Unclaimed Deposits Over ₹78,000 Crore: Easier Process to Claim Funds Starting April 1

As of March 2024, unclaimed deposits across Indian banks have amassed a staggering ₹78,213 crore, marking a 26% increase from the previous year. These funds, which have remained inactive for several years, belong to account holders or their nominees who have either forgotten or been unable to access them. To address this issue, banks are likely to implement a simplified process to make it easier for individuals to reclaim their funds.

RBI Guidelines and Simplified Process

According to a news report, from April 1, 2024, banks across the country will adopt new guidelines issued by the Reserve Bank of India (RBI) for unclaimed deposits and inactive accounts. The new process aims to standardise the reclamation of funds and improve transparency. The most notable change is the requirement for banks to display details of unclaimed deposits on their websites, which include key account holder information and provide a public search feature for easy access.

The new format would involve a streamlined application and declaration process. This will include a set of standardised documents required for deposit reclamation, ensuring that account holders or their nominees can quickly and efficiently submit claims.

How Will the Process Work?

Under the new process, account holders or nominees will need to provide basic personal information, such as their name, mobile number, and address. With this information, the respective bank branch will verify the details and process the application for the unclaimed deposits. This development is designed to simplify the existing system, which currently requires customers to check unclaimed deposits via the RBI’s UDGAM portal and then visit their bank branch to claim the funds.

As per a news report, the new process will be fully operational by FY26, when an online mechanism will be implemented for even easier retrieval of unclaimed funds.

Working Group and Standardised Formats

A working group was established last year, comprising senior bankers from state-run institutions, after consultations with the RBI, government officials, and other stakeholders. This group’s purpose was to propose methods for expediting the settlement of unclaimed funds. The standardised process, which has been developed by public sector banks, will also be made available to private sector banks through the Indian Banks’ Association.

Impact of the Banking Laws (Amendment) Bill, 2024

The recent Banking Laws (Amendment) Bill, 2024, introduced in August, has further simplified the process for reclaiming unclaimed funds by allowing up to four nominees per bank account. This is a significant increase from the previous limit of just one nominee. This amendment aims to ensure that more people are able to access funds in the event of an account holder’s death.

Government and RBI Initiatives

In addition to the new banking guidelines, Finance Minister Nirmala Sitharaman has directed financial regulators to initiate a special drive to settle unclaimed deposits. This drive will extend across various sectors, including banks, shares, dividends, mutual funds, and insurance. The initiative reflects the government’s commitment to addressing the issue of unclaimed funds, benefiting millions of account holders and nominees.

Conclusion

The new guidelines and streamlined process for unclaimed deposits offer a positive step forward in ensuring that account holders and their nominees can easily access funds that have long been dormant. With improved transparency, simplified procedures, and the introduction of a more efficient online retrieval mechanism, individuals will soon have a more straightforward way to recover their unclaimed deposits.

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.

Parag Parikh Flexi Cap Fund to Revise Total Expense Ratio from April 1, 2025

In a move aimed at reducing costs for investors, Parag Parikh Flexi Cap Fund, managed by PPFAS Mutual Fund, has announced a reduction in the base Total Expense Ratio (TER) for its regular plan. 

The new base TER, which will be set at 1.15%, marks a decrease from the current 1.20%. This change is scheduled to take effect on April 1, 2025. This revision could provide long-term investors with potential cost savings, improving their overall returns.

What is the Total Expense Ratio (TER)?

The Total Expense Ratio (TER) is a key metric for evaluating the costs associated with a mutual fund scheme. It encompasses various operating expenses involved in managing the fund, such as investment management fees, administrative costs, marketing and advertising expenses, transaction costs, and more. Essentially, it reflects the percentage of a fund’s assets that go toward covering these expenses.

According to the Association of Mutual Funds in India (AMFI), the TER is calculated as a percentage of the fund’s average Net Asset Value (NAV). The fund’s NAV is disclosed after deducting these expenses.

The expenses that contribute to the TER include:

  • Investment management fees
  • Sales and marketing expenses
  • Registrar and custodian fees
  • Transaction and audit costs
  • Administrative expenses

As per SEBI (Securities and Exchange Board of India) guidelines, mutual funds are allowed to charge certain operating costs for managing a fund scheme, but these charges must be in line with the regulatory caps.

Parag Parikh Flexi Cap Fund’s Revision

PPFAS Mutual Fund has communicated this change to its unitholders via a notice-cum-addendum. The notice highlights that the reduction in the base TER is well within the SEBI-prescribed limits, ensuring regulatory compliance.

It is important to note that the base TER mentioned does not include additional expenses such as those outlined in Regulations 52(6A)(b) and 52(6A)(c) of SEBI’s Mutual Fund Regulations, 1996, nor does it factor in GST on management fees.

Impact of the TER Reduction

The reduction in TER from 1.20% to 1.15% may seem small, but over time, even such modest reductions can result in significant cost savings for investors, particularly for those with long-term holdings. These savings can accumulate and potentially enhance the overall returns of the fund.

Investors should note that the change will take effect from April 1, 2025, so it is advisable for them to consider how this may impact their investment decisions going forward.

About Parag Parikh Flexi Cap Fund

Parag Parikh Flexi Cap Fund is an open-ended dynamic equity scheme, known for investing across a range of stocks in large-cap, mid-cap, and small-cap categories. Its objective is to generate long-term capital growth from an actively managed portfolio, primarily composed of equity and equity-related securities.

The fund also invests in Indian equities, foreign equities, related instruments, and debt securities to diversify and optimise returns for its investors.

As of February 28, 2025, Parag Parikh Flexi Cap Fund has emerged as the largest flexi cap fund in terms of assets under management, with a total of ₹88,004 crore in assets. The scheme is benchmarked against the NIFTY 500 (TRI) index. The minimum investment requirement for both lump sum and SIP (Systematic Investment Plan) is ₹1,000.

Conclusion

The reduction in the base TER for Parag Parikh Flexi Cap Fund signifies the fund house’s commitment to enhancing value for investors by lowering the cost of investment management. While this revision is a small change, it could have a positive impact on long-term investors, especially those in regular plans, by offering potential savings on the cost of the investment. With its strong performance and diverse investment strategy, the fund remains a popular choice for investors seeking long-term growth.

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. 

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

GNG Electronics Files DRHP for ₹450 Crore IPO with SEBI

GNG Electronics Ltd, a Mumbai-based refurbishing company, has taken a significant step towards its public listing by filing preliminary papers with the Securities and Exchange Board of India (SEBI). The company plans to raise ₹450 crore through an initial public offering (IPO), which will include both a fresh issue and an offer-for-sale (OFS).

IPO Details and Fund Utilisation

GNG Electronics Ltd. has submitted its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹450 crore through an initial public offering (IPO). The issue includes a fresh issue and an offer-for-sale (OFS) of up to 51 lakh shares.

Promoters Sharad Khandelwal and Vidhi Sharad Khandelwal, who each hold an 18.5% stake, will divest 35,000 shares via the OFS. Amiable Electronics Pvt., the largest shareholder with a 57.29% stake, will offload the remaining 50.03 lakh shares.

From the fresh issue, ₹320 crore will be allocated towards debt reduction, while the balance will be used for general corporate purposes. As of September 2024, the company’s borrowings stood at nearly ₹500 crore. The IPO is being managed by Motilal Oswal Investment Advisors Ltd., IIFL Capital Services Ltd., and JM Financial Ltd.

Business Operations and Financial Performance

GNG Electronics specialises in refurbishing laptops, desktops, and other ICT devices under the brand ‘Electronics Bazaar.’ It has a strong presence in India, the US, Europe, Africa, and the UAE. The company promotes a repair-over-replacement strategy, offering cost benefits and sustainability by reducing electronic waste.

In fiscal 2024, GNG Electronics reported revenue of ₹1,138 crore and a net profit of ₹52.3 crore. Laptop sales contributed nearly 68% of the company’s revenue. Its Indian operations generated ₹467 crore in sales, while international markets brought in ₹660 crore.

Conclusion

With a strong presence in the refurbishing sector and a focus on sustainability, GNG Electronics aims to utilise the IPO proceeds to strengthen its financial position. The offering will provide investors with an opportunity to participate in a growing segment with global reach.

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. 

Coal India Forms JV with GAIL to Enter Synthetic Natural Gas Sector

Coal India Ltd (CIL), a Maharatna public sector company, has officially incorporated Coal Gas India Ltd., a joint venture (JV) with GAIL (India) Ltd. This move marks Coal India’s expansion into the synthetic natural gas (SNG) sector, aligning with its diversification strategy.

Formation and Structure of Coal Gas India Ltd.

On Tuesday, March 25, GAIL (India) and Coal India announced the incorporation of a joint venture (JV) with the objective of establishing a coal-to-synthetic natural gas (SNG) project in the eastern coalfield. This follows the JV agreement announced in August 2024. Coal India has an authorised share capital of ₹11 Crore, with an initial paid-up capital of ₹1 lakh in the company.

Coal India holds a 51% stake in the subsidiary, contributing ₹51,000, while GAIL owns 49% with an investment of ₹49,000. Coal India possesses 5,100 equity shares of the company, each with a par value of ₹10. Similarly, GAIL holds 4,900 equity shares, also with a par value of ₹10.

Coal India secured approval from the Ministry of Coal, DIPAM, and NITI Aayog on February 19, 2025, for the creation of this joint venture.

Objectives and Future Plans

Coal Gas India Ltd. is set to develop a coal-to-SNG business, with plans to manufacture SNG and other chemical compounds after thorough market research. The company will establish necessary plants, engage in captive coal mining, and import coal equipment and infrastructure.

 

Additionally, the JV aims to augment coal processing facilities, including coal beneficiation and associated infrastructure. These initiatives are expected to support Coal India’s long-term growth and contribute to energy sector advancements.

Coal India Share Performance 

As of March 26, 2025, at 9:38 AM, Coal India share price is trading at ₹399.95 per share, reflecting a surge of 0.41% from the previous day’s closing price. Over the past month, the stock has registered a profit of 9.92%.

Conclusion

Coal India’s entry into the SNG segment through this joint venture marks a significant strategic diversification. With strong backing and planned investments, Coal Gas India Ltd. is poised to play a crucial role in India’s transition towards alternative energy sources.

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.

TVS Motor Singapore Unit to Acquire Additional 8.26% Stake in GO AG

TVS Motor Company has announced that its wholly owned subsidiary, TVS Motor (Singapore) Pte. Ltd., will acquire an additional 8.26% stake in The GO Corporation (GO AG), a Switzerland-based e-mobility company.

As of 12:15 PM on March 26, TVS Motor Company share price is trading at ₹2,427.15, up ₹5.65 (0.23%) for the day, up 3.77% over the past month, but down 16.05% in the past six months.

Deal Value and Completion 

The acquisition is valued at CHF 500,000. The transaction is expected to be completed by 31st March 2025. Once the deal is closed, TVS Motor (Singapore) will hold 100% of GO AG, making it a wholly owned subsidiary.

About GO AG

GO AG is a Swiss technology company offering smart connected mobility solutions. Its product portfolio includes e-bikes and e-cargo bikes. The company operates an omni-channel network across Switzerland and Germany and has stated plans to expand its presence in other parts of Europe.

  • Turnover:
    • CY 2023: ₹35.96 crore
    • CY 2022: ₹37.88 crore
    • CY 2021: ₹24.92 crore
  • Loss After Tax (CY 2023): ₹60.1 crore
  • Net Worth (CY 2023): ₹19.34 crore

Nature of Transaction

The acquisition qualifies as a related party transaction and is being conducted on an arm’s length basis. The mode of payment is cash consideration. No government or regulatory approvals are required for the deal.

GO AG was incorporated on 30th March 2015 and is headquartered in Switzerland. It currently operates in Switzerland and Germany.

TVS Motor’s Existing Holding

Before this acquisition, TVS Motor (Singapore) already held a majority stake in GO AG. With the additional 8.26% being acquired, its stake will increase to 100%.

Conclusion

TVS Motor (Singapore)’s acquisition of the remaining stake in GO AG is a part of its ongoing transaction process and will make GO AG a full subsidiary of the company upon completion.

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.

ONGC Approves ₹3,300 Crore Investment in ONGC Green

Oil and Natural Gas Corporation Ltd (ONGC), today, on March 25, 2025,  announced a ₹3,300 crore investment in its wholly owned subsidiary, ONGC Green Limited (OGL). The investment will be made through a rights issue of equity shares.

As of 12:10 PM on March 26, shares of Oil and Natural Gas Corporation share price were trading at ₹241.92, down 0.14% for the day, up 4.73% over the past month, but down 18.05% over the last six months.

Stake in Ayana Renewable Power

OGL will use the ₹3,300 crore to acquire 100% equity in Ayana Renewable Power Private Limited. The acquisition will be executed through ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture between OGL and NTPC Green Energy Limited (NGEL).

Ayana Renewable Power has a portfolio of approximately 4.1 GW, including both operational and under-construction assets. These assets are located in states with strong renewable energy resources. The company’s off-takers include SECI, NTPC, GUVNL, and Indian Railways.

Investment in Mozambique LNG Project

The ONGC board also approved related party transactions worth ₹4,920 crore connected to its Mozambique LNG project. ONGC Videsh Ltd (OVL) will invest up to ₹1,500 crore in Beas Rovuma Energy Mozambique Ltd (BREML), which will be converted into redeemable preference shares. OVL holds a 60% stake in BREML.

Additionally, OVL Overseas IFSC Ltd (OOIL), a wholly owned subsidiary of OVL, will extend a senior loan of USD 379.3 million (approximately ₹3,270 crore) to Moz LNG1 Financing Company Ltd. ONGC has also provided a corporate guarantee of the same amount for this loan.

Conclusion

ONGC’s board decisions on March 25 include funding its renewable energy subsidiary and committing capital to its Mozambique LNG project. These approvals involve investments through both equity and loans, covering different parts of the company’s operations.

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.

DLF Home Developers Acquires Remaining Stake in DLF Urban for ₹496.73 Crore

DLF Limited, on March 25, 2025, announced that its wholly-owned subsidiary, DLF Home Developers Ltd (DHDL), has acquired the remaining 49.997% stake in DLF Urban Private Limited (DUPL) from Reco Greens Pte Ltd for ₹496.73 crore. The acquisition was formalised through a Securities Purchase Agreement executed on the same day.

As of 12:02 PM on March 26, 2025, DLF share price was trading at ₹690.90, down ₹4.30 (0.62%) for the day, with a 7.55% rise over the past month and a 25.23% decline over the past six months.

Deal Structure and Valuation

The transaction included the purchase of 46,39,607 equity shares and 3,20,09,726 Series D compulsorily convertible debentures (CCDs). The valuation for the deal was supported by reports from Price Waterhouse & Co LLP, Jain Jindal & Co, and Samarth Valuation Advisory LLP. Payment was made entirely in cash.

Following the acquisition, DHDL’s shareholding in DUPL increased from 50.003% to 100%, making DUPL a wholly-owned subsidiary of both DHDL and DLF Limited. The acquisition is classified as a related party transaction but was conducted at arm’s length based on independent valuation reports.

About DUPL

DLF Urban Private Limited was incorporated on April 13, 2015. It operates in the real estate sector, focusing on the construction, development, and sale of residential properties. The company is known for developing the One Midtown residential project in Delhi.

As per audited financials for the year ending March 31, 2024, DUPL reported a turnover of ₹4.07 crore, a net loss of ₹15.61 crore, and a net worth of ₹17.65 crore. DUPL has no international presence outside India.

Capital Plans

DLF recently announced plans to invest ₹20,000 crore over the next few years to complete ongoing residential projects. These projects are expected to generate a total surplus cash flow of approximately ₹43,000 crore. As of the December 2024 quarter, DLF reported ₹9,000 crore in cash reserves and ₹30,000 crore in customer receivables. An additional ₹24,000 crore is expected from the unsold inventory.

In the rental space, DLF plans to invest another ₹20,000 crore over the next five years in commercial projects.

Conclusion

The acquisition brings DLF Urban fully under the DLF Group, completing its stake consolidation in the subsidiary.

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.

Advait Energy Wins Bid for Power Grid’s OPGW Supply and Installation Project

Advait Energy Transitions Ltd, today, on March 25, 2025, confirmed that it has emerged as the L1 (lowest) bidder for the OPGW-04 package floated by Power Grid Corporation of India Ltd (PGCIL). 

The contract involves the supply and installation of Optical Ground Wire (OPGW) and communication equipment across various transmission lines in India.

The project falls under PGCIL’s bulk implementation scheme, which covers both supply and erection work for communication infrastructure. 

Separate Disclosure Expected

While the company has not yet received the official Letter of Intent (LoI), it has disclosed its successful L1 status through a formal intimation to the Bombay Stock Exchange.

Advait Energy stated that additional information required under SEBI Regulation 30, as well as other relevant details, will be disclosed through a separate announcement once the LoI or award is formally received from PGCIL.

Earlier Project in Battery Storage

Earlier in January 2025, Advait Energy announced that it had received a Letter of Intent from Gujarat Urja Vikas Nigam Ltd (GUVNL) for a 50 MW/500 MWh standalone Battery Energy Storage System (BESS) project. This segment is part of a larger 500 MW/1000 MWh project under Phase IV of GUVNL’s tariff-based global competitive bidding process.

The 50 MW capacity awarded to Advait will be developed with viability gap funding support and is scheduled to be completed within 18 months. The project aims to improve energy storage infrastructure in Gujarat.

Market Performance

As of 12:20 PM on March 26, 2025, shares of Advait Energy Transitions share price were trading at ₹1,189.95, up ₹24.10 or 2.07% for the day, but down 5.03% over the past month and 35.55% over the past six months.

Conclusion

Advait Energy has confirmed its status as L1 bidder for a nationwide OPGW installation project under Power Grid’s bulk implementation scheme. It is also progressing with a battery energy storage system project in Gujarat, awarded earlier this year.

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.

Indegene Ireland Arm to Acquire UK-Based MJL Group for GBP 3.4 Million

Indegene Ireland, a wholly owned subsidiary of Indegene Ltd., has entered into an agreement to acquire MJL Communications Group Ltd. and its subsidiary MJL Advertising Ltd. The acquisition will be executed on a debt-free, cash-free basis, for a total consideration not exceeding GBP 3.4 million. This includes purchase consideration, earnouts, bonuses, and adjustments for net working capital.

As of 12:39 PM on March 26, Indegene share price is trading at ₹546.15, down 2.61% for the day, 8.37% higher over the past month, but down 17.71% in the last six months.

Nature of Transaction

This is a 100% acquisition of the MJL Group. Indegene Ireland will acquire all outstanding shares of MJL Communications Group Ltd., resulting in full ownership. The consideration will be paid entirely in cash, with some of it deferred based on performance and milestone achievements. 

The transaction does not fall under related party transactions, and there is no promoter or group company interest involved.

Timeline and Purpose

The acquisition is expected to be completed on or before March 31, 2025. There are no governmental or regulatory approvals required for this transaction.

The acquisition is aimed at supporting Indegene Ireland’s business expansion, as per the filing. It is intended to help strengthen the company’s healthcare communications capacity in the UK and European Union regions.

About MJL Group

MJL Communications Group Ltd. and MJL Advertising Ltd. are healthcare communications agencies based in the United Kingdom. The group is into brand creation, omnichannel campaigns, education initiatives, and patient support communications. MJL was founded in 1982 and is headquartered in England.

The group’s unaudited revenue for the calendar year 2023 was GBP 1.72 million. For the previous year, 2022, it reported GBP 2.02 million, and the provisional revenue for 2024 stands at GBP 1.92 million.

Conclusion

The investment in Indegene Ireland for this acquisition was previously approved by Indegene’s Board of Directors to support the subsidiary’s capital expenditure requirements.

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.

NCC Share Price Surges On ₹10,804.6 Cr Orders from BSNL for BharatNet

NCC Limited has received 2 advance work orders from Bharat Sanchar Nigam Limited (BSNL) for projects under the BharatNet initiative. The combined value of these orders is ₹10,804.56 crore, excluding GST.

As of 12:32 PM on March 26, NCC share price was trading at ₹213.12, up 4.10% for the day, marking a 19.26% rise over the past month but down 30.43% over the last 6 months.

Project Regions and Order Value

The 2 contracts involve network infrastructure work in:

  • Uttarakhand Telecom Circle (Package 5)

    • Total Order Value: ₹2,647.12 crore.
    • Capital Expenditure (Capex): ₹1,543.35 crore.
    • Operating Expenditure (Opex): ₹1,103.77 crore.

  • Madhya Pradesh, Dadra & Nagar Haveli, Daman & Diu Telecom Circles (Package 1)

    • Total Order Value: ₹8,157.44 crore.
    • Capital Expenditure (Capex): ₹4,189.05 crore.
    • Operating Expenditure (Opex): ₹3,968.39 crore.

These contracts were awarded on March 25, 2025.

Scope of Work

The work involves the design, supply, construction, installation, upgradation, operation, and maintenance of the middle-mile network of BharatNet. Construction is scheduled to be completed in three years. Maintenance responsibilities will extend for ten years after completion.

About the Contracts

The orders fall under BharatNet Phase 3, a central government program aimed at expanding broadband connectivity across rural India through a middle-mile network. The middle-mile refers to the infrastructure that connects core networks to the local access points in remote areas.

These contracts have been classified as “major orders” by NCC under its materiality policy, which defines orders above ₹1,000 crore as significant. Both are domestic contracts and have been issued by a state-owned entity.

Conclusion

The combined order value of ₹10,804.56 crore adds to NCC’s project pipeline. The execution period spans over a decade, including the construction and maintenance phases. There is no promoter or related party interest in the awarding of these contracts. The company made the announcement after market hours on March 25, 2025.

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.