Kuber Basket High 38.

02%
Energy Large Cap Volitality 4Y CAGR

Stockcase Rationale
A portfolio designed to maximize dividends received from PSU and other high dividend paying
companies. For long-term investors, dividend returns are very important as they are an additional
return earned over and above capital gains, in addition to providing regular cash flow.

Methodology
Defining the universe
All publicly traded companies on the Stock Exchanges of India (NSE/BSE) is included in the
universe. Preference to NSE/BSE 00 companies.

Research
The team does in-depth research to decide the criteria to be used for the inclusion or elimination
of constituent.

Constituent Screening

Apart from going through company reports and Financials, the research team does individual
stock picking on a host of Qualitative and Quantitative parameters while screening stocks for the
respective strategy. Following are the parameters, which we use to screen the stocks .

1. Less sensitive to price momentum.

2. Relatively strong fundamentals over the past few years.
3. Sizeable market share in their industries.

Rebalance
This Stockcase has a quarterly rebalance schedule. Once every quarter, the research team
reviews this Stockcase and realign the weights with the selected asset allocation criteria for the
next QUARTER

1. Any new policy, which is affecting its core business.

2. Consistent fall in the market share or facing competition from a large player.
3. Change in rating (down at least two notches).
4. Any negative developments related to corporate governance issues.
5. Major shift in capital allocation towards non-core businesses.
6. Promoters’ Pledge issue.

Weighting

The following parameters were considered while assigning weights to stocks in these stockcases
Market capitalizatio

1. Management quality and vision.

2. New coverage stocks with decent upside potential
3. Relative stock performance with attractive valuations

14/03/2016 12/03/2020 Quarterly 16/05/2024 14/08/2024

Inception Date Launch Date Review Frequency Last Review Next Review

Disclosures
Investing involves risks and investments may lose value. Past performance does not guarantee
future returns and performance of StockCase Baskets are subject to market risks. For detailed
disclosures related to the creator/manager of the Basket, please refer to “About the Analyst”

GENERAL INVESTMENT DISCLOSURE

The content and data available on the StockCase platform, including but not limited to Basket
values, Basket's return numbers and Basket's rationale are for information and illustration
purposes only. Charts and performance numbers only include actual data since the creation of the
respective Basket, calculated via a standard methodology, and do not include the impact of
transaction fee and other related costs. Past performance does not guarantee future returns.

All information present on the StockCase platform is to help investors in their decision making
process and shall not be considered as a recommendation or solicitation of an investment or
investment strategy. Investors are responsible for their investment decisions and are responsible
to validate all the information used to make the investment decision. Investor should understand
that his/her investment decision is based on personal investment needs and risk tolerance, and
information available on the platform and related material is one among many other things that
should be considered while making an investment decision.

Stock and ETF investments are subject to market risk, read all related documents carefully.
Investors should consult their financial advisors if in doubt about whether the product is suitable
for them.

RETURN CALCULATION METHODOLOGY

Each StockCase Basket’s return is the Time-Weighted Rate of Return.

TWR = [(1 + HP1) × (1 + HP2) × × (1 + HPn)]-1

where:

TWR = Time-weighted return

n = Number of sub-periods
HP = (Initial Value + Cash Flow) End Value - (Initial Value + Cash Flow)
HPn = Return for sub-period n

This methodology is often used to compare the returns of investment managers because it
eliminates the distorting effects on growth rates created by inflows and outflows of money. The
time-weighted return breaks up the return on an investment portfolio into separate intervals based
on whether money was added or withdrawn from the fund

VOLATILITY CALCULATION METHODOLOGY

The standard deviation of a Basket’s daily returns (%) is divided by the standard deviation of the
NIFTY 50’s daily returns (%) over the same period. If the ratio is lesser than 0.7, the Basket’s
volatility is considered Low; if it is between 0.7 and 1.3, the Basket’s volatility is considered
Medium; if it is greater than 1.3, the Basket’s volatility is considered High. The period considered
is since the creation of the Basket, capped at 1 year.

MARKET CAP ASSIGNMENT METHODOLOGY

In a given Basket, if the combined weights of stocks in any one Market Cap (Large, Mid or Small)
is equal to or greater than 80%, that Basket is assigned that Market Cap. Otherwise, it is labelled
“Multi Cap”. This classification is updated daily.

SECTOR ASSIGNMENT METHODOLOGY

In a given Basket, if the combined weights of stocks in any Sector is equal to or greater than 50%,
that Basket is assigned that Sector. Otherwise, it is labelled “Multi Sector”. This classification is
updated daily.
 Does Basket performance include the impact of transaction fees?
No, transaction fees and other related costs are not included to calculate the value and
performance of the Baskets.
Does Basket performance include historical rebalances?
Yes, Basket performance accounts for all the rebalances. Baskets are reviewed and
rebalanced as per a schedule depending on the Basket. As a result of this review process,
some stocks may be added, some may be removed and some may undergo weight changes.
Basket returns reflect all these changes.

Disclosure/Disclaimer of Kotak Securities Limited (KSL) as declared by it:

Kotak Securities Limited established in 1994, is a subsidiary of Kotak Mahindra Bank Limited.
Kotak Securities is one of India's largest brokerage and distribution house.

Kotak Securities Limited is a corporate trading and clearing member of BSE Limited (BSE),
National Stock Exchange of India Limited (NSE), Metropolitan Stock Exchange of India Limited
(MSE), National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange
(MCX). Our businesses include stock broking, services rendered in connection with distribution of
primary market issues and financial products like mutual funds and fixed deposits, depository
services and Portfolio Management.

Kotak Securities Limited is also a depository participant with National Securities Depository
Limited (NSDL) and Central Depository Services (India) Limited (CDSL). Kotak Securities Limited
is also registered with Insurance Regulatory and Development Authority as Corporate Agent for
Kotak Mahindra Life Insurance Company Limited and Kotak Mahindra General Insurance
Company Limited and is also a Mutual Fund Advisor registered with Association of Mutual Funds
in India (AMFI). We are registered as a Research Analyst under SEBI (Research Analyst)
Regulations, 2014.

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. However SEBI,
Exchanges, Clearing Corporations and Depositories etc have conducted the routine inspection
and based on their observations have issued advise/warning/show cause notices/deficiency
letters/ or levied penalty or imposed charges for certain deviations observed in inspections or in
normal course of business, as a Stock Broker / Depository Participant/Portfolio Manager. We have
not been debarred from doing business by any Stock Exchange / 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 Kotak Securities Ltd. It does not constitute a personal
recommendation or take into account 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 Kotak
Securities 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
centers 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 endeavor 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 proprietary trading and investment businesses may
make investment decisions that are inconsistent with the recommendations expressed herein.

Kotak Securities Limited has two independent equity research groups: Institutional Equities and
Private Client Group. This report has been prepared by the Private Client Group.

We and our affiliates/associates, officers, directors, and employees, Research Analyst(including

relatives) worldwide may: (a) from time to time, have long or short positions in, and buy or sell the
securities thereof, of company (ies) mentioned herein or (b) be engaged in any other transaction
involving such securities and earn brokerage or other compensation or act as a market maker in
the financial instruments of the subject company/company (ies) discussed herein or act as advisor
or lender / borrower to such company (ies) or have other potential/material conflict of interest with
respect to any recommendation and related information and opinions at the time of publication of
Research Report or at the time of public appearance. Kotak Securities Limited (KSL) may have
proprietary long/short position in the above mentioned scrip(s) and therefore may be considered
as interested. The views provided herein are general in nature and does not consider risk appetite
or investment objective of particular investor; readers are requested to take independent
professional advice before investing. This should not be construed as invitation or solicitation to
do business with KSL. Kotak Securities Limited is also a Portfolio Manager. Portfolio Management
Team (PMS) takes its investment decisions independent of the PCG research and accordingly
PMS may have positions contrary to the PCG research recommendation. Kotak Securities 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

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 Kotak
Securities' prior written consent.

Details of Associates are available on www.kotak.com

1. “Note that the research analysts contributing to the research report may not be registered
/qualified as research analysts with FINRA; and
2. Such research analysts may not be associated persons of Kotak Mahindra Inc and therefore,
may not be subject to NASD Rule 2711 restrictions on communications with a subject
company, public appearances and trading securities held by a research analyst account

Any U.S. recipients of the research who wish to effect transactions in any security covered by the
report should do so with or through Kotak Mahindra Inc. (Member FINRA/SIPC) and (ii) any
transactions in the securities covered by the research by U.S. recipients must be effected only
through Kotak Mahindra Inc. (Member FINRA/SIPC) at 369 Lexington Avenue 28th Floor NY NY
10017 USA (Tel:+1 212-600-8850)

Kotak Securities Limited and its non US affiliates may, to the extent permissible under applicable
laws, have acted on or used this research to the extent that it relates to non US issuers, prior to or
immediately following its publication. This material should not 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. This research report and its respective contents do not constitute an offer or
invitation to purchase or subscribe for any securities or solicitation of any investments or
investment services. Accordingly, any brokerage and investment services including the products
and services described are not available to or intended for Canadian persons or US persons.”

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

Kotak Securities 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

“However, Kotak Securities Prop/Arbitrage team could have exposure/financial interest to the
subject company/companies during the ongoing month.”

“Nature of financial interest is holding of equity shares and/or derivatives of the subject company.”

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 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: Yes

Kotak Securities 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: No

By referring to any particular sector, Kotak Securities 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.

"A graph of daily closing prices of securities is available at https://www.nseindia.com/ChartApp

/install/charts/mainpage.jsp and http://economictimes.indiatimes.com/markets/stocks/stock-quotes
. (Choose a company from the list on the browser and select the "three years" icon in the price
chart).

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: Mr. Hiren Thakkar. Call: 022 - 4285 8484, or Email: ks.compliance@kotak.com.

Kotak Securities Limited. Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex,
Bandra (E), Mumbai 400051. CIN: U99999MH1994PLC134051, Telephone No.: +22 43360000,
Fax No.: +22 67132430. Website: www.kotak.com / www.kotaksecurities.com. Correspondence
Address: Infinity IT Park, Bldg. No 21, Opp. Film City Road, A K Vaidya Marg, Malad (East),
Mumbai 400097. Telephone No: 42856825. SEBI Registration No: INZ000200137(Member of
NSE, BSE, MSE, MCX & NCDEX), AMFI ARN 0164, PMS INP000000258 and Research
Analyst INH000000586. NSDL/CDSL: IN-DP-629-2021. Compliance Officer Details: Mr. Hiren
Thakkar. Call: 022 - 4285 8484, or Email: ks.compliance@kotak.com

In case you require any clarification or have any query/concern, kindly write to us atService.
securities@kotak.com. For grievances write to KS.escalation@kotak.com and follow below
Grievances Escalation matrix

Contact Working
Details of Address Contact No. Email Id
Person Hours
Kotak Towers, 8th Floor, 9 a.m. to
Customer Mr. Building No.21, Infinity Park, ks. 6 p.m.
care Ritesh Off Western Express Highway, 18002099393 escalation@kotak. All
/Complaints Shah Malad (East), Mumbai, com trading
Maharashtra - 400097 days
Kotak Towers, 8th Floor, 9 a.m. to
Head of Mr. Building No.21, Infinity Park, ks. 6 p.m.
022-
Customer Tabrez Off Western Express Highway, servicehead@kotak. All
42858208
care Anwar Malad (East), Mumbai, com trading
Maharashtra - 400097 days
Kotak Towers, 8th Floor, 9 a.m. to
Mr. Building No.21, Infinity Park, ks. 6 p.m.
Compliance 022-
Hiren Off Western Express Highway, compliance@kotak. All
Officer 42858484
Thakkar Malad (East), Mumbai, com trading
Maharashtra - 400097 days
Kotak Towers, 8th Floor, 9 a.m. to
Building No.21, Infinity Park, 6 p.m.
Mr.
Off Western Express Highway, 022- All
CEO Shripal ceo.ks@kotak.com
 Shah Malad (East), Mumbai, 42858301 trading
Maharashtra - 400097 days

In absence of response/complaint not addressed to your satisfaction, you may lodge a complaint
with SEBI at https://scores.sebi.gov.in or Exchange at https://investorhelpline.nseindia.com
/NICEPLUS/, https://bsecrs.bseindia.com/ecomplaint/frmInvestorHome.aspx, Investor Service
Centre | National Commodity & Derivatives Exchange Limited (ncdex.com), https://igrs.mcxindia.
com/. Please quote your Service Ticket/Complaint Ref No. while raising your complaint at SEBI
SCORES/Exchange portal or Depository at https://www.epass.nsdl.com/complaints
/websitecomplaints.aspx and https://www.cdslindia.com/Footer/grievances. complaints.aspx and
https://www.cdslindia.com/Footer/grievances