your own risk tolerance.

Saym Ansari ("Research Analyst" / "RA") is a SEBI Registered Research Analyst bearing Registration No. INH000028857, enlisted with the Research Analyst Administration and Supervisory Body (RAASB) — BSE Limited (Enlistment No. 7395). These terms are disclosed pursuant to the SEBI (Research Analysts) Regulations, 2014.

Acceptance & obligations

• The client subscribes to the research service at their sole discretion, and services are rendered per the RA Regulations.
• Both the RA and the client are bound by the SEBI Act, RA Regulations and applicable rules, as in force from time to time.

KYC

The client agrees to provide complete and accurate information for KYC. The RA will collect and verify KYC records through a KYC Registration Agency (KRA) as specified by SEBI.

Fees & payment

• The maximum fee charged by the RA is ₹1,51,000 per annum per family of clients (Individual and HUF clients; excluding statutory charges).
• Subscription fees are paid in advance for a period not exceeding one year.
• Payment is by direct credit through Net Banking / Debit Card / NEFT / RTGS / IMPS / UPI. Fees are never accepted in cash.
• Payment through SEBI's Centralised Fee Collection Mechanism (CeFCoM) of RAASB is available on request.

Grievance redressal

The RA shall resolve grievances within 21 days. Unresolved grievances may be escalated to SEBI SCORES (scores.sebi.gov.in) and thereafter the Smart ODR portal (smartodr.in).

• These terms are for research services only. The RA cannot execute or carry out any trade on behalf of the client. Do not permit the RA to execute any trade on your behalf.
• The fee is subject to the SEBI/RAASB maximum — currently ₹1,51,000 per annum per family of clients (Individual and HUF; excludes statutory charges).
• Fees may be charged in advance for up to one year. On premature termination, the client is entitled to a refund of proportionate fees for the unexpired period.
• Fees may be paid by cheque, online bank transfer, UPI etc. Cash payment is not allowed. Payment via CeFCoM (BSE) is optional.
• Any assured / guaranteed / fixed-return scheme is prohibited by law.
• The RA cannot guarantee returns, profits or accuracy. All opinions are based on analysis of available data as of the report date.
• SEBI registration, RAASB enlistment and NISM certification do not guarantee performance or assure returns.
• For grievances: (1) contact the RA; (2) SEBI SCORES (scores.sebi.gov.in); (3) Smart ODR (smartodr.in).
• The RA shall never ask for your trading, demat or bank account login credentials or OTPs. Never share these with anyone.

This policy outlines the principles the RA follows to comply with the SEBI (Research Analysts) Regulations, 2014.

Conflict of interest & trading limits

• Maintain an arm's-length relationship between research activity and any other activity.
• The RA shall not trade in recommended securities within 30 days before and 5 days after publication of a research report, nor trade contrary to its own recommendation.

Content standards

• All research services are corroborated by a research report containing the relevant data and analysis.
• No false, misleading or biased statements, and no assurance or guarantee of returns.
• The standard disclaimer regarding SEBI registration, RAASB enlistment and NISM certification is prominently displayed.

Record keeping & audit

• Records — research reports, recommendations, rationale and client interactions — are maintained for a minimum of five years.
• An annual compliance audit is conducted by a member of ICAI / ICSI / ICMAI within the prescribed timeline, and the status is published on the website.

Use of Artificial Intelligence

AI tools are used to assist in research preparation. The RA remains solely responsible for the security, confidentiality and integrity of client data and for the integrity of the research output.

The Prevention of Money Laundering Act, 2002 (PMLA) and the Rules thereunder form the core of India's legal framework against money laundering. SEBI-registered entities must furnish information on suspicious transactions to FIU-IND.

Client Due Diligence (CDD)

• As a Research Analyst, we do not have access to clients' securities accounts or transaction data. We collect basic KYC documents to establish identity and address.
• No account is opened in a fictitious, benami or anonymous name.
• Client identity is checked against SEBI / exchange debarred lists and UN sanctions lists before onboarding.

Transactions, records & reporting

• The only transaction we handle is fee collection through our bank account only. No cash payment is accepted.
• All client records are maintained for a minimum period of 10 years.
• Suspicious transactions are reported (CTR/STR) to FIU-IND, maintaining confidentiality.

Sayeba Research is committed to high-quality research with professionalism, transparency and regulatory compliance. If dissatisfied due to a genuine concern, a client may contact us for clarification, grievance redressal or refund-related queries.

Refund & cancellation

• Refunds and cancellations are processed only on a pro-rata basis, per applicable SEBI regulations.
• Research reports and recommendations carry no assurance or guarantee of profit, return or outcome.

Refund requests will not be considered on the basis of market fluctuations, trading losses, or losses incurred based on research recommendations.

Refund = (Unused period ÷ Total period) × Total amount paid

Illustration: For a quarterly fee of ₹15,999 cancelled after 1 month, the unused period is 2 months → Refund = (2 ÷ 3) × ₹15,999 = ₹10,666 (before applicable deductions).

For refund or grievance queries, email sayebaresearch@gmail.com or call +91 93333 33190.

Saym Ansari (Sayeba Research), a SEBI Registered Research Analyst (INH000028857), is committed to ensuring that this website is accessible to everyone — including people with disabilities and those using assistive technologies.

Our commitment

We strive to meet the Web Content Accessibility Guidelines (WCAG) 2.1 Level AA standards published by the W3C.

Feedback & escalation

If you experience any difficulty accessing content, email sayebaresearch@gmail.com or call +91 93333 33190. We aim to respond within 2 working days.

Do's

• Always deal with a SEBI registered Research Analyst and ensure the registration is valid.
• Check the SEBI registration number on the SEBI website.
• Pay attention to the disclosures made in research reports before investing.
• Pay the Research Analyst through banking channels only; CeFCoM (RAASB) is available.
• Ask all relevant questions before acting, especially for complex and high-risk products.
• Inform SEBI about any Research Analyst offering assured or guaranteed returns.

Don'ts

• Do not provide funds for investment to the Research Analyst.
• Don't fall prey to luring advertisements or market rumours.
• Do not get attracted to limited-period discounts, incentives or gifts.
• Do not share the login credentials or passwords of your trading, demat or bank accounts.

Sayeba Research is the brand name used by Saym Ansari, a SEBI Registered Research Analyst (Registration No. INH000028857), operating from 185 Eden Enclave Society, Kursi Road, Lucknow, Uttar Pradesh 226026. In this policy, "we", "us" and "our" refer to Saym Ansari (Sayeba Research).

Information we collect

• Identity & contact — name, mobile number, email and postal address.
• KYC documents — PAN, Aadhaar and other documents required to onboard you.
• Subscription details — the plan selected, its duration, and payment records.
• Communications — messages you send us on WhatsApp, email or through the platform.

How we use & share your information

We use it to onboard you, verify identity, deliver the research you subscribed to, and meet regulatory obligations. We do not sell your personal information; we share it only with service providers who help us operate, and with regulators or auditors where required by law.

Data security

Payments should only ever be made to the official account named on this website — never to any individual's personal account. We will never ask for your trading or demat account password or OTPs.

Contact

Email sayebaresearch@gmail.com or call +91 93333 33190.