No Smoking Day: Check Out How Pharma Companies Are Helping Smokers Kick the Habit

No Smoking Day, observed annually on March 12, serves as a pivotal reminder of the severe health risks and financial burden associated with smoking.

According to WHO, 1.3 billion people worldwide smoke, with 80% residing in low- and middle-income countries. Smoking remains a major public health threat, killing over 8 million people annually—more than 7 million from direct tobacco use and 1.2 million from exposure to second-hand smoke.

Additionally, research indicates that traditional cigarette smokers are 30% to 40% more likely to develop Type 2 diabetes. With smoking posing serious health risks, several publicly listed pharmaceutical companies in India are stepping up to help smokers quit through innovative cessation products.

Cipla: NRT Range

Cipla, headquartered in Mumbai, is a renowned multinational pharmaceutical company with a strong focus on respiratory health. Recognising the challenges smokers face when attempting to quit, Cipla offers a range of nicotine replacement therapies (NRTs) designed to ease withdrawal symptoms and reduce dependence on nicotine.

Their product line includes nicotine gums and patches, which are readily available across India, providing accessible solutions for those aiming to quit smoking.

Sun Pharma: Anti-Smoking Medications

Sun Pharmaceutical Industries Ltd., one of India’s largest and most influential pharmaceutical companies, has played a significant role in the smoking cessation market with its prescription medications.

These medications are designed to assist individuals in overcoming nicotine addiction by targeting both the neurological and psychological aspects of dependence.

Alkem’s Nicotine Gum for a Smoke-Free Life

Alkem Laboratories Ltd, one of India’s leading pharmaceutical companies, has made significant strides in the smoking cessation market with its product nicotine gum.

Recognising the health risks associated with tobacco consumption, Alkem has introduced this nicotine replacement therapy (NRT) product to help smokers quit in a structured and effective manner.

Glenmark Pharmaceuticals Ltd

Glenmark Pharmaceuticals Ltd has introduced Kwitz, a nicotine replacement therapy (NRT) designed to help smokers gradually reduce their nicotine dependency. Available in the form of nicotine gums.

It provides a controlled release of nicotine, easing withdrawal symptoms such as cravings, irritability, and restlessness.

Piramal Pharma Limited

Piramal Pharma Limited offers nicotine lozenges as part of its nicotine replacement therapy (NRT) portfolio to assist smokers in quitting. These lozenges provide a controlled release of nicotine, helping to curb cravings and manage withdrawal symptoms such as irritability and restlessness.

Unlike cigarettes, nicotine lozenges deliver nicotine in a safer, smoke-free manner, allowing users to gradually reduce their nicotine intake.

Conclusion

The commitment of these Indian pharmaceutical companies to develop and provide smoking cessation aids plays a crucial role in public health. Their efforts not only support individuals in their journey to quit smoking but also contribute to the broader goal of reducing tobacco-related diseases in India.

On this No Smoking Day, acknowledging and utilising these resources can be the first step towards a healthier, smoke-free life.

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: Sensex Flat, Nifty Below 22,500 on March 11, 2025

The BSE Sensex closed at 74,102.32 down 12.85 points (-0.02%), while the Nifty 50 ended at 22,497.90, rising 37.60 points (0.17%)

Sectoral Performance

The stock market saw mixed movements across different indices today. The NIFTY Midcap 50 rose by 1.03%, closing at 13,849.75, indicating strong interest in mid-sized companies.

The NIFTY Realty index surged 3.58% to 828.30, reflecting positive momentum in the real estate sector. However, the NIFTY Private Bank index declined by -1.36%, closing at 23,823.45, signaling weakness in the banking sector

Top Gainers and Losers

Trent and Bharat Petroleum Corporation Limited (BPCL) emerging as the top gainers, rising by 4.16% and 3.04%, respectively. Trent closed at ₹4,999.2, while BPCL ended at ₹264.75, backed by strong trading volumes.

On the flip side, IndusInd Bank and Infosys were among the top losers. IndusInd Bank saw a sharp decline of -26.75%, closing at ₹659.65, while Infosys dropped -2.30% to ₹1,662.4.

Oil Prices

As of March 11, 2025, at 03:30 PM, Brent Crude was trading at $69.77, up by 0.71%.

 

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.

Who Can Avail ₹2,500 Under Jharkhand Maiya Samman Yojana? Check Eligibility

The Jharkhand Mukhyamantri Maiya Samman Yojana is a state government initiative aimed at providing financial support to women, particularly homemakers, to enhance their economic stability.

The scheme offers monthly financial assistance to eligible beneficiaries, with funds directly transferred into their bank accounts. Initially, the scheme provided ₹1,000 per month, but in December 2024, this amount was increased to ₹2,500 to strengthen financial security for women across the state.

The scheme operates under the Women, Social Welfare, and Social Security Department, ensuring that eligible women receive timely financial aid.

Who is Eligible for the Maiya Samman Yojana?

To qualify for financial assistance under this scheme, applicants must meet the following eligibility criteria:

  • Residency: The applicant must be a resident of Jharkhand.
  • Age Limit: Women aged between 18 and 50 years are eligible.
  • Bank Account Requirement: The beneficiary must have an Aadhaar-linked individual bank account.
  • Ration Card Holders: The scheme is available to women belonging to families that possess ration cards issued by the Jharkhand state government.
  • Bank Account Aadhaar Linking: Women whose bank accounts are not yet linked with Aadhaar can initially avail the scheme benefits. However, Aadhaar linkage will be mandatory after a specified period.

Who is Not Eligible?

Certain individuals and families are excluded from the scheme based on the following criteria:

  • Income Tax Payers: Families that pay income tax are not eligible.
  • Government Employees: The applicant or her husband must not be employed as a regular, contractual, or honorary worker.
  • EPF Contributors: Women or their spouses who contribute to the Employees’ Provident Fund (EPF) cannot avail of this scheme.
  • Pension Recipients: Those receiving a pension or family pension after retirement are not eligible.
  • Existing Beneficiaries of Other Schemes: Women who are already receiving financial aid under other social security pension schemes run by the Jharkhand government’s Department of Women, Child Development, and Social Security are ineligible.
  • Political Office Holders: If any member of the applicant’s family is a current or former Member of Parliament (MP) or Member of the Legislative Assembly (MLA), they are not eligible.

Conclusion

The Jharkhand Mukhyamantri Maiya Samman Yojana aims to uplift women by providing direct financial assistance to those in need. By ensuring transparency and setting clear eligibility criteria, the scheme benefits economically weaker sections while excluding those with financial stability.

Eligible women should complete their Aadhaar verification and bank account linking to receive timely payments under this welfare program.

 

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.

Top 5 Mid-Cap Mutual Funds With Strong 3-Year CAGR Nearing 30%

Mid-cap mutual funds have gained attention for their impressive returns, striking a balance between risk and reward. This blog highlights top-performing mid-cap funds with a 3-year CAGR nearing 30%. We’ll delve into key metrics like AUM, NAV, and expense ratios, helping investors evaluate their potential in the ever-evolving market landscape.

List of Top 5 Mid-Cap Mutual Funds With Strong 3-Year CAGR

The table below is sorted based on the 3-year CAGR as of March 11, 2025, highlighting the top-performing mid-cap mutual funds along with their AUM, expense ratio, and NAV.

Name AUM (₹ Cr) CAGR 3Y (%) Expense Ratio (%) NAV (₹)
Motilal Oswal Midcap Fund 23,703.68 29.08 0.65 100.53
HDFC Mid-Cap Opportunities Fund 67,578.59 24.62 0.79 181.35
Edelweiss Mid Cap Fund 7,729.29 22.92 0.41 97.67
Nippon India Growth Fund 33,033.09 22.91 0.8 3,787.40
ITI Mid Cap Fund 987.53 22.78 0.11 19.62

Overview of Top 3 Mid-Cap Mutual Funds

1. Motilal Oswal Midcap Fund

Motilal Oswal Midcap Fund aims to generate long-term capital appreciation by investing in quality mid-cap companies with strong competitive advantages and growth potential.

The fund’s sector allocation is well-diversified, with the highest exposure to technology (23.11%), followed by capital goods (12.97%) and consumer discretionary (8.1%).

2. HDFC Mid-Cap Opportunities Fund

HDFC Mid-Cap Opportunities Fund-Growth focuses on generating long-term capital appreciation by investing primarily in mid-cap companies with strong growth potential.

The fund’s sector allocation is led by financials (21.63%), followed by healthcare (12.27%) and services (9.61%). It also holds notable positions in the automobile (8.78%) and technology (8.4%) sectors.

3. Edelweiss Mid Cap Fund

Edelweiss Mid Cap Fund Regular-Growth is designed to generate long-term capital appreciation by investing primarily in mid-cap companies with strong growth potential.

The fund’s sector allocation is led by financials (14.39%) and services (14.33%), followed closely by capital goods (13.35%) and healthcare (12.59%).

Conclusion

Mid-cap mutual funds have shown strong potential for wealth creation, balancing growth opportunities with manageable risk.

Before investing, it’s essential to assess factors such as AUM, expense ratio, and sector allocation to align with financial goals and risk tolerance. While mid-cap funds can be rewarding, they require a long-term perspective and careful evaluation of market trends.

Plan your SBI SIP investments better! Use our easy-to-use SBI SIP Calculator and estimate future returns with just a few clicks. Your financial growth starts 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.

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

Maharashtra Slashes Ladki Bahin Yojana Funds by ₹10,000 Crore Amid Rising Debt

The Maharashtra government has announced a significant reduction in the budget allocation for the Mukhya Mantri Majhi Ladki Bahin Yojana, cutting its funds by ₹10,000 crore for the financial year 2025-26.

This move comes as the state grapples with mounting debt and a widening fiscal deficit, forcing the government to focus on financial prudence rather than new welfare initiatives.

Ladki Bahin Yojana: A Flagship Welfare Scheme

Launched as a pre-election promise, the Mukhya Mantri Majhi Ladki Bahin Yojana was designed to provide financial assistance to women in Maharashtra, ensuring economic support for those in need. Under the scheme, eligible women were to receive a monthly stipend of ₹1,500, with a proposed hike to ₹2,100 as per the government’s poll manifesto.

However, despite the overwhelming mandate received in the 2024 Assembly Elections, the budget has not approved this increase, reflecting the government’s financial constraints.

Budget Cuts and Scrutiny of Beneficiaries

For 2025-26, the Maharashtra government has allocated ₹36,000 crore for the scheme, a sharp decline from last year’s allocation. The reduction in funds is accompanied by a stricter scrutiny process, with authorities reassessing and trimming the number of beneficiaries to optimise spending.

This step aligns with the state’s broader strategy of maintaining fiscal discipline while sustaining existing welfare programs. The budget, however, does not introduce any major new schemes, signaling a cautious approach to public spending.

Mounting Debt and Revenue Deficit: The Bigger Picture

Maharashtra’s financial health has been a growing concern, with the state’s debt projected to reach ₹9.3 lakh crore in 2025-26, marking its highest-ever level. Additionally, a steep revenue deficit of ₹45,891 crore has further limited fiscal maneuverability.

What This Means for Beneficiaries

The cut in funds and the stricter selection process for beneficiaries may limit the scheme’s reach, potentially affecting thousands of women who were counting on this financial support. The delay in the proposed stipend hike also raises concerns about the government’s ability to fulfill its election promises, particularly for marginalised communities dependent on these schemes.

Conclusion

The ₹10,000 crore cut in the Ladki Bahin Yojana is a clear indication that financial constraints are shaping policy decisions.

As the government reassesses beneficiaries and tightens fiscal policies, the impact of these changes on the scheme’s effectiveness remains to be seen.

 

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.

Shakti Pumps Share Price Hits Lower Circuit; Down 3% on March 11, 2025

Shakti Pumps (India) Limited’s share price declined by 2.89% on March 11, 2025, trading at ₹886.35 at 11:00 AM on the NSE, down ₹26.35 from its previous close of ₹912.70. The stock opened at ₹867.10, which also marked the day’s low, while the high remained at ₹912.70.

Shakti Pumps (India) Limited touched its lower circuit limit of ₹871.05 today, and remains under ASM LT: Stage 4, indicating heightened regulatory surveillance.

Broad Market Sell-Off Drags Shakti Pumps

Shakti Pumps (India) Limited faced selling pressure on March 11, 2025, as a broader market downturn weighed on the stock.

Benchmark indices Sensex and Nifty traded lower, tracking a global sell-off triggered by recession concerns in the US, which led to overnight losses on Wall Street.

Weak sentiment spread across sectors, dragging Shakti Pumps down after its strong rally in the previous sessions.

Notably, the stock had hit its upper circuit for 3 consecutive sessions on March 5, 6, and 7, but the broader market weakness reversed its momentum, pushing it toward its lower circuit of ₹871.05.

Secures Order for Solar Water Pumping Systems

Shakti Pumps’ earlier rally followed its order win worth ₹24 crore from the Maharashtra Energy Department Agency (MEDA) for supplying 877 Solar Photovoltaic Water Pumping Systems (SPWPS) under Component-B of the PM-KUSUM scheme. The project encompasses design, manufacturing, supply, transportation, installation, testing, and commissioning of these units across Maharashtra. The company aims to complete the project within 120 days of receiving the work order.

Conclusion

Shakti Pumps’ recent stock movement reflects the broader market trends, with a global sell-off reversing its prior rally. While the stock faced a downturn, hitting its lower circuit on March 11, 2025, its recent ₹24 crore order win under the PM-KUSUM scheme highlights the company’s growth prospects in the renewable energy sector.

Investors should closely monitor market trends, regulatory developments, and company performance before making investment decisions.

 

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.

Ashoka Buildcon Share Price in Focus; Bags ₹311.92 Crore Maharashtra Power Project

Ashoka Buildcon Limited, a leading infrastructure development company, has received a Letter of Acceptance (LOA) from Maharashtra State Electricity Transmission Co. Limited (MSETCL) for a significant turnkey project, the company said in a press release on the stock exchanges.

Key Highlights of the Project

  • Project Name: Establishment of 400/220 KV substation at Nandgaon Peth, Amravati, including associated transmission lines.
  • Awarding Entity: Maharashtra State Electricity Transmission Co. Limited (MSETCL)
  • Project Value: ₹311.92 crore (including GST)
  • Nature of Work: Supply, Erection, Testing, and Commissioning (ETC) along with civil construction.
  • Execution Timeline: 18 calendar months (excluding monsoon season)

Strategic Importance of the Project

The awarded project involves the establishment of a high-capacity substation, a crucial component in strengthening Maharashtra’s power transmission infrastructure. The 400/220 KV substation at Nandgaon Peth will enhance electricity distribution in the Amravati Zone, improving efficiency and stability in power transmission for the region.

Impact on Ashoka Buildcon

The ₹311.92 crore project will add substantial value to the company’s order book, positively impacting its revenue and profitability in the upcoming quarters. With this contract, Ashoka Buildcon continues to expand its footprint in the power transmission segment, complementing its extensive portfolio in roads, highways, and urban infrastructure.

Ashoka Buildcon Share Price Performance

Ashoka Buildcon share price is trading at ₹177.70, reflecting a decline of ₹1.44 (-0.80%) at 10:10 AM on the NSE from the previous close of ₹179.14. The stock opened at ₹177.71, reached an intraday high of ₹180.20, and touched a low of ₹174.70.

Conclusion

With this contract, the company continues its engagement in high-value projects, further strengthening its role in India’s infrastructure development. The project is expected to be executed over 18 months, excluding the monsoon period, as per the contract terms.

 

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.

IRFC Share Price in Focus; Board Mulls Second Interim Dividend, Sets Record Date for Mar 21

The Indian Railway Finance Corporation (IRFC) has recently announced an upcoming Board Meeting to discuss the declaration of the Second Interim Dividend for the financial year 2024-25. Here’s everything you need to know about this important update.

Key Details of the IRFC Dividend Announcement

  • Board Meeting Date: Monday, March 17, 2025.
  • Purpose: To consider the declaration of the Second Interim Dividend for the financial year 2024-25.
  • Record Date: Friday, March 21, 2025 (to determine shareholder eligibility for the dividend).

Understanding the Record Date

The record date is the cutoff date set by the company to determine which shareholders are eligible to receive the dividend. Shareholders holding IRFC shares as of March 21, 2025 will qualify for the second interim dividend, subject to approval by the Board of Directors.

IRFC Dividend Payout History

Indian Railway Finance Corporation (IRFC) has consistently rewarded its shareholders with dividends over the years. In the latest announcement on October 22, 2024, the company declared an interim dividend of ₹0.8 per share, with the ex-dividend date set for November 12, 2024.

Earlier in the year, on May 21, 2024, IRFC announced a final dividend of ₹0.7 per share. Looking at past trends, the company has maintained a steady dividend payout, offering interim dividends of ₹0.8 in October 2023, October 2022, and final dividends of ₹0.7 in May 2023 and ₹0.63 in May 2022.

IRFC Share Price Performance

Indian Railway Finance Corporation Limited (IRFC) share price dropped 1.75%, to ₹117.65 at 9:50 AM on the NSE. The stock opened at ₹118 and reached a high of ₹118.74 before dipping to a low of ₹116.57. Compared to the previous close of ₹119.75,

Conclusion

IRFC’s upcoming Board Meeting on March 17, 2025 will determine the Second Interim Dividend, with March 21, 2025 set as the record date. This announcement reinforces IRFC’s commitment to rewarding investors while maintaining regulatory compliance.

 

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.

Godrej Consumer Share Price in Focus; Mulls Gradual Soap Price Hikes

India’s leading consumer goods company, Godrej Consumer Products, is set to gradually increase soap prices to safeguard its margins as palm oil costs continue to rise. CEO Sudhir Sitapati, told Reuters in the southern Indian state of Tamil Nadu, that while the company aims to widen margins, it will avoid sudden price hikes to minimise the impact on consumers. The process is expected to take 2 to 3 quarters.

Why Are Prices Rising?

Palm oil, a key ingredient in soap manufacturing, has seen a significant price surge due to floods in major producing countries like Indonesia and Malaysia.

This has forced several consumer goods companies, including Hindustan Unilever and Godrej Consumer, to revise their pricing strategies. Despite the increased costs, Godrej Consumer has yet to fully recover the additional expenses incurred due to rising palm oil prices.

Will Price Hikes Affect Sales?

Sitapati reassured that the gradual increase in soap prices is unlikely to impact sales, as soap is a necessity rather than a discretionary product. Soaps contribute to around 20% of Godrej Consumer’s revenue, making it a crucial segment for the company.

Impact on Margins and Financial Performance

The company’s gross margin shrank by 175 basis points during the October-December 2024 quarter, marking the first contraction in two years. This reflects the growing pressure on consumer goods companies to manage input costs while maintaining affordability for consumers.

Share Price Performance

Godrej Consumer Products Limited (GCPL) share price was trading at ₹1,039.55 at 9:35 AM on the NSE, reflecting a 0.43% decline (-₹4.45) from the previous close of ₹1,044. The stock opened at ₹1,025, reached a high of ₹1,046.25, and touched a low of ₹1,025 during early trading hours.

Conclusion

As the company navigates inflationary pressures, its ability to protect margins without disrupting sales will be key to maintaining its market position.

With soaps contributing significantly to its revenue, Godrej Consumer’s pricing decisions will be closely watched by investors and industry players alike.

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.

GST Evasion Hits ₹1.95 Lakh Crore: How the Govt Is Fighting Back

Tax evasion has been a persistent challenge for the government, with fraudulent activities leading to significant revenue losses. In the ongoing fiscal year (April 2024–January 2025), Central GST (CGST) officers detected tax evasion amounting to a staggering ₹1.95 lakh crore across 25,397 cases.

This was revealed in Parliament, highlighting the scale of the issue and the government’s active measures to curb such fraudulent activities.

Tax Evasion Cases Over the Years

The government has been battling tax evasion with increasing vigilance. Over the past 5 years, CGST officers have detected 86,711 cases of evasion, amounting to more than ₹6.79 lakh crore. In the current fiscal year alone, the number of cases stands at 25,397, with voluntary tax deposits reaching ₹21,520 crore.

One of the most concerning aspects of tax evasion is Input Tax Credit (ITC) fraud. In the current fiscal year, 13,018 ITC fraud cases have been identified, involving ₹46,472 crore. Out of this, a voluntary deposit of ₹2,211 crore has been made.

Government’s Response and Preventive Measures

To tackle GST fraud and improve compliance, the Central Government and GST Network (GSTN) have implemented several initiatives, including:

  • Enhanced Intelligence Inputs: Authorities now have access to real-time intelligence reports, enabling them to identify tax evaders quickly.
  • Fraudulent Registration Detection: The government is scrutinising suspicious taxpayer registrations to curb misuse.
  • E-way Bill Monitoring: Authorities are tracking e-way bills to identify irregularities in goods movement and potential fraud.
  • Return Scrutiny and Audits: Taxpayers are selected for audits based on risk parameters, improving overall compliance.

Project Anveshan – A Game Changer

A key initiative in detecting tax evasion is Project Anveshan (Analytics, Verification, Shortlisting of Anomalies). This program uses advanced analytics and modern techniques such as:

  • Facial Recognition System (FRS): Helps verify identities and detect fraudulent registrations.
  • E-way Bill Data Analysis: Identifies suspicious transactions and discrepancies in movement of goods.
  • AI-driven Intelligence Reports: Uses big data to track fraudulent activities early.

Conclusion

GST evasion remains a major concern, but with initiatives like Project Anveshan and enhanced monitoring mechanisms, authorities are making significant progress in identifying and preventing fraud.

The ongoing crackdown highlights the importance of compliance and the government’s commitment to a transparent and efficient tax system.

 

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.