Research · Discipline · Transparency

Catch Moves, Before they Happen.

Join India's most trusted community for Technical Analysis. We identify high-probability Swing & FNO setups with pure logic, risk management, and complete transparency.

SEBI Registered Research Analyst Registration No. INH000029467
Executive Investment Success
Rahul Pahuja, Chief Investment Officer
RP
Rahul Pahuja SEBI Registered Research Analyst Registration No. INH000029467

Leadership and Vision

Meet the Experts Behind Your Investment Success

Disciplined strategy builds lasting wealth

  • Strategic Leadership Excellence Pioneered disciplined investment methodologies
  • Industry Recognition Awards Recognized for consistent portfolio performance excellence
  • Client Success Stories Built trusted relationships with investors

With decades of experience in capital management, our leadership team brings analytical rigor and strategic vision. We remain committed to delivering exceptional results.

Why Raya Capital?

Research built around logic, discipline and transparency — not noise.

Research driven

Our approach is built around structured market research and repeatable analysis.

Logic before action

We explain the logic behind our research rather than simply publishing levels.

Risk first

Risk management is considered before opportunity — every time, without exception.

Transparent approach

We believe users should understand both successful and unsuccessful research outcomes.

Technical + fundamental

We use technical analysis and fundamental research where relevant to the strategy.

Structured process

Every research idea follows a defined framework, from screening to monitoring.

Our Growth and Evolution

OUR CORE VALUES

The principles behind every research idea we publish.

01

TRANSPARENCY

We believe transparency is the foundation of trust.

02

DISCIPLINE

We follow a structured process rather than emotional decision-making.

03

LOGIC

Every research idea should have a reason, framework and thesis behind it.

04

RISK MANAGEMENT

Protecting capital and understanding risk comes before chasing opportunity.

05

Accountability

We do not hide unsuccessful outcomes. We believe in complete accountability.

No Noise. No Guesswork.
Just a Process.

Our offering

Research services designed for different strategies, time horizons and market objectives.

Booking Details

Children below 7 years do not require a ticket
Ticket Price ₹2990
Tickets 1
Total Amount ₹2990
Pay ₹2990

Not sure which research service fits you?

Speak to our team first. We'll walk you through the framework, the time commitment and the risks involved.

Who We Serve

We serve serious investors seeking disciplined capital management and strategic expertise. Our approach benefits those committed to building lasting wealth.

High Net Worth

Experienced investors managing substantial portfolios seeking professional strategic guidance. We provide sophisticated capital solutions and personalized advisory services.

Entrepreneurs

Business owners focused on wealth preservation and growth. We help optimize capital allocation and build diversified investment portfolios.

Professionals

Career-focused individuals seeking expert guidance on retirement and investment planning. We simplify complex financial concepts with clear strategies.

Families

Multi-generational wealth builders committed to long-term financial success. We provide comprehensive planning for lasting family prosperity.

Not Suitable Our disciplined approach may not suit those seeking speculative trading or short-term market timing. We focus on strategic, long-term wealth building.

Our process

Every research idea follows a structured framework.

01 — SCREEN

Screen

Identify potential opportunities through predefined technical and/or fundamental filters.

02 — ANALYSE

Analyse

Study price action, trend, volume, Open Interest, market structure and business fundamentals where applicable.

03 — VALIDATE

Validate

Look for confluence and confirmation before publishing research.

04 — DEFINE RISK

Define risk

Define the risk framework, invalidation conditions and key levels where applicable.

05 — MONITOR

Monitor

Track the research thesis and communicate meaningful changes when required.

Every recommendation has a reason. Screen → Analyse → Validate → Define risk → Monitor

100% Safe and Secure Research Analyst

Your research journey is supported by a professional, transparent and secure digital experience.

This refers to the security of our platform, communication and data handling. It does not refer to investment outcomes. Investments in securities markets carry risk, including the risk of loss.

Secure communication

Research and account communication over verified, official channels only.

Registered and accountable

Operating as a SEBI Registered Research Analyst under Reg. No. INH000029467.

Transparent research

Published reasoning, defined risk levels and clear communication of changes.

Responsible data handling

Your details are used only to respond to your enquiry and service your subscription.

Better Decisions Start
With Better Research.

Understand the market. Follow a process. Manage risk.

Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

Raya Capital

Build Lasting Wealth with Disciplined Investment Expertise

Empower your financial future with proven investment strategies backed by authoritative market insights and strategic capital management. Access expert guidance designed for serious investors seeking measurable results and sustainable growth.

Client Testimonials

Hear from investors who have achieved their financial goals through our strategic expertise. Real results from satisfied clients.

“What I really liked about Raya Capital is the clarity in their research. The analysis is structured, practical and easy to understand without unnecessary noise.”

AM Arjun Mehta Equity Investor

“I particularly like the small-cap research. Instead of simply focusing on price movements, Raya Capital looks at the underlying business and the factors that can drive future growth. It has made my stock selection process much more disciplined.”

KA Keshav Arora Commodities trader

“The equity swing research is one of the things I value most. The setups are backed by proper analysis, which makes it much easier to plan entries, exits and risk instead of trading randomly.”

RS Rohan Sharma Swing Trader

“What stands out about Raya Capital is the depth of research. Whether it’s a swing opportunity or a long-term equity idea, the analysis is presented in a way that helps me make my own informed decisions.”

NA Nikhil Agarwal Active Investor

“Options buying can be difficult when you don’t have a clear view of the market. Raya Capital’s research and advisory gives me a structured framework to understand the opportunity, direction and risk before taking a trade.”

AV Aditya Verma Options Trader

“Raya Capital has brought much more structure to my approach towards the markets. The combination of equity research, small-cap ideas and options buying advisory gives me a much clearer process for evaluating opportunities and managing risk.”

JR Joseph R Swing Trader

Proven

Your Investment Success Is Our Priority

We stand behind our strategic expertise with comprehensive support and transparent performance tracking. Your satisfaction drives our commitment.

Getting Started

1

Schedule Initial Consultation

Contact our team to discuss your investment goals and financial situation.

2

Complete Assessment

Our advisors conduct thorough analysis of your complete financial profile.

3

Strategy Development

Receive personalized investment strategy aligned with your objectives.

4

Begin Investing

Execute your strategy and start building lasting wealth. Receive ongoing monitoring and support throughout your investment journey.

09 — ANSWERS

Frequently asked questions

Still unsure? Our team is happy to talk before you subscribe.

Contact the team

Yes. Raya Capital is a SEBI Registered Research Analyst. Registration No. INH000029467.

Equity Swing, Equity Momentum, Long-Term Investment Research, Option Buying, Option Selling, BTST, Algo Option Buying and Algo Option Selling.

Medium- to long-term equity research combining technical structure with fundamental context, with defined levels and invalidation conditions.

Shorter-horizon equity research focused on momentum, breakouts, trend continuation and price action.

Yes, where it is relevant to the strategy — primarily in Equity Swing and Long-Term Investment Research.

Yes. Technical analysis is central to our process — price action, trend, volume, market structure and Open Interest.

Yes. Option-buying research is based on technical setups, momentum and defined risk parameters. Options carry a high risk of loss, including total loss of premium.

Yes. Option-selling research is built around market structure, volatility and Open Interest. Option selling carries margin requirements and the potential for significant losses.

Yes. BTST research covers short-term setups focused on potential overnight momentum and technical structure. Overnight positions carry gap risk.

Yes. These are systematic, rule-based strategies with predefined entry, exit and risk-management logic. Execution remains the subscriber’s responsibility.

Each research service is available on a quarterly, half-yearly or yearly basis. Current fees are listed in the Plans section.

Yes, and we encourage it. Request a callback, message us on WhatsApp, or join the free Telegram community to see how we work first.

No. Investment in securities markets is subject to market risks. Raya Capital does not guarantee returns. Research is provided within the applicable regulatory framework.

Write to us at [GRIEVANCE EMAIL]. If you are not satisfied with the resolution, you may escalate through SEBI SCORES or the Online Dispute Resolution (ODR) portal. Details are in the Investor Corner.

The Investor Charter for Research Analysts, along with our disclosures and monthly complaint data, is published in the Investor Corner.

By email, phone, WhatsApp or the enquiry form in the Contact section. Full details are listed there.

Compliance Data

All regulatory disclosures, policies and grievance information in one place.

Complaints Status

Number Of Client's Complaints

(DATA OF THE MONTH ENDING SEPTEMBER - 2026)

Received from Pending at end of last month Received Resolved * Total Pending # > 3 months Avg Resolution Time
Directly from investor Nil Nil N.A Nil Nil N.A
SEBI (SCORES) Nil Nil N.A Nil Nil N.A
Other Sources (if any) Nil Nil N.A Nil Nil N.A
Grand Total Nil Nil N.A Nil Nil N.A

* Average resolution time is calculated for complaints resolved during the month.

Trend of Monthly Disposal Of Complaints

Sr No. Month Carried Forward Received Resolved * Pending #
1 July 2026 0 0 0 0
2 August 2026 0 0 0 0
3 September 2026 0 0 0 0

Investor Charter

INVESTOR CHARTER IN RESPECT OF RESEARCH ANALYST (RA)

1. 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 needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness.

2. 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.
3. Details of services provided to investors (Standard)
  • Onboarding of Clients.
  • Disclosure to Clients.
  • To provide Research Report and Recommendation to the clients.
  • To maintain confidentiality of clients’ information.
4. Timelines for various services provided by RA
  • Research reports are disseminated to clients within a reasonable time of their preparation.
  • Grievance Redressal: Complaints are resolved within 30 days.
5. Rights of investors
  • Receive unbiased and independent research report.
  • Get disclosures of financial interest and other conflicts of interest.
  • Access to grievance redressal mechanism.
6. Responsibilities of investors
  • Read the research report carefully before investing.
  • Be aware of the risk associated with the investment.
  • Pay only through banking channels.
7. Expectations from the investors (Dos and Don'ts)

Dos:

  • Check all the details of the Research Analyst before onboarding.
  • Check the registration status of the Research Analyst.
  • Pay only through banking channels.
  • Read the research report carefully before investing.

Don'ts:

  • Do not get carried away by any lucrative advertisements.
  • Do not share your login credentials with anyone.
  • Do not invest based on rumors.
8. Grievance Redressal Mechanism
  • In case of any grievance / complaint, an investor should approach the concerned Research Analyst and shall ensure that the grievance is resolved within 30 days.
  • If the investor’s complaint is not redressed satisfactorily, one may lodge a complaint with SEBI on SEBI’s SCORES portal which is a centralized web based complaints redressal system. SEBI takes up the complaints registered via SCORES with the concerned intermediary for timely redressal. SCORES facilitates tracking the status of the complaint.
  • With regard to 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.
9. SEBI SCORES
10. SMART ODR
  • SMART ODR is a common Online Dispute Resolution Portal (“ODR Portal”) which harnesses online conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market. ( https://smartodr.in/login )
11. SEBI Registration
  • Research Analyst Name: Rahul Pahuja (Proprietor of Raya Capital)
  • SEBI Registration Number: INH000029467
  • Registered Office Address: H-213, Sector-63, Noida-201301
12. Disclosure
  • Research Analyst (RA) or his associate or his relative may have financial interest in the subject company.
  • RA or his associate or his relative may have actual/beneficial ownership of 1% or more securities of the subject company at the end of the month immediately preceding the date of publication of the research report or date of the public appearance.
  • RA or his associate or his relative may have any other material conflict of interest at the time of publication of the research report or at the time of public appearance.
13. Standard Warning

Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

14. Disclaimer

Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

15. Important Information for Investors
  • Research Analyst does not provide any execution services.
  • Research Analyst does not provide any custodial services.
  • Research Analyst does not provide any portfolio management services.
Contact Information

To view detailed investor charter

Click here

Grievance Redressal

By Rahul Pahuja (Proprietor of Raya Capital)

Escalation Matrix

Details of designation Contact Person Name Address Contact No. Email-ID
Customer Care Rahul Pahuja H-213, Sector-63, Noida-201301 9910117573 rayacapital06@gmail.com
Head of Customer Care Rahul Pahuja H-213, Sector-63, Noida-201301 9910117573 rayacapital06@gmail.com
Compliance Officer Rahul Pahuja H-213, Sector-63, Noida-201301 9910117573 rayacapital06@gmail.com
CEO Rahul Pahuja H-213, Sector-63, Noida-201301 9910117573 rayacapital06@gmail.com
Principal Officer Rahul Pahuja H-213, Sector-63, Noida-201301 9910117573 rayacapital06@gmail.com

Grievance Redressal Process

Step 1: Contact Raya Capital

In case of any grievance/complaint, the client should first contact the Research Analyst (Rahul Pahuja) using the following contact details:

  • Name: Rahul Pahuja (Proprietor of Raya Capital)
  • Email: rayacapital06@gmail.com
  • Phone: +91 9910117573
  • Address: H-213, Sector-63, Noida-201301

The grievance will be resolved within 30 days.

Step 2: SEBI SCORES

If the complaint is not redressed satisfactorily, you may lodge a complaint with SEBI on the SCORES portal (SEBI Complaints Redress System).

Lodge Complaint on SCORES
Step 3: Online Dispute Resolution (ODR)

Alternatively, you can initiate dispute resolution through the SMART ODR Portal, a common Online Dispute Resolution Portal for the Indian Securities Market.

Access SMART ODR Portal

Research Analyst Disclosure

Raya Capital

Proprietor: Rahul Pahuja
SEBI Registered Research Analyst
SEBI Registration No.: INH000029467

Registered Office: H-213, Sector-63, Noida – 201301
Email: rayacapital06@gmail.com
Contact No.: 9910117573

1. RESEARCH ANALYST DETAILS
  • Name of Research Analyst: Raya Capital
  • Constitution: Proprietorship
  • Proprietor: Rahul Pahuja
  • SEBI Registration No.: INH000029467
  • Registered Office: H-213, Sector-63, Noida – 201301
  • Email: rayacapital06@gmail.com
  • Contact No.: 9910117573
2. NATURE OF BUSINESS

Raya Capital is a SEBI Registered Research Analyst engaged in providing research services and research recommendations in accordance with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014, as amended from time to time, and applicable SEBI circulars, directions and guidelines.

Raya Capital does not provide any service beyond the scope permitted under its SEBI registration and the applicable regulatory framework.

3. RESEARCH SERVICES PROVIDED

Raya Capital may provide research services that are permissible under its SEBI registration, including:

  • Equity Research
  • Research Reports
  • Research Recommendations
  • Sector / Thematic Research
  • Such other research services as may be permissible under the applicable regulatory framework

Services are provided strictly in accordance with the applicable regulatory framework governing Research Analysts.

4. MATERIAL DISCLOSURES
Disciplinary History

Raya Capital / Rahul Pahuja shall disclose applicable disciplinary history, if any, in accordance with the applicable SEBI requirements.

Associates

Details of associates, where applicable, shall be disclosed in accordance with applicable SEBI requirements.

Terms & Conditions

The terms and conditions applicable to research services are made available to clients before availing the services.

View MITC / Terms & Conditions:

https://www.rayacap.com/n/pages/mitc
Investor Charter

The Investor Charter is made available to investors through the website and during the applicable client onboarding process.

View Investor Charter:

https://www.rayacap.com/n/pages/investor-charter
5. CONFLICT OF INTEREST

Raya Capital and its proprietor/associates may have interests in the subject companies. Any such interests will be disclosed in the relevant research reports.

6. OWNERSHIP AND MATERIAL CONFLICT OF INTEREST

[INSERT STATUS] regarding ownership of 1% or more securities of the subject company.

7. RECEIPT OF COMPENSATION

Raya Capital has not received any compensation from the subject company in the past twelve months. [INSERT FY]

8. OTHER DISCLOSURES

No other material conflict of interest exists at the time of publication.

8. USE OF ARTIFICIAL INTELLIGENCE / TECHNOLOGY

Raya Capital may use technology-enabled tools, including Artificial Intelligence-based tools, in certain parts of its research and operational processes, where applicable. Such tools may assist with activities such as data processing, screening, summarisation, analysis or other research-related functions. The use of technology or AI does not eliminate the responsibility of the Research Analyst to comply with applicable regulatory requirements and internal review processes.

10. PERFORMANCE DISCLOSURE

Past performance is not indicative of future results.

11. STANDARD WARNING

Investment in securities market are subject to market risks. Read all the related documents carefully before investing.

12. DISCLAIMER

Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

13. GRIEVANCE REDRESSAL MECHANISM

In case of any grievance / complaint, an investor should approach the concerned Research Analyst and shall ensure that the grievance is resolved within 30 days.

14. ONLINE DISPUTE RESOLUTION (ODR)

https://smartodr.in/

Important Disclaimer

The information provided is for educational purposes only and does not constitute financial advice.

Risk Disclosure

Raya Capital

Proprietor: Rahul Pahuja
SEBI Registered Research Analyst
SEBI Registration No.: INH000029467

Important Risk Disclosure
  • Investments in securities market are subject to market risks. Read all the related documents carefully before investing.
  • Research reports, recommendations, views and analysis provided by Raya Capital are based on information and analysis available at the time of preparation and are intended for informational and research purposes.
  • Research recommendations do not provide any assurance or guarantee of returns, profits or investment outcomes. Past performance does not necessarily indicate future results.
  • The value and price of securities may fluctuate due to market conditions, economic developments, company-specific factors, regulatory changes and other risks. Investors may lose part or all of their invested capital.
  • Investors should independently evaluate the suitability of any investment or recommendation based on their financial objectives, risk appetite, investment horizon and individual circumstances.
  • Raya Capital does not provide any assurance of returns or risk-free investment and shall not be responsible for losses arising from investment decisions taken by investors based on research recommendations.
  • Investors are advised to take their own investment decisions and, where appropriate, seek independent financial, legal or tax advice.

Important: Registration granted by SEBI, and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Conflict of Interest Policy

Raya Capital

Proprietor: Rahul Pahuja
SEBI Registered Research Analyst
SEBI Registration No.: INH000029467

Registered Office: H-213, Sector-63, Noida – 201301
Email: rayacapital06@gmail.com
Contact No.: 9910117573

1. PURPOSE

Raya Capital is committed to maintaining the independence, objectivity and integrity of its research activities.

The purpose of this Conflict of Interest Policy is to establish a framework for identifying, avoiding, managing and disclosing actual, potential or perceived conflicts of interest that may arise in connection with the research services provided by Raya Capital.

The policy is intended to ensure that the interests of clients are treated fairly and that research recommendations are not improperly influenced by personal, financial, commercial or other interests.

2. SCOPE

This policy applies to Raya Capital and its Proprietor / Principal Officer, Rahul Pahuja, in relation to activities connected with the provision of research services.

The policy covers conflicts that may arise between:

  • Raya Capital and its clients;
  • Rahul Pahuja and clients;
  • Personal or financial interests and research activities;
  • Commercial interests and research activities; and
  • Any other interest that could reasonably affect, or appear to affect, the independence or objectivity of research.
3. WHAT IS A CONFLICT OF INTEREST?

A conflict of interest may arise where a personal, financial, commercial or other interest has the potential to influence, or may reasonably be perceived to influence, the independence, objectivity or fairness of research or recommendations.

A conflict may be:

  • Actual Conflict: A situation where a competing interest is present and may directly affect the objectivity of the research.
  • Potential Conflict: A situation that may develop into an actual conflict in the future.
  • Perceived Conflict: A situation where, even though research remains objective, circumstances may reasonably create an appearance of conflict to an investor or other stakeholder.
4. TYPES OF CONFLICTS

Raya Capital recognises that conflicts may arise from various sources, including:

  • Financial Interests: A financial interest or beneficial interest in a security, issuer or other investment that may be relevant to research or recommendations.
  • Ownership Interests: Ownership or beneficial ownership interests that may create a conflict in relation to a security or issuer being researched.
  • Personal Relationships: Personal or other relationships that could reasonably be expected to influence research or recommendations.
  • Commercial Relationships: Business or commercial relationships with issuers, companies, service providers or other parties that could potentially affect research independence.
  • Other Interests: Any other circumstances that may reasonably be expected to compromise, or appear to compromise, the independence or objectivity of research.
5. IDENTIFICATION OF CONFLICTS

Raya Capital shall seek to identify material conflicts of interest before and during the preparation, review and publication of research.

Relevant circumstances may be considered where they relate to:

  • Securities covered by research;
  • Companies or issuers covered by research;
  • Financial or ownership interests;
  • Personal relationships;
  • Commercial relationships; and
  • Other relevant circumstances.

Where a potential conflict is identified, appropriate steps shall be considered to manage or mitigate the conflict.

6. MANAGEMENT AND MITIGATION OF CONFLICTS

Depending on the nature and materiality of a conflict, Raya Capital may take appropriate measures including:

  • Disclosure: Making the relevant conflict known to clients or investors wherever disclosure is required.
  • Review: Subjecting research to additional review where appropriate.
  • Recusal: Where appropriate, the concerned person may refrain from participating in research or recommendations relating to a particular security or issuer.
  • Restriction: Restricting activities where necessary to protect the independence and objectivity of research.
  • Documentation: Maintaining appropriate records relating to identified conflicts and the measures taken to address them, as required.
7. RESEARCH INDEPENDENCE

Research and recommendations provided by Raya Capital should be based on research, analysis, available information and the applicable research methodology.

Research shall not be improperly influenced by:

  • Commercial considerations;
  • Personal interests;
  • Client pressure;
  • Business-development considerations;
  • External incentives; or
  • Other interests that may compromise research independence.

The interests of clients and the integrity of research shall be given due importance when managing potential conflicts.

8. FINANCIAL INTEREST DISCLOSURE

Raya Capital shall make appropriate disclosures regarding financial interests in securities or issuers where such disclosure is required under the applicable SEBI framework.

Where applicable, the relevant disclosure shall be included in the relevant research report, recommendation or other communication in the manner prescribed.

Raya Capital does not make any blanket representation on the absence of financial interests. Specific disclosures shall be made based on the circumstances applicable to the relevant research.

9. OWNERSHIP / BENEFICIAL INTEREST

Where Rahul Pahuja or any relevant person has an ownership or beneficial interest that gives rise to a disclosure requirement, the applicable disclosure shall be made in accordance with the applicable regulatory framework.

Such information shall be reviewed and disclosed wherever required.

10. COMMERCIAL AND BUSINESS RELATIONSHIPS

Raya Capital shall seek to ensure that commercial or business relationships do not improperly influence the preparation or dissemination of research.

Where a material commercial relationship creates a relevant conflict, appropriate disclosure and mitigation measures shall be considered.

Research recommendations shall remain independent of commercial considerations.

11. GIFTS, BENEFITS AND INDUCEMENTS

Raya Capital shall seek to avoid accepting gifts, benefits, incentives or other inducements that could reasonably be expected to compromise, or appear to compromise, the independence and objectivity of research.

Any permitted arrangements shall be handled in accordance with applicable laws, regulations and internal policies.

12. PERSONAL TRADING

Personal trading and investment activities shall be conducted in a manner that does not improperly influence research activities or misuse confidential or non-public information.

Where required, appropriate safeguards, restrictions or disclosures shall be applied in accordance with the applicable regulatory framework.

13. CONFIDENTIAL AND NON-PUBLIC INFORMATION

Raya Capital shall seek to ensure that confidential or non-public information received in connection with research activities is handled appropriately.

Such information shall not be improperly used for personal benefit or to influence research recommendations.

Any applicable restrictions under securities laws and regulations shall be followed.

14. DISCLOSURES IN RESEARCH REPORTS

Where required under the applicable regulatory framework, research reports issued by Raya Capital shall contain appropriate disclosures relating to:

  • Financial interests;
  • Ownership or beneficial ownership;
  • Material conflicts of interest;
  • Relevant relationships; and
  • Other prescribed matters.

Conflict disclosures shall be made in a clear and transparent manner so that investors can consider them while evaluating the research.

15. INVESTOR TRANSPARENCY

Investors are advised to review the disclosures accompanying research reports and recommendations.

Where a material conflict becomes relevant to a particular research recommendation, the applicable disclosure shall be made in the prescribed manner.

Investors should consider disclosed conflicts while evaluating the research and making investment decisions.

16. GRIEVANCE / CONFLICT-RELATED COMMUNICATION

Investors who have questions regarding a conflict of interest or any disclosure made by Raya Capital may contact:

Rahul Pahuja (Proprietor / Principal Officer)

Email: rayacapital06@gmail.com

Contact No.: 9910117573

Address: H-213, Sector-63, Noida – 201301

Investors may also refer to the firm's Grievance Redressal mechanism available on this website.

17. REGULATORY COMPLIANCE

Raya Capital shall comply with the applicable provisions of the SEBI (Research Analysts) Regulations, 2014, as amended from time to time, and applicable SEBI circulars, directions and requirements relating to conflicts of interest.

The policy shall be interpreted and implemented in accordance with the regulatory framework applicable from time to time.

18. POLICY REVIEW

This policy shall be reviewed periodically and may be updated to reflect:

  • Changes in applicable laws and regulations;
  • Changes in SEBI circulars or directions;
  • Changes in business activities;
  • Changes in internal processes; or
  • Any other circumstances requiring modification.

Last Updated: [Insert Date]

19. IMPORTANT DISCLAIMER

This policy describes the general framework adopted by Raya Capital for identifying, managing and disclosing conflicts of interest.

The existence of a conflict of interest does not, by itself, mean that research is not independent or objective. Where a relevant conflict exists, Raya Capital shall take appropriate steps to manage and disclose the conflict in accordance with applicable requirements.

Specific disclosures may vary depending on the security, issuer, research report, recommendation and circumstances involved.

Terms, Privacy & Refund Policy

Raya Capital

Proprietor: Rahul Pahuja
SEBI Registered Research Analyst
SEBI Registration No.: INH000029467

Registered Office: H-213, Sector-63, Noida – 201301
Email: rayacapital06@gmail.com
Contact No.: 9910117573

1. INTRODUCTION

Welcome to Raya Capital. These Terms of Use ("Terms") govern your access to and use of the website, services, and research reports provided by Raya Capital ("we," "us," or "our"). By accessing or using our services, you agree to be bound by these Terms and our Privacy Policy. If you do not agree, please refrain from using our services.

2. ELIGIBILITY

You must be at least 18 years of age and capable of forming a legally binding contract under the Indian Contract Act, 1872, to use our services. By using our services, you represent and warrant that you meet these eligibility requirements and that all information you provide is accurate and complete.

3. REGISTRATION AND ACCOUNT SECURITY

To access certain research reports or premium services, you may be required to register for an account. You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. You agree to notify us immediately of any unauthorized use of your account.

4. SCOPE OF SERVICES

Raya Capital is a SEBI Registered Research Analyst (Registration No. INH000029467). Our services are limited to providing research reports and recommendations on securities as permitted under the SEBI (Research Analysts) Regulations, 2014. We do not provide execution, custodial, or portfolio management services.

5. FEES AND PAYMENT TERMS

Access to certain services may be subject to payment of fees. All fees are disclosed upfront and must be paid through authorized banking channels (NEFT/RTGS/IMPS/UPI). Fees are inclusive of applicable taxes unless stated otherwise. We reserve the right to modify our fee structure with prior notice.

6. INTELLECTUAL PROPERTY RIGHTS

All content on our website, including research reports, analysis, logos, and trademarks, is the exclusive property of Raya Capital. You are granted a limited, non-exclusive, non-transferable license to use the content for personal, non-commercial purposes only. Redistribution or reproduction is strictly prohibited.

7. USER OBLIGATIONS AND CONDUCT

You agree to use our services in compliance with all applicable laws and regulations. You shall not engage in any activity that interferes with or disrupts our services, including the use of automated systems to scrape data or attempting to breach our security measures.

8. DISCLAIMER OF WARRANTIES

Our research and services are provided on an "as is" basis. While we strive for accuracy, we do not warrant that the information provided is error-free, complete, or timely. Investment in securities is subject to market risks, and past performance is not indicative of future results.

9. LIMITATION OF LIABILITY

To the fullest extent permitted by law, Raya Capital and its proprietor shall not be liable for any direct, indirect, consequential, or incidental damages, including loss of profits or investment losses, arising out of your use of our services or reliance on our research recommendations.

PART II — PRIVACY POLICY

10. COLLECTION OF INFORMATION

We collect personal information that you provide to us, such as your name, email address, phone number, and payment details, when you register for an account or subscribe to our services. We also collect non-personal information, such as browser type and IP address, to improve our website performance.

11. USE OF INFORMATION

The information we collect is used to provide and improve our services, process payments, communicate with you regarding your account or subscriptions, and comply with regulatory requirements. We may also use your contact information to send you research updates and promotional materials.

12. DATA PROTECTION AND SECURITY

We implement appropriate technical and organizational measures to protect your personal information against unauthorized access, loss, or misuse. However, no method of transmission over the internet is 100% secure, and we cannot guarantee absolute security.

13. SHARING OF INFORMATION

We do not sell or rent your personal information to third parties. We may share your information with service providers who assist us in our operations, or when required by law, regulation, or legal process, including requests from SEBI or other regulatory authorities.

14. COOKIES AND TRACKING TECHNOLOGIES

Our website may use cookies and similar tracking technologies to enhance your user experience and analyze website traffic. You can manage your cookie preferences through your browser settings.

PART III — REFUND & CANCELLATION POLICY

17. REFUND POLICY

Fees paid for research services and subscriptions are non-refundable. We encourage you to review our free content and community before subscribing. In exceptional cases, refunds may be considered at the sole discretion of Raya Capital, subject to applicable laws.

18. CANCELLATION POLICY

You may cancel your subscription at any time; however, no refunds will be provided for the remaining period of the subscription. Upon cancellation, you will continue to have access to the services until the end of your current billing cycle.

PART IV — FRAUD & IMPERSONATION PROTECTION

19. PROTECTION AGAINST FRAUD

Raya Capital is committed to protecting its clients from fraudulent activities. We will never ask for your account passwords or sensitive personal information via email or phone. Please be cautious of unsolicited communications claiming to be from us.

20. IMPERSONATION AWARENESS

Be aware of individuals or entities impersonating Raya Capital or its proprietor. Always verify the authenticity of any communication by contacting us through our official channels listed on our website.

PART V — GRIEVANCE REDRESSAL

21. GRIEVANCE REDRESSAL MECHANISM

In case of any grievance or complaint, you should first approach the concerned Research Analyst (Rahul Pahuja) at rayacapital06@gmail.com. We shall ensure that the grievance is resolved within 30 days.

22. SEBI SCORES PORTAL

If the complaint is not redressed satisfactorily, you may lodge a complaint with SEBI on the SCORES portal at https://scores.gov.in. SCORES facilitates tracking the status of the complaint.

23. ONLINE DISPUTE RESOLUTION (ODR)

Alternatively, you can initiate dispute resolution through the SMART ODR Portal at https://smartodr.in, which harnesses online conciliation and arbitration for resolution of disputes in the Indian Securities Market.

24. GOVERNING LAW AND JURISDICTION

These Terms and the Privacy Policy shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts in Noida, Uttar Pradesh.

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

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