Senores Pharma Acquires 14 ANDAs from Dr. Reddy’s to Expand U.S. Market Presence

Senores Pharmaceuticals Limited (SPL), through its wholly-owned subsidiary Senores Pharmaceuticals, Inc., USA (SPI), has signed agreements to acquire 14 Abbreviated New Drug Applications (ANDAs) from Dr. Reddy’s Laboratories (DRL) and its affiliates. The acquisition includes 13 USFDA-approved ANDAs and one pending approval.

Market Potential

The acquired ANDAs have a market opportunity of ~USD 421 million (MAT December 2024) as per IQVIA and around USD 1.13 billion (MAT September 2024) according to Symphony.

The acquisition will be funded using proceeds from SPL’s Initial Public Offering (IPO), aligning with its stated objectives in the Red Herring Prospectus. This move strengthens SPL’s presence in the U.S. generics market.

Commenting on the acquisition, the Managing Director of Senores Pharmaceuticals Limited, Mr Swapnil Shah, said, “We are glad to announce the acquisition of a basket of products from Dr Reddy’s. It spans across various therapeutic areas with growing consumption. The portfolio consists of controlled substances and general category of products.”

He further added, “These products can be distributed through multiple/diverse channels, with large requirements in government, retail and specialty clinics. This Portfolio of products significantly increases our product offering in the US, and also it has a significant value in other Regulated and Semi-Regulated markets of the world.”

About Senores Pharmaceuticals Limited

Senores Pharmaceuticals Limited (Senores) is a global, research-focused pharmaceutical company specialising in the development and manufacturing of a diverse range of pharmaceutical products. It primarily serves regulated and emerging markets, including the U.S. and Canada, across various therapeutic segments and dosage forms.

On March 5, 2025, Senores Pharmaceuticals share price opened at ₹564.00, up from its previous close of ₹562.50. At 9:45 AM, the share price of Senores Pharmaceuticals was trading at ₹576.15, up by 2.43% on the NSE.

Conclusion

With this acquisition, Senores Pharmaceuticals aims to expand its portfolio and enhance its growth trajectory in the U.S. pharmaceutical market.

 

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.

ABB India & UptimeAI Collaborate to Enhance Asset Health & Performance

ABB India Limited’s ABB Motion division has announced a strategic investment in the AI start-up UptimeAI through ABB Motion Ventures.

This investment aims to revolutionise how industrial customers monitor and manage the health and performance of motors, drives, and other critical assets. ABB has taken a minority stake in UptimeAI, though financial details of the investment have not been disclosed.

Strategic Investment to Drive AI-Powered Asset Management

The partnership combines ABB’s industrial expertise with UptimeAI’s advanced machine learning and AI-driven predictive maintenance technology. With over 1,000 failure modes covered by AI/ML algorithms, the collaboration will help customers gain deep insights into asset performance, improve failure predictability, and minimize maintenance costs and operational risks.

Initially, the initiative will focus on heavy asset industries in India, including Cement, Metals, and Water Pipes. By providing tailored AI-powered solutions, ABB and UptimeAI aim to reduce unplanned downtime, enhance efficiency, and drive operational excellence.

Management Commentary

ABB Motion Services R&D Manager and Head of Development IoT and Analytics, Soenke Kock, said, “Through this investment, we reaffirm our commitment to delivering innovative solutions that empower industrial customers to manage their assets effectively and sustainably. By joining forces with UptimeAI, we are applying advanced technology and expert knowledge to strengthen asset health and performance management. With reliable data insights, decision-makers are equipped to identify gaps, optimize energy efficiency, and exercise tighter control over operations, ultimately increasing asset availability and improving profit potential.”

“We are thrilled to partner with ABB Motion to deliver solutions that combine our expertise with their deep industry insights”, added Jagadish Gattu, Founder and CEO, UptimeAI. “By joining forces, we will optimize operations and address the unique challenges faced by industrial customers such as root cause analysis, continuous improvement, and knowledge management.”

Conclusion

This investment reflects ABB’s commitment to digital transformation in the industrial sector, leveraging cutting-edge AI technology to improve reliability and efficiency.

On March 5, 2025, ABB share price opened at ₹5,100.00, up from its previous close of ₹5,191.40. At 10:16 AM, the share price of ABB India was trading at ₹5,255.00, up by 1.23% on the NSE.

 

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.

Solar Industries Secures ₹239 Crore Defence Contract for Indian Army

Solar Industries India Limited announced that its wholly owned subsidiary, Solar Defence and Aerospace Limited (formerly Economic Explosives Limited), has secured a contract from the Ministry of Defence, Government of India.

Details of the Order

The contract is for the supply of Multi-Mode Hand Grenades and is set to be executed within a year. The company stated that the contract is worth ₹239 crore.

This domestic contract underscores Solar Industries’ growing role in India’s defence manufacturing sector. The company has been a key supplier of high-tech defence solutions, aligning with the government’s ‘Make in India’ initiative to strengthen indigenous defence capabilities.

Q3 and 9M FY 2025 Financial Highlights

In Q3 FY25, the company reported a significant 38% year-on-year (YoY) increase in net revenue, reaching ₹1,973 crore compared to ₹1,429 crore in Q3 FY24. The Profit After Tax (PAT) for the quarter also saw strong growth, rising by 52% to ₹338 crore from ₹222 crore in the same period last year.

For the nine-month period of FY25, net revenue stood at ₹5,374 crore, marking a 21% YoY growth from ₹4,459 crore in 9M FY24. PAT for the same period surged by 49%, reaching ₹942 crore compared to ₹633 crore in the previous year.

Conclusion

With this order, Solar Industries continues to expand its presence in the defence sector, demonstrating its capability in supplying advanced weaponry to the armed forces. The successful execution of this contract will further enhance its position as a trusted defence supplier, contributing to national security and self-reliance in military equipment production.

On March 5, 2025, Solar Industries India share price (NSE: SOLARINDS) opened at ₹9,053.00, up from its previous close of ₹9,038.40. At 9:32 AM, the share price of Solar Industries India was trading at ₹9,134.20, up by 1.06% on the NSE.

 

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.

RBL Bank Announces Senior Leadership Appointments for Growth

RBL Bank has announced significant leadership appointments to strengthen its transformation journey and drive sustainable growth. These strategic hires aim to enhance customer experience, operational efficiency, and business expansion.

Narendra Agrawal Joins as President & Head of Branch Banking and Retail Liabilities

Mr Narendra Agrawal has been appointed as President & Head of Branch Banking and Retail Liabilities. With over 25 years of experience across deposits, lending, distribution, and payments, he brings a strong track record of scaling businesses through a digital-first approach. His focus will be on deposit growth, improving customer engagement via an omnichannel strategy, and enhancing integration between branch banking and asset sales.

T.S. Pari Appointed as Chief Operations Officer (COO)

RBL Bank has also appointed Mr T.S. Pari as Chief Operations Officer (COO). With extensive leadership experience in foreign and private sector banks, he will oversee operational efficiencies, customer-centric initiatives, and risk management. He will report to Mr Alok Rastogi, who continues to lead the Bank’s Corporate Centre with a focus on cost optimisation, process simplification, and strengthening control mechanisms.

Speaking on the appointments, the MD & CEO of RBL Bank, R. Subramaniakumar, said, “These appointments reinforce our commitment to attracting top quality industry talent and building a strong leadership pipeline. Narendra and Pari bring extensive expertise in driving business growth, operational excellence, and customer-centric transformation. Their leadership will be instrumental in further strengthening our retail banking franchise and accelerating our execution in strategic priority areas.”

 

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.

Closing Bell: Nifty & Sensex Closed in Red; SBI Leads Gainers on March 4, 2025

On March 4, 2025, the BSE Sensex ended in the red, closing at 72,989.93, down by 0.13%, and the NSE Nifty50 closed at 22,082.65, down by 0.17%.

Sectoral Performance

On Tuesday, Nifty Auto, Nifty Midsmall IT & Telecom and Nifty IT ended in the red. Nifty Media, Nifty PSU Bank, and Nifty Midsmall Healthcare ended in green.

Top Gainers and Losers

On Tuesday, the top gainers on the Nifty included State Bank of India, BPCL and Bharat Electronics Limited. In contrast, the losers were Bajaj Auto, Hero MotoCorp andBajaj Finserv.

Oil Prices

As of March 4, 2025, at 03:06 PM, Brent Crude was trading at $70.68, down by 1.31%.

 

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.

Best Monthly Income Investments in India – March 2025

Generating a stable monthly income can be a key financial goal for many investors, whether they are retirees seeking financial security or individuals looking for passive income. With evolving market conditions and changing interest rates, selecting the right investment options in March 2025 requires a balanced approach between risk and returns.

From fixed-income instruments like Post Office Monthly Income Schemes (POMIS) to market-linked options such as REITs, there are multiple avenues to explore. In this article, we will explore the best investment options available in India for earning a steady monthly income in 2025.

1. Post Office Monthly Income Scheme (POMIS)

The Post Office Monthly Income Scheme remains one of the investment options for risk-averse investors. As a government-backed scheme, it can offer stable returns with guaranteed payouts. In March 2025, POMIS is expected to provide an annual interest rate of around 7.4%, which is paid out monthly.

Interest will be paid upon the completion of each month from the account opening date and will continue until maturity. It is to be noted that if the account holder does not claim the monthly interest, it will not accrue any additional interest.

  • Investment Limit: Up to ₹9 lakh for individuals and ₹15 lakh for joint accounts.
  • Lock-in Period: 5 years.

2. Fixed Deposits (FD) with Monthly Interest Payouts

Bank and corporate Fixed Deposits are a well-known way to secure a monthly income. There are two primary modes for receiving interest. In the cumulative option, interest is compounded quarterly and paid at maturity or auto-renewed. In the non-cumulative option, interest is paid at regular intervals, such as monthly, quarterly, or at maturity.

  • Interest Rates: 6% – 8.5% per annum, depending on the bank or financial institution.
  • Tenure: Ranges from 7 days to 10 years.

3. Real Estate Investment Trusts (REITs)

Real Estate Investment Trusts have gained traction in India as a source of passive income. REITs pool funds to invest in income-generating properties like commercial buildings, offering regular dividends. Most REITs distribute dividends quarterly, though some may pay monthly or semi-annually. The payment frequency typically depends on the REIT’s property portfolio and income generation.

4. Annuity Plans from Insurance Companies

Annuity plans are retirement-focused investments where individuals invest a lump sum and receive fixed payouts either for life or a specified duration. The annuity payouts can be made monthly, quarterly, half-yearly, or annually, based on the option selected at the time of purchase. The payout amount determined at the policy’s inception remains guaranteed for life.

5. Rental Income from Real Estate

Investing in residential or commercial properties can generate monthly rental income. However, it requires a significant upfront investment.

6. Non Convertible Debentures (NCDs)

Non-convertible debentures are fixed-income instruments issued by well-established companies through public offerings to raise long-term capital. Unlike convertible debentures, NCDs cannot be converted into equity or stocks. They typically offer higher interest rates and come with a fixed maturity date, at which the issuer repays the principal along with the accrued interest. Interest payouts are either monthly, quarterly, half-yearly or annually.

Conclusion

Apart from these, there can be several other investment options for monthly income in March 2025. Choosing the right investment for monthly income in March 2025 depends on an individual’s financial goals, risk tolerance, and investment horizon.

A diversified portfolio combining these options can help investors achieve financial stability and consistent income. Before making investment decisions, it is advisable to consult a financial expert to ensure alignment with your long-term financial goals.

 

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.

How a High Credit Score Can Save You Lakhs on Your Home Loan?

Following the Reserve Bank of India’s (RBI) decision to reduce the repo rate by 25 bps to 6.25%, several public sector banks have revised their home loan interest rates. As a result, some banks are now offering repo rate-linked home loans starting at 8.1%.

Credit Score: A Key Factor in Home Loan Interest Rates

Despite the rate cuts, not all borrowers will receive the lowest interest rates. Home loan interest rates are not uniform for everyone; they vary based on the borrower’s credit score.

A credit score is a three-digit numerical representation of a borrower’s credit history. It reflects how well an individual has managed past credit obligations, such as credit card bills, loan repayments, and other financial commitments.

Borrowers with a poor credit history tend to have lower credit scores, which often leads banks to charge them higher interest rates. Conversely, those with excellent credit histories and high credit scores qualify for the lowest available interest rates.

Impact of Credit Score on Home Loan Costs

Banks adjust their home loan interest rates based on credit scores, meaning even a small difference in the score can significantly impact the overall loan burden. A borrower with a credit score of 800 is likely to secure the lowest interest rate, while those with lower scores may have to pay higher rates.

For example, Union Bank of India has set their lowest home loan interest rate at 8.1% for individuals with a credit score of 800 or above. However, if a borrower’s score is 100 points lower (i.e., 700), the applicable interest rate is 8.25%.

Similarly, if a borrower’s credit score is between 700 and 749, the interest rate could be from 8.85% to 9%. This rate keeps getting higher as the credit score keeps decreasing.

Suppose you are taking a home loan of ₹50,00,000 for a tenure of 25 years. If your credit score is 720, then the interest rate could be 8.85%. Using a home loan calculator, you can calculate your monthly EMI. So your monthly home loan EMI will be ₹41,618, and the overall interest amount on your home loan will be ₹74,85,387.

On the other hand, if your credit score is 800, for the same loan amount of ₹50,00,000 for a tenure of 25 years, the interest rate will be 8.1%, meaning your monthly EMI will be ₹38,923, and the overall interest amount on your home loan will be ₹66,76,786.

It’s very clear that having a good credit score can impact your loan interest rates.

Note that the interest rates can vary from bank to bank.

Steps to Improve Credit Score for Better Loan Terms

To secure better home loan interest rates, borrowers should aim to maintain a high credit score by:

  • Paying credit card bills and EMIs on time
  • Keeping credit utilisation low
  • Avoiding multiple loan applications in a short period
  • Regularly checking credit reports for errors and rectifying them

Conclusion

By improving their credit scores, borrowers can reduce their loan burden and take full advantage of RBI’s repo rate cut.

 

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.

Suzlon Share Price Rises 2.75%; Secures 204.75 MW Order from Jindal Renewables

Suzlon Energy has announced a significant order win of 204.75 MW from Jindal Green Wind 1 Pvt. Ltd, a subsidiary of Jindal Renewables.

Details of the Order

This marks Suzlon’s third order from Jindal, further strengthening their partnership in India’s renewable energy sector. The latest deal takes Suzlon’s total commercial and industrial (C&I) orders from Jindal to 907.20 MW, making it the company’s largest-ever C&I project.

Earlier, Suzlon secured two separate orders to power Jindal Steel’s plants in Chhattisgarh and Odisha, adding 702.45 MW of wind energy capacity. With this latest order, Suzlon’s total order book has reached a record 5.9 GW, the highest in its history. Notably, C&I customers now account for 59% of the company’s total orders.

As part of the new contract, Suzlon will supply 65 advanced S144 wind turbine generators (WTGs) with Hybrid Lattice Towers (HLT), each rated at 3.15 MW. The energy generated will be used for captive consumption at steel plants in Chhattisgarh and Odisha, supporting their sustainability goals.

Management Commentary

Commenting on this development, the Vice Chairman of Suzlon Group, Girish Tanti, said, “We’re proud to propel India’s steel decarbonization forward through our strengthened partnership with visionary organisations like Jindal Renewables. Building on our initial successes in Karnataka, we’re now expanding the Low-CO₂ Steel movement to Tamil Nadu, a trailblazer in wind energy. Together, we’re redefining the future of sustainable industrial growth in India.”

Bharat Saxena, President of Jindal Renewables, said, “At Jindal Renewables, we are committed to leading the decarbonisation movement in India’s steel industry. This third order with Suzlon is a clear demonstration of our commitment to sustainable practices and our vision to become the largest de‐carbonisation solution provider.”

JP Chalasani, Chief Executive Officer of Suzlon Group, emphasised the company’s expertise in renewable energy and its commitment to decarbonizing hard-to-abate sectors, such as steel and heavy industries. He highlighted that with the rapid acceleration of industrial growth, the demand for sustainable energy solutions is more crucial than ever. Chalasani stated that Suzlon remains dedicated to providing innovative wind energy solutions that enable industries to lower their carbon footprint while ensuring long-term energy security.

Conclusion

This partnership underscores Suzlon’s growing role in India’s renewable energy sector, helping industries transition to greener operations and reducing carbon emissions.

On March 4, 2025, Suzlon Energy share price (NSE: SUZLON) opened at ₹48.85, down from its previous close of ₹49.78. At 11:16 AM, the share price of Suzlon was trading at ₹51.15, up by 2.75% on the NSE.

 

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.

Bajaj Auto Share Price Hits 52-Week Low; Reports 2% YoY Sales Growth in Feb 2025

Bajaj Auto Limited has been in focus on Tuesday. On March 4, 2025, Bajaj Auto share price (NSE: BAJAJ-AUTO) opened at ₹7,652.10, down from its previous close of ₹7,714.80. At 10:07 AM, the share price of Bajaj Auto was trading at ₹7,512.65, down by 2.62% on the NSE. Notably, the stock price touched its 52-week low today at ₹7,508.05.

On March 3, 2025, the company reported its sales performance for February 2025.

Bajaj Auto’s Sales Performance for February 2025

Bajaj Auto reported a 2% year-on-year growth in total sales for February 2025, reaching 3,52,071 units, compared to 3,46,662 units in February 2024. This growth was primarily driven by an increase in exports, despite a decline in domestic two-wheeler sales.

Two-Wheeler Sales Performance

In the two-wheeler segment, domestic sales declined by 14%, dropping from 1,70,527 units in February 2024 to 1,46,138 units in February 2025. However, exports saw a 23% growth, rising from 1,24,157 units to 1,53,280 units. As a result, the total two-wheeler sales for the month stood at 2,99,418 units, reflecting a marginal 2% increase from the previous year.

Commercial Vehicle Sales Performance

The commercial vehicle segment experienced a growth of 1%, with total sales increasing from 51,978 units in February 2024 to 52,653 units in February 2025. Domestic commercial vehicle sales improved by 3%, reaching 37,277 units, while exports dipped slightly by 2% to 15,376 units.

Overall Domestic vs. Export Sales

Bajaj Auto’s domestic sales across both two-wheelers and commercial vehicles declined by 11%, totaling 1,83,415 units in February 2025 compared to 2,06,894 units in February 2024. However, export sales surged by 21%, climbing from 1,39,768 units to 1,68,656 units.

Year-to-Date (Apr-Feb) Sales Performance

For the period from April 2024 to February 2025, Bajaj Auto recorded a 7% year-on-year growth in total sales, reaching 42,81,143 units, up from 39,85,029 units in the same period last year.

In the two-wheeler segment, domestic sales grew by 3% to 21,24,590 units, while exports increased significantly by 15% to 15,41,987 units. This resulted in a total of 36,66,577 two-wheelers sold, reflecting a 7% growth.

For commercial vehicles, domestic sales rose by 3% to 4,41,621 units, while exports grew by 20% to 1,72,945 units, leading to an overall 8% increase in sales for this category.

Conclusion

Despite challenges in the domestic market, Bajaj Auto continues to benefit from export demand, particularly in the two-wheeler segment.

 

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.

Poonawalla Fincorp Unveils 24×7 Digital Personal Loan for Salaried Professionals

Poonawalla Fincorp Limited has introduced PL Prime Digital 24×7, a fully digital personal loan product aimed at salaried professionals.

This industry-first offering enables eligible customers from prime corporates to access loans of up to ₹15 lakh instantly, with approvals in just 15 minutes. The process is entirely paperless, ensuring a seamless borrowing experience without collateral.

Available through the company’s mobile app, website, and authorised partners, this product is designed to provide convenience and flexibility, including extended EMI tenures.

Addressing the Growing Demand for Unsecured Credit

The personal loan market in India has expanded by 27% year-on-year, highlighting a growing preference for unsecured credit to manage both planned and unexpected expenses.

With PL Prime Digital 24×7, Poonawalla Fincorp reinforces its commitment to providing accessible and efficient lending solutions while maintaining a risk-first lending approach. The product’s pricing is adjusted based on risk calibration, ensuring a balance between credit accessibility and financial prudence.

Leveraging Technology for Enhanced Customer Experience

Poonawalla Fincorp is integrating disruptive technology solutions to simplify lending, enhance customer satisfaction, and improve overall user experience. The company is focused on expanding its digital offerings to meet evolving credit demands while maintaining efficiency and security in the lending process.

Commenting on the launch, the MD & CEO of Poonawalla Fincorp, Mr Arvind Kapil, said, “Access to credit should be seamless, efficient, and tailored to the fast-moving lives of professionals. Whether it’s an urgent financial requirement or a planned expense, PL Prime Digital 24×7 is an absolute industry-first solution for prime customers. We are addressing the demand for an end-to-end digital solution that eliminates the paperwork and delays, making funds available when they are needed the most.”

He further added, “This initiative is built on our unwavering commitment to a risk-first approach, deep customer insights and accelerated efforts to consistently leverage technology solutions to transform the lending landscape. By providing 24/7 accessibility, instant approvals, and a fully digital journey, we aim to empower salaried professionals of prime corporates with a reliable financial solution and set a new benchmark in digital lending.”

Conclusion

The company stated that the launch of PL Prime Digital 24×7 strengthens the company’s digital-first strategy and complements the recently introduced PL Prime Business, further expanding its reach in the personal lending sector.

On March 4, 2025, Poonawalla Fincorp share price (NSE: POONAWALLA) opened at ₹268.00, down from its previous close of ₹273.80. At 9:56 AM, the share price of Poonawalla was trading at ₹279.50, up by 2.08% on the NSE. Notably, the stock price touched its 52-week low today at ₹267.20.

 

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.