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Acknowledgements:
We would like to acknowledge the contributions made by the following members of the Nuvama Research team: Kapil Gupta, Prateek Parekh, Gaurav Malhotra, Abneesh Roy,
Jal Irani, Vikas Kotha, Sapna Prabhakaran, Parvez Qazi, Rohan Gupta, Arpan Laha, Angad Saluja, Iqbal Khan, Vijay Bhasin, Rushabh Bhachawat, Mihir Vora, Alok Deshpande, Amit
Mahawar.
Should you like to get in touch with the Nuvama Research team, you can email: Kapil.Gupta@nuvama.com, Prateek.Parekh@nuvama.com

This book has been prepared by Nuvama Wealth Management Ltd or Nuvama (Formerly known as Edelweiss Securities Limited), a Securities and Exchange Board of India (SEBI)
regulated and licensed entity to carry out the business of Broking, Research, Investment Advisory and other allied activities. NWML is the subsidiary of PAGAC Ecstasy Pte Ltd
(PAG) which had acquired majority stake in NWML. PAG is one of the largest Asia-focused private investment firms with assets under management (AUM) of $50 billion across
Asia and leading institutional investors from Europe, North America, Asia and the Middle East.
This book does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. This information is
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