UAN Activation Deadline for EPFO’s ELI Scheme Extended to January 15, 2025

The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar with bank accounts to January 15, 2025. This is mandatory to avail of benefits under the Employment Linked Incentive (ELI) Scheme. Initially set for November 30, 2024, the deadline was extended twice before the latest announcement.

What is the ELI Scheme?

The Employment Linked Incentive (ELI) Scheme was introduced in the Union Budget 2024 to promote job creation. It includes three components:

  1. Scheme A

Benefits first-time employees with a direct benefit transfer of one month’s wage (up to ₹15,000) in 3 instalments.

  1. Scheme B

Focuses on incentivising employment in manufacturing with support for EPFO contributions over 4 years.

  1. Scheme C

Supports employers by reimbursing up to ₹3,000 per month for 2 years for additional employees earning up to ₹1 lakh per month.

Steps to Activate UAN via Aadhaar OTP

Follow these steps to activate your UAN and link it with Aadhaar:

  1. Visit the EPFO Member Portal.
  2. Click on “Activate UAN” under the “Important Links” section.
  3. Provide your UAN, Aadhaar number, name, date of birth, and Aadhaar-linked mobile number.
  4. Verify the details and agree to Aadhaar’s OTP verification.
  5. Click “Get Authorisation PIN” to receive an OTP.
  6. Enter the OTP and submit.
  7. A password will be sent to your registered mobile number upon successful activation.

Read More About How to Activate UAN Online?

Why UAN Activation is Important

UAN activation and Aadhaar seeding are crucial as ELI scheme benefits will be disbursed through Direct Benefit Transfer (DBT) to employees’ accounts. Employers are urged to ensure all employees, especially new joiners, complete this process.

ELI Scheme Features

1.First-Time Employees

1-month salary (up to ₹15,000) for new workers entering formal jobs.

2. Manufacturing Job Creation

Incentives for hiring first-time employees, including EPFO contribution support.

3. Employer Support

Reimbursement of EPFO contributions for additional employees in all sectors.

While the ELI scheme was announced in the Union Budget 2024, its effective date and specific details are yet to be officially notified.

Act Now: Avoid last-minute hassles—activate your UAN and link Aadhaar before January 15, 2025, to enjoy the scheme’s benefits.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Closing Bell: Sensex Sinks 1,031 Points, Nifty Below 23,100 on January 13

The BSE Sensex plunged by 1,031.65 points (1.35%) on Monday, closing at 76,347.26. The 30-share index fluctuated between a high of 77,128.35 and a low of 76,249.72 during the session.

The NSE Nifty50 also ended the day lower, shedding 345.55 points (1.47%) to settle at 23,085.95. The index reached a high of 23,340.95 and a low of 23,047.25.

Top Gainers and Losers

The bears took control, with 46 out of 50 Nifty50 stocks closing in the red. Adani Enterprises, Trent, BPCL, Power Grid Corporation, and Bharat Electronics led the losses, falling by as much as 6.21%. However, 4 stocks—Axis Bank, TCS, Hindustan Unilever, and IndusInd Bank—managed to gain up to 0.78%.

The broader indices mirrored the benchmarks, with the Nifty Smallcap100 and Nifty Midcap100 each tumbling over 4%.

Sectoral Performance

Sectoral indices on the NSE platform painted a grim picture, as all sectors closed in negative territory, reflecting the widespread bearish sentiment.

Oil Prices

As of January 13, 2025, at 03:57 PM, Brent Crude was trading at $80.93, up by 1.47%.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Budget 2025: CII Proposes 10-Point Plan to Simplify Business and Boost Transparency

The Confederation of Indian Industry (CII) has presented a 10-point agenda to the government ahead of Budget 2025. The recommendations focus on reducing the compliance burden, simplifying regulatory processes, and enhancing transparency to improve the ease of doing business in India.

Key Recommendations by CII

1. Streamlined Regulatory Approvals

CII suggests that all regulatory approvals across central, state, and local levels should be processed exclusively through the National Single Window System to simplify and speed up the process.

2. Faster Dispute Resolution

To address delays in legal proceedings, the capacity of courts should be enhanced, and greater emphasis should be placed on alternative dispute resolution (ADR) mechanisms for quicker outcomes.

3. Unified Environmental Compliance Framework

CII recommends creating a single, consolidated document for environmental compliance requirements to streamline processes and reduce complexities.

4. Better Land Access for Businesses

The industry body proposes incentivising states to establish an online integrated land authority that digitises land records, tracks disputes and improves land availability for new and expanding businesses. CII also suggests upgrading the India Industrial Land Bank (IILB) into a national-level land bank with central funding.

5. Timely Public Services Delivery

CII advises the government to pass a law mandating the timely processing of industry applications. If deadlines are missed, approvals should be automatically granted, ensuring accountability and efficiency in public services.

6. Enhanced Judicial Data and Tribunal Management

The scope of the National Judicial Data Grid (NJDG), currently tracking pending court cases, should include tribunal data, which forms a significant part of the backlog.

7. Simplified Labour Compliance

Labour laws remain cumbersome. CII urges the expansion of the Shram Suvidha Portal to cover all central and state labour law compliances, making it a one-stop solution for businesses.

8. Improved Trade Facilitation

The Authorised Economic Operator (AEO) programme, which provides faster customs clearance, should be made easier to access and more appealing to boost international trade.

9. Reduced Tax Disputes

CII highlights the need to minimise tax litigation by addressing case backlogs at the Commissioner of Income Tax (Appeals) level and strengthening mechanisms like Advance Pricing Agreements (APAs) and dispute resolution boards.

10. Focus on Ease of Doing Business

CII emphasises the importance of maintaining momentum in improving the ease of doing business by reducing compliance burdens related to land, labour, environment, and taxes.

CII’s Vision for Economic Growth

CII Director General Chandrajit Banerjee stated that simplifying regulations, reducing compliance, and improving transparency are critical to boosting competitiveness, driving growth, and generating employment. These reforms aim to create a more business-friendly environment, benefiting industries and the overall economy.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Budget 2025: Will Minimum EPS Pension Rise to ₹7,500? Here’s What You Need to Know

Private sector employees covered by the Employees’ Provident Fund Organisation (EPFO) have been pushing for an increase in their minimum pension, which is currently set at ₹1,000 per month. After years of campaigning, a delegation of EPS-95 pensioners met Finance Minister Nirmala Sitharaman on January 10 to ask for a raise to ₹7,500 per month, along with dearness allowance (DA).

The Current Situation

The Employees’ Pension Scheme (EPS-95), managed by the EPFO, has had the minimum pension set at ₹1,000 per month since 2014. Despite this, pensioners have long been demanding an increase. They also want DA and free medical treatment for themselves and their spouses.

Government’s Response to Pensioners’ Demands

During the meeting with the Finance Minister, Sitharaman assured the delegation that their concerns would be looked into with care. Although this brings hope to the pensioners, they are urging the government to act quickly and announce a minimum pension of ₹7,500 with DA in the upcoming budget.

Trade Unions Advocate for Lower Pension Increase

While pensioners are asking for a ₹7,500 pension, trade unions are proposing a smaller increase. They are calling for the minimum pension to be raised to ₹5,000 per month. However, the EPS-95 National Agitation Committee has criticised this proposal, saying it is insufficient to cover the basic needs of pensioners.

Ongoing Struggles and Inadequate Pensions

Despite the 2014 government decision to set the minimum pension at ₹1,000, more than 36.6 lakh pensioners still receive less than this amount. The EPS-95 pensioners argue that this amount is not enough, which is why they continue to push for a substantial increase.

How the EPF Contribution Works

EPF members contribute 12% of their basic pay towards the provident fund, with employers matching the contribution. Of this, 8.33% goes to the EPS, while 3.67% is allocated to the EPF scheme. Pensioners believe that, given the contributions made, the pension should be significantly higher than the current ₹1,000.

The Demand for a Fairer Pension Increase

The EPS-95 National Agitation Committee has criticised the unions for pushing for a ₹5,000 minimum pension, calling it unfair and insufficient. They argue that pensioners deserve a higher pension to meet their needs and ensure their well-being in retirement.

Pensioners are hopeful that the government will make a strong move towards increasing their pensions in the upcoming budget, which could significantly improve their financial situation.

For more information into Deloitte’s expectations for the Union Budget 2025-26, click here.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

 

 

MUST Check in ITR Filing: These Cash Transactions Could Trigger 100% Penalty!

Tax authorities are tightening their scrutiny on cash transactions. As the government works to reduce cash flow and encourage digital payments, taxpayers must be cautious about certain transactions that could lead to heavy penalties.

Government’s Focus on Discouraging Cash Transactions

The Income Tax Department recently released a brochure to inform the public about the risks of cash transactions. They emphasised the importance of reducing cash dealings to avoid penalties, particularly for small transactions.

Penalties for Cash Transactions Under the Income Tax Act

Section 269ST of the Income Tax Act aims to curb undeclared income by limiting cash transactions. Violating these rules can lead to penalties as high as 100% of the transaction amount. The deadline to file ITR for the assessment year 2025-26 is July 31, so it’s important to be aware of these rules.

Top 5 Cash Transactions That May Attract Penalties

Here are the top cash transactions that can trigger income tax scrutiny:

  1. Loans, Deposits, and Advances (Section 269SS)
    • Cash transactions over ₹20,000 for loans or deposits are prohibited.
    • Penalty: Equal to the cash amount involved.
  2. Receiving Cash Above ₹2 Lakh (Section 269ST)
    • Individuals cannot accept cash exceeding ₹2 lakh in a single day or across related transactions.
    • Penalty: Equal to the amount received.
  3. Repayment of Loans and Deposits (Section 269T)
    • Cash repayments above ₹20,000 are not allowed.
  4. Business Expenses (Section 40A(3))
    • Cash payments exceeding ₹10,000 (₹35,000 for transporters) are not deductible for business expenses.
  5. Donations (Section 80G)
    • Cash donations above ₹2,000 are not eligible for tax deductions.

Why It’s Important to Avoid Cash Transactions

Tax experts advise taxpayers to be vigilant and avoid cash transactions wherever possible. Non-compliance with these regulations can lead to severe penalties, reinforcing the government’s push for a more cashless economy.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

IREDA Share Price Jumps Over 3% Amid ₹4,500 Crore QIP Plans

IREDA plans to launch its ₹4,500 crore Qualified Institutional Placement (QIP) in the current January-March quarter, as confirmed by IREDA CMD Pradip Kumar Das. While the exact details are yet to be disclosed, Das emphasised the need to maintain investor confidence as the company moves forward with the QIP.

The government, which currently holds a 75% stake in IREDA, is likely to dilute up to 7% of its stake through this initiative.

Retail Subsidiary in the Pipeline

Last year, IREDA approved the establishment of a retail subsidiary and has submitted a business plan to the Reserve Bank of India (RBI) for approval. Das stated that while the timeline depends on RBI’s decision, the company aims to begin operations by the end of this fiscal year or early next.

Das highlighted that transitioning from project loans to retail loans is a significant shift and plans to adopt a “slow but steady” approach in this area.

Asset Quality Deterioration in the December Quarter

During the December quarter, IREDA’s asset quality saw a decline:

  • Gross NPA rose to 2.68% from 2.19% in September.
  • Net NPA increased to 1.5% from 1.04%.

A significant portion of the ₹433 crore rise in Gross NPA came from a waste and bio-energy account slipping into non-performing assets. However, Das expects NPAs to improve in the coming quarters.

Stock Performance

IREDA share price is trading at ₹207.94, up by ₹6.79 (3.38%) as of 10:52 AM on January 13. Over the past year, the stock has surged by ₹86.19, reflecting a 70.76% increase.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

 

FPIs Withdraw ₹22,194 Crore in January Amid Weak Market Sentiment

Foreign Portfolio Investors (FPIs) have pulled out ₹22,194 crore from Indian equities as of January 10, 2025. This follows a net inflow of ₹15,446 crore in December 2024, indicating a sharp reversal in investor sentiment.

Key Reasons for FPI Withdrawal

The significant sell-off by FPIs is driven by several global and domestic factors, including:

  • Weak Earnings Outlook

Investors expect subdued corporate earnings this season.

  • Rising US Dollar

The dollar index has surged above 109, reducing the appeal of Indian equities.

  • Higher US Bond Yields

The 10-year US bond yield has risen above 4.6%, diverting capital from emerging markets like India.

  • Economic Concerns

Slow GDP growth, high inflation, and uncertainty around interest rate cuts in India have added to the cautious sentiment.

  • Rich Valuations

Indian markets are seen as overvalued compared to other emerging markets.

  • Tariff War Fears

Concerns over global trade disruptions during Donald Trump’s presidency are also weighing on investor confidence.

FPI Activity Trends

FPIs have been net sellers on most trading days in January, barring January 2. This aligns with their cautious stance throughout 2024, which saw net inflows of only ₹427 crore—a stark contrast to the ₹1.71 lakh crore inflows recorded in 2023.

Outlook

The ongoing FPI outflows highlight concerns over India’s near-term market outlook, which is influenced by global economic conditions and domestic challenges. A stronger dollar and rising US yields may continue to pressure foreign investments in the coming months.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Government Boosts Gas Supply to IGL, Adani Total and Mahanagar Gas

The government has partially restored the allocation of affordable natural gas (APM gas) to city gas retailers, including Indraprastha Gas Ltd (IGL), Adani Total Gas, and Mahanagar Gas Ltd. This move follows a significant reduction in gas supplies in late 2024, which had forced retailers to increase prices and rely on costlier alternatives.

APM Gas Cuts and Price Impact

In October and November 2024, the government reduced the supply of APM gas by up to 40%, citing limited production from older fields like Mumbai High and Bassein. As a result, city gas retailers raised CNG prices by ₹2-3 per kg, making it less attractive compared to diesel.

Revised Allocations Effective January 2025

On December 31, 2024, the Ministry of Petroleum and Natural Gas announced a reallocation of gas supplies. It diverted 1.27 million standard cubic meters per day (mmscmd) of gas—previously used for LPG production—to the CNG and piped gas segments for the January-March 2025 quarter. This reallocation aims to stabilise the market and reduce costs for city gas retailers.

Starting January 16, 2025, gas allocations to city gas companies have been revised:

  • IGL: Allocation increased by 31%, raising the share of APM gas for CNG from 37% to 51%.
  • Adani Total Gas: Allocation increased by 20%.
  • Mahanagar Gas: Allocation increased by 26%, raising the share of APM gas for CNG to 51%.

These changes are expected to lower retail prices and positively impact profitability.

Challenges for GAIL and ONGC

To accommodate the increased allocation for city gas retailers, state-owned GAIL and ONGC will need to use costlier gas from new fields or imported liquefied natural gas (LNG) for LPG production. The additional production costs are likely to be subsidised by the government.

Supply Restoration and Future Outlook

The government is restoring about half of the previously cut supply and plans further restoration as new wells and fields, such as Ramnad, begin production. However, declining production from older fields, which supply APM gas, continues to challenge the sector, with annual output falling by approximately 5%.

Despite these challenges, the increased APM gas allocation offers relief to city gas retailers and is expected to stabilise the CNG and piped cooking gas segments in the near term.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Bank Holidays for Lohri and Makar Sankranti 2025: Are Banks Closed?

The bank holidays in January 2025 are out. Many people are curious to know if banks will remain closed during the festivals of Lohri (January 13) and Makar Sankranti (January 14). Here’s what you need to know.

Are Lohri and Makar Sankranti Bank Holidays?

Lohri (January 13)

Banks will remain open on Lohri. It is not a declared holiday for banks.

Makar Sankranti (January 14)

Banks will be closed in certain states for Makar Sankranti and similar festivals, such as Pongal, Maghe Sankranti, and Magh Bihu. States where banks will observe a holiday include:

  • Ahmedabad
  • Bengaluru
  • Bhubaneswar
  • Chennai
  • Gangtok
  • Guwahati
  • Hyderabad (Andhra Pradesh and Telangana)
  • Itanagar
  • Kanpur
  • Lucknow

Bank Holidays in January 2025

January has 13 holidays, including weekends. These holidays vary by state. Below is the list of key dates:

  • January 1: New Year’s Day/Loosong/Namsoong (Holiday in Aizawl, Chennai, Gangtok, Imphal, Itanagar, Kohima, Kolkata, Shillong)
  • January 2: Loosong/Namsoong (Holiday in Aizawl, Gangtok)
  • January 6: Sri Guru Gobind Singh’s Birthday (Holiday in Chandigarh)
  • January 11: Second Saturday and regional holidays (Holiday in Imphal, Aizawl)
  • January 12: Sunday
  • January 14: Makar Sankranti/Uttarayana/Pongal/Magh Bihu (Holidays in specific states mentioned above)
  • January 15: Thiruvalluvar Day (Holiday in Chennai)
  • January 16: Uzhavar Thirunal (Holiday in Chennai)
  • January 19: Sunday
  • January 23: Birthday of Netaji Subhas Chandra Bose/Vir Surendrasai Jayanti (Holiday in Agartala, Bhubaneswar, Kolkata)
  • January 25: Fourth Saturday
  • January 26: Republic Day

ATM and Online Banking Services

Even on bank holidays, ATMs and online banking services are available for customers. You can withdraw cash and complete online transactions without interruption unless prior notifications specify service unavailability.

How Are Bank Holidays Decided?

Bank holidays are announced by the Reserve Bank of India (RBI) in coordination with state governments. These holidays take into account:

  • National and regional festivals
  • Religious and cultural observances
  • Operational requirements of banks

The RBI shares the official holiday calendar through its website and informs banks and financial institutions accordingly.

It’s always a good idea to check with your local bank branch for specific holiday schedules to plan your financial activities better.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Corporate Actions in Focus: Dividends, Stock Splits, and Bonus Issues

This week on Dalal Street is packed with shareholder-centric events, including dividends, stock splits, and bonus share issuances. Several major companies, such as Tata Consultancy Services (TCS), Kitex Garments, and Jai Balaji Industries, have planned key corporate actions aimed at rewarding shareholders and improving market liquidity. Here’s a detailed breakdown of what’s in store.

Upcoming Corporate Actions This Week

Category Company Name Details Ex-Date
Dividends CESC Ltd Interim dividend of ₹4.5/share January 16, 2024
PCBL Ltd Interim dividend of ₹5.5/share January 16, 2024
TCS Interim dividend of ₹10/share + ₹36 special dividend January 17, 2024
Vantage Knowledge Academy Interim dividend of ₹0.1/share January 17, 2024
Stock Splits Shardul Securities Face value from ₹10 to ₹2 January 13, 2024
Regis Industries Face value from ₹10 to ₹1 January 16, 2024
Arunjyoti Bio Ventures Face value from ₹10 to ₹1 January 17, 2024
Jai Balaji Industries Face value from ₹10 to ₹2 January 17, 2024
Bonus Issues Kitex Garments 2:1 bonus shares January 17, 2024
Sattva Sukun Lifecare 3:5 bonus shares January 17, 2024

Dividend Announcements

Next week, many prominent companies will trade ex-dividend, which means their share prices will adjust to exclude the value of the declared dividend payouts. Here are the details:

Trading Ex-Dividend on January 16, 2024

  • CESC Ltd: CESC has declared an interim dividend of ₹4.5 per share for its shareholders.
  • PCBL Ltd: PCBL’s shareholders will receive an interim dividend of ₹5.5 per share.

Trading Ex-Dividend on January 17, 2024

Tata Consultancy Services (TCS)

  • TCS has announced an interim dividend of ₹10 per share.
  • Additionally, a special dividend of ₹36 per share has been declared, further enhancing shareholder returns.

Vantage Knowledge Academy Ltd

    •  Vantage Knowledge Academy has declared an interim dividend of ₹0.1 per share, reflecting its commitment to sharing profits with its investors.

Stock Splits

Stock splits are corporate actions that aim to increase share liquidity by reducing the face value of existing shares. This adjustment often makes the shares more affordable and accessible to a broader range of investors. The following companies have announced stock splits for next week:

Trading Ex-Split on January 13, 2024

  • Shardul Securities Ltd: The face value of shares will be reduced from ₹10 to ₹2, effectively increasing the number of shares in circulation.

Trading Ex-Split on January 16, 2024

  • Regis Industries Ltd: The company will undergo a stock split, reducing the face value from ₹10 to ₹1 per share.

Trading Ex-Split on January 17, 2024:

  • Arunjyoti Bio Ventures Ltd: This company will execute a stock split, reducing the face value from ₹10 to ₹1 per share.
  • Jai Balaji Industries Ltd: The company has announced a stock split that will lower the face value of shares from ₹10 to ₹2.

Bonus Issues

A bonus issue is a corporate action where companies distribute additional shares to their existing shareholders at no additional cost. This is often done to improve liquidity and enhance shareholder value. The following companies have declared bonus issues for next week:

Effective January 17, 2024

    • Kitex Garments Ltd: Shareholders will receive bonus shares in a 2:1 ratio, meaning two additional shares for every one share held.
    • Sattva Sukun Lifecare Ltd: The company will issue bonus shares in a 3:5 ratio, providing three additional shares for every five shares held.

Other Corporate Actions

In addition to dividends, stock splits, and bonus issues, other significant corporate actions are scheduled for the coming days. These include rights issues and income distributions:

January 14, 2024

  • GTT Data Solutions Ltd: The company has announced a rights issue of equity shares, providing existing shareholders with an opportunity to buy additional shares at a discounted price.
  • Energy Infrastructure Trust: This trust will carry out an income distribution, rewarding its investors.

January 15, 2024

  • California Software Co Ltd: The company has scheduled a rights issue of equity shares to raise additional funds from existing shareholders.

January 16, 2024

  • Ultracab (India) Ltd: Shareholders can participate in the company’s rights issue of equity shares.

These corporate actions reflect the companies’ efforts to reward their shareholders and enhance market engagement. Investors who hold shares by the record date will be eligible to benefit from these announcements, making this a crucial week for market participants to monitor.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in securities market are subject to market risks, read all the related documents carefully before investing.