Coal Ministry Awarded Incentives Under Coal Gasification Incentive Scheme

On February 12, 2025, the Ministry of Coal took a major step forward in India’s Coal Gasification Initiative with the issuance of Letters of Award (LOAs) to selected applicants under Category II of the ₹8,500 crore Coal Gasification Incentive Scheme. In this read, we will have a look at those companies that received contracts under the Coal Gasification Incentive Scheme

Jindal Steel and Power Limited

Jindal Steel and Power Limited has been awarded ₹569.05 crore in financial incentives for its 2MMTPA coal gasification project in Angul, Odisha. The ₹3,793 crore project will convert coal into Direct Reduced Iron (DRI) through coal gasification and include a carbon capture and utilization plant designed to capture 30 TPD of CO2 for conversion into valuable products.

New Era Cleantech Solution Private Limited

A financial incentive of ₹1,000 crore has been granted to New Era Cleantech for its coal gasification project in Bhadravati, Chandrapur, Maharashtra. With a total project cost of ₹6,976 crore, the initiative aims to produce 0.33 MMTPA of Ammonium Nitrate and 0.1 MMTPA of Hydrogen. The project will also implement Carbon Capture, Utilization, and Storage (CCUS) technology, using captured CO2 for methanol production. The CO2-to-methanol plant will have a capacity of 3,000 TPD (1.0 MMTPA).

Greta Energy Limited 

Greta Energy has been awarded ₹414.01 crore for its coal gasification project at MIDC Bhadravati, Chandrapur, Maharashtra. With a total investment of ₹2,763 crore, the project aims to produce 0.5 MTPA of Direct Reduced Iron (DRI).

The Coal Gasification Incentive Scheme is central to India’s goal of reaching 100 million tonnes of coal gasification by 2030. This initiative is designed to accelerate technological progress in coal gasification, reduce carbon emissions, enhance energy security, and lay the groundwork for a more sustainable energy future.

 

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.

SEBI Launches Industry Standards Fora to Streamline Regulatory Compliance

On February 12, 2025, the capital market regulator launched an Industry Standards Recognition Manual to guide the formation and functioning of Industry Standards Fora, which helps in implementing regulatory instructions.

Launch of Pilot Programme for Industry Standards Fora (ISF)

In July 2023, SEBI launched a pilot programme for Industry Standards Fora (ISF) aimed at developing implementation standards for regulatory instructions issued by SEBI. Initially, the focus was on creating standards for listed companies and stock brokers. Following positive feedback from market participants and industry bodies, similar forums were established on a pilot basis for other stakeholders in the securities market, such as portfolio managers, custodians, designated depository participants, and alternative investment funds.

Feedback from Market Participants

Market participants have expressed that the implementation standards developed through industry collaboration and in consultation with SEBI have proven to be beneficial. These standards not only facilitate good governance and high-quality compliance with regulatory directives but also simplify the compliance process for industry players.

Current Status of Industry Standards Fora

While the ISFs are still in the pilot phase, there are no formal norms governing their formation and functioning. Each forum operates with flexibility, allowing them to identify mechanisms that they find most efficient for their operations. As a result, there are variations in the methods used to constitute the forums, determine which regulations or circulars should be addressed for implementation standards, the stage at which SEBI is to be consulted, and how industry feedback is gathered.

SEBI’s Initiative to Streamline ISF Operations

In light of the valuable insights gained from the various ISFs, SEBI has decided to implement a set of self-guiding principles. These principles are designed to streamline the constitution and processes of the ISFs, ensuring that they function in a manner that promotes representativeness. This approach aims to ensure that the standards developed reflect the real challenges faced by industry participants when complying with regulations and circulars.

 

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.

RBI Liquidity Measures: Planning VRR of ₹2.5 Lakh in Banking System

The Reserve Bank of India (RBI) was prepared to inject ₹2,50,000 crore into the banking system through its Variable Rate Repo (VRR) auction on Wednesday to improve liquidity.

The central bank explained that the amount was determined after assessing current liquidity conditions. Additionally, the RBI announced that it would hold daily VRR auctions on all working days in Mumbai, with reversals occurring the next working day, until further notice.

RBI Governor Sanjay Malhotra had stated last Friday, following the monetary policy meeting, that the central bank was committed to ensuring adequate liquidity in the economy and would take necessary steps to maintain stable liquidity to meet system requirements.

Governor Malhotra also emphasized that the RBI is closely monitoring the rupee and taking measures to stabilize the Indian currency.

As per new reports, RBI will actively manage liquidity and possibly implement additional measures (such as OMO purchases or FX swaps) as liquidity shortages increase towards the end of March. The report suggests the possibility of a prolonged rate-cut cycle if the growth recovery is slow, influenced by weak domestic demand and global uncertainties.

To support its view, the report referenced the RBI governor’s statement, highlighting the trade-off between stability and efficiency on the regulatory front. The governor noted that this balance would be considered when formulating regulations.

In a major relief for banks, RBI Governor Malhotra announced the deferral of the proposed Liquidity Coverage Ratio (LCR) and project financing norms for one year, meaning they will not be implemented before March 31, 2026.

The decision was made because the original deadline of March 2025 did not allow enough time for proper implementation. The RBI aims to prevent disruptions in the financial system and ensure a smooth transition.

Both public and private sector banks had opposed the implementation of these norms, which were announced by former RBI Governor Shaktikanta Das, expressing concerns over a potential liquidity crisis. Bank leaders raised this issue with Malhotra after he assumed office, following the end of Das’s tenure.

 

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.

Upcoming IPO: Rite Water Solutions Filed DRHP with SEBI To Raise ₹745 Crore

The Clean-tech company Rite Water Solutions (India) has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO) and aim to raise ₹745 crore.

As detailed in the DRHP, Rite Water Solutions IPO includes a fresh issue of equity shares up to ₹300 crore, alongside an offer-for-sale (OFS) of up to ₹445 crore by the promoter and investor selling shareholders. The OFS consists of shares being sold up to ₹85 crore by Vinayak Shankarrao Gan, up to ₹90 crore by Abhijeet Vinayak Gan, and up to ₹270 crore by Water Access Acceleration Fund S.L.P.

Rite Water Solutions IPO registrar and lead managers: Bigshare Services Private is the registrar of the issue, with JM Financial and Axis Capital acting as the book-running lead managers.

The equity shares will be listed on the National Stock Exchange of India (NSE) and BSE.

Use of IPO Proceed

The proceeds from the fresh issue portion of the upcoming IPO will be used to fund the working capital requirements of the company and for general corporate purposes.

According to the DRHP, the offer will be made through the book-building process, with no more than 50% of the net offer allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer assigned to non-institutional and retail individual bidders, respectively.

Rite Water Solutions will not receive any proceeds from the OFS. “Each of the Selling Shareholders shall be entitled to their respective portion of the proceeds of the Offer for Sale, after deducting their portion of the offer-related expenses and relevant taxes,” the company noted in the DRHP.

About Rite Water Solutions (India) Ltd

Established in 2004, Rite Water Solutions (India) is a water technology solutions provider and clean-tech company. The company offers a broad range of solutions and services in water management, solar agriculture, and IoT-enabled systems, with a strong focus on rural sustainability and large-scale implementation. Operating on an asset-light model, the company scales its business efficiently with minimal capital expenditure, ensuring flexibility and resilience.

Rite Water Solutions (India)’s revenue from operations rose by 69.76%, reaching ₹202.75 crore in FY 2024, compared to ₹119.43 crore in FY 2023. This growth was primarily due to the accelerated execution of electro-chlorination projects awarded in Fiscal 2022 and 2023, as well as an order for supplying solar pumps. Profit after tax grew by 96.95%, from ₹25.02 crore in FY 2023 to ₹49.28 crore in FY 2024.

 

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.

Upcoming IPO: Prostarm Info Systems Received In-Principle Approval to Float IPO

The capital market regulator, the Securities and Exchange Board of India (SEBI) has given in-principle approval to Prostarm Info Systems to launch an IPO. Prostarm Info Systems IPO is entirely a fresh issue of up to 1.6 crore equity shares, each with a face value of ₹10, as outlined in the draft red herring prospectus (DRHP).

Choice Capital Advisors Pvt Ltd is serving as the book-running lead manager, and Kfin Technologies is acting as the registrar for the issue. The company’s shares will be listed on the BSE and NSE.

Use of IPO Proceeds

The funds raised through this Upcoming IPO will be used to meet working capital needs, repay debt, seize inorganic growth opportunities, support strategic initiatives, and for general corporate purposes.

About Prostarm Info Systems

Founded in 2008 and headquartered in Navi Mumbai, Prostarm Info Systems operates three manufacturing plants in Maharashtra. The company produces power solution products under the ‘Prostarm’ brand, including UPS systems, inverters, solar hybrid inverters, and lithium-ion battery packs. It has also undertaken rooftop solar photovoltaic power plant projects on an EPC basis.

In FY24, Prostarm Info Systems served over 700 clients, including major names such as Larsen & Toubro, Tata Power, and Bajaj Finance. The company’s net profit for FY24 grew by 18% to ₹22.8 crore, up from ₹19.3 crore the previous year. Its revenue from operations increased by 12%, reaching ₹257.9 crore during the same period.

 

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.

PFC Share Price in Focus After Release of Q3FY25 Earnings: Declared Dividend

On February 13, 2025, PFC share price rose ~2%, reaching a day high of ₹382.50 at 09:35 AM, after opening at ₹382.50. with a drop of 0.56% to ₹373.30 after the company. This came after Power Finance Corporation (PFC) reported a 23% increase in consolidated net profit, reaching ₹7,759.56 crore for the third quarter (Q3) of the financial year 2024-25 (FY25), up from ₹6,294.44 crore in the same period last year.

Consolidated revenue from operations grew by 14% to ₹26,798.04 crore year-on-year, compared to ₹23,571.83 crore. Net Interest Income (NII), the difference between interest earned and interest paid, rose by 12.9% YoY to ₹4,694 crore, up from ₹4,158 crore in Q3FY24.

Improvement in Asset Quality

Asset quality remained stable, with gross non-performing assets (GNPA) at 2.68%, slightly improving from 2.71% in the previous quarter. Similarly, net NPA (NNPA) stood at 0.71%, compared to 0.72% in Q2FY25. Loan growth was 10% YoY, slightly below the company’s FY25 target of 14%.

PFC Declared Dividend

PFC also declared a third interim dividend of ₹3.50 per equity share for FY25. The record date for eligibility is set for February 28, 2025, and the dividend will be paid by March 3, 2025.

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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.

CPI and IIP Data Out: Inflation Eased to 4.31% in January 2025

India’s inflation trends for January 2025 reveal a mixed picture, with headline inflation showing a notable decrease, especially in food prices, signalling some positive shifts for the economy. Alongside inflation statistics, industrial production data for December 2024 has also been released, offering insights into the performance of key sectors like mining, manufacturing, and electricity. Let’s take a deeper dive into the latest trends.

Declining Inflation: A Positive Shift

The year-on-year inflation rate for January 2025, based on the All India Consumer Price Index (CPI), is reported at 4.31%a provisional figure that represents a decrease from the previous month’s inflation rate. Notably, this marks the lowest inflation since August 2024. This decline of 91 basis points from December 2024 is a welcome sign that inflationary pressures may be easing. The dip in inflation is largely attributed to declines in the prices of vegetables, eggs, pulses, cereals, clothing, and even health services.

Food Inflation: A Significant Drop

The Consumer Food Price Index (CFPI) for January 2025 shows a food inflation rate of 6.02%, indicating a year-on-year increase in food prices compared to January 2024. However, the good news is that food inflation has dropped sharply by 237 basis points compared to December 2024, making January 2025 the month with the lowest food inflation since August 2024. This drop is seen across both rural and urban sectors, though rural areas still experienced higher food inflation at 6.31% compared to the urban sector at 5.53%.

Rural vs. Urban Inflation

  • Rural inflation showed a significant decline in both headline inflation and food inflation. In January 2025, headline inflation in rural areas stood at 4.64%, down from 5.76% in December 2024. The rural food inflation also dropped from 8.65% in December to 6.31% in January, reflecting the easing of pressures on essential goods in these regions.
  • Urban inflation, too, experienced a notable decrease, with headline inflation falling from 4.58% in December 2024 to 3.87% in January 2025. Similarly, urban food inflation decreased from 7.9% in December 2024 to 5.53% in January 2025. These trends suggest that urban consumers are also benefiting from lower prices on food and essential items.

Sectoral Inflation Breakdown

  • Housing inflation for January 2025 is recorded at 2.76%, slightly higher than the 2.71% of December 2024. This index is applicable to urban areas only, reflecting modest increases in housing-related costs.
  • Education inflation showed a slight decrease, from 3.95% in December 2024 to 3.83% in January 2025. This combined figure for rural and urban areas signals that the rising cost of education might be stabilizing.
  • Health inflation, which stood at 4.05% in December 2024, dropped to 3.97% in January 2025, offering some relief to consumers in the healthcare sector.
  • Transport and communication inflation increased marginally from 2.64% in December 2024 to 2.76% in January 2025, signalling slight upward pressure in transportation and communication services.
  • Fuel and light inflation remain negative, at -1.38% in January 2025, a small increase from -1.33% in December 2024, continuing the trend of lower fuel prices.

Index of Industrial Production (IIP Data): Growth Continues

On the industrial front, India’s Index of Industrial Production (IIP) for December 2024 shows a growth rate of 3.2%, slightly lower than the 5.2% recorded in November 2024. Despite this slowdown, the performance of specific sectors is worth noting.

  • Mining sector saw a growth of 2.6% in December 2024, reflecting steady demand for mineral extraction.
  • Manufacturing grew by 3.0%, with 16 out of 23 industry groups showing positive growth. The manufacturing of basic metals (up 6.7%), electrical equipment (up 40.1%), and coke and refined petroleum products (up 3.9%) were among the key contributors to this growth.
  • Electricity production showed the highest growth, at 6.2%, indicating robust demand for energy across the country.

The Quick Estimate of IIP for December 2024 stands at 157.2, up from 152.3 in December 2023, indicating year-on-year growth in industrial production.

Conclusion 

While India’s inflationary pressures appear to be easing, with notable drops in food inflation, the industrial sector remains resilient, showing positive growth. These trends offer a cautiously optimistic outlook for the Indian economy as we head into 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.

Did You Know These 11 Popular Brands Are Owned by Reliance Industries?

You must be wondering, how big Reliance Industries is. If I quote this in numbers, Reliance Industries holds a market capitalisation of ₹16,48,310.68 Crore as of 1:40 PM on February 12, 2025, on BSE. From its roots in oil and chemicals to its influence in retail, telecom, media, and entertainment, Reliance’s sprawling business empire touches almost every facet of daily life, making it a cornerstone of the Indian economy.

While Reliance Industries’ immense market reach and financial might are undeniable, its true strength lies in the portfolio of iconic brands it controls. With 11 powerful brands, each a leader in its own field, Reliance has created an undeniable presence across multiple sectors. In this blog, we will explore these 11 popular brands under the Reliance umbrella, each playing a crucial role in driving the company’s growth and influence.

Zivame

Launched in 2011 as an online platform for popular lingerie brands like Enamor, Amante, and Jockey, Zivame transitioned into a private label business by 2016, after introducing in-house brands in 2013. In 2020, Reliance Retail acquired the company for $160 million.

Urban Ladder

Founded in July 2012 in Bengaluru, Urban Ladder became a notable player in the furniture and décor retail market. In 2020, Reliance Retail Ventures Ltd (RRVL) acquired a 96% stake in the company for an estimated ₹182.12 crore.

Just Dial

Reliance Retail acquired a controlling stake in the 25-year-old Indian search and discovery firm Just Dial for $469 million. This included a 41% stake in the publicly listed company, with plans to make an open offer to acquire an additional 26% stake.

Clovia

Reliance Retail Ventures Limited (RRVL) secured an 89% equity stake in Purple Panda Fashions Private Limited, the owner of Clovia, for an investment of ₹950 crore. This was a combination of secondary stake purchases and primary investments, with the founding team retaining the remaining stake.

Nickelodeon India

Operating under Viacom18, which is a joint venture between Paramount Global and TV18 (owned by Reliance Industries), Nickelodeon India is part of Reliance’s media expansion.

Forbes India

Forbes India, the Indian edition of the global brand, is managed by the media conglomerate Network 18, which is owned by Reliance Industries.

Hamleys

Reliance Brands, a subsidiary of Reliance Industries, completed the acquisition of the British toy retailer Hamleys for approximately ₹620 crore (GBP 67.96 million) in an all-cash deal. In May, Reliance Brands also agreed to acquire a 100% stake in Hamleys Global Holdings.

Colors TV

A merger between Reliance Industries, Viacom18 Media Private Limited, and The Walt Disney Company has made Viacom18’s media and JioCinema businesses part of Star India Private Limited (SIPL). This merger brings together well-known media brands, including ‘Star’ and ‘Colors’ TV, along with digital platforms like ‘JioCinema’ and ‘Hotstar’.

NetMeds

In August, Reliance Industries entered the online pharmacy market by acquiring a 60% stake in Netmeds for ₹620 crore, valuing the company at ₹1,000 crore.

Mandarin Oriental, New York

In January 2022, Reliance Industries acquired a majority stake in the Mandarin Oriental in New York City for $98 million, marking a significant step in its hospitality sector expansion.

Amante

Reliance Retail Ventures Limited (RRVL) acquired the retail lingerie business under the ‘amante’ brand from MAS Brands, a subsidiary of Sri Lanka-based MAS Holdings.

 

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.

SEBI’s Order: What’s Next for Brightcom Group Investors?

Are you waiting for the re-listing of Brightcom Group shares? If yes, you are among ~6 lakh retail investors, who hold over 80% stake in the company, worrying about what will happen to their investment.

In this read, we have carved out some major updates on Brightcom Group

In the latest weekly updates, Brightcom Group stated that it successfully conducted its Annual General Meeting (AGM) on February 7, 2025, and all the resolutions proposed were passed by the members.

The Board of Directors will meet on February 14, 2025, to review and adopt the financial results for quarter 3 of financial year 24-25. The meeting will cover the company’s financial performance, key operational updates, and strategic considerations.

Brightcom Group Ltd (BCG) provides digital marketing solutions to businesses, agencies and online publishers worldwide. The company owns the Oridian, Dremad, Mediosone, and Max Interactive brands and operates product platforms like Onetag, Pangea, Brightcom, Volomp, Proxytool, etc through its subsidiaries.

What SEBI’s Final Order Said?

On Thursday, February 6, 2025, SEBI imposed a total penalty of Rs 34 crore on Brightcom Group Ltd, its promoters, and others for misrepresenting the company’s financial statements. A fine of Rs 15 crore each was levied on M. Suresh Kumar Reddy and Vijay Kancharla, the promoters of Brightcom Group Ltd (BGL).

However, the company mentioned that its legal team is currently reviewing the order in detail. They will provide guidance to the Board on the next steps after completing their assessment.

Brightcom Group Re-Listing Plan

BCG confirmed that it has submitted all necessary compliances and SOP penalties in accordance with LODR to both exchanges. The exchanges will notify the company and its shareholders once everything is in place. We will keep the community updated as soon as there is clear visibility on the relisting timeline.

 

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.

Mid-Day Top Gainers and Losers on February 12, 2025: SBI Life and Apollo Hospitals Led Gainers

On February 12, 2025, as of 12:00 PM, the BSE Sensex was down 0.11% at 76,206.84, while the Nifty 50 was down 0.03% at 23,065.35. The mid-day top gainers and losers for the day are:

Mid-Day Top Gainers 

Symbol Open High Low LTP %chng
SBILIFE 1,427.45 1,465.00 1,407.50 1,457.00 2.68
APOLLOHOSP 6,349.60 6,490.00 6,215.00 6,466.65 2.36
HDFCLIFE 618.1 636.6 608.15 632.9 2.31
SHRIRAMFIN 538.55 551.5 527 550.25 2.17
TATACONSUM 1,019.00 1,032.40 1,010.05 1,031.95 1.79

SBI Life

SBI Life shares opened at ₹1,427.45 and surged to ₹1,465.00, showing a day change of +2.68%, closing at ₹1,457.00.

Apollo Hospitals

Apollo Hospitals shares saw an opening at ₹6,349.60 and reached a high of ₹6,490.00, closing at ₹6,466.65, up by 2.36%.

HDFC Life

HDFC Life shares opened at ₹618.10 and hit a high of ₹636.60, closing at ₹632.90 with a 2.31% increase.

Shriram Finance

Shriram Finance shares started at ₹538.55, peaked at ₹551.50, and ended at ₹550.25, marking a 2.17% gain.

Tata Consumer

Tata Consumer shares opened at ₹1,019.00, reached ₹1,032.40, and closed at ₹1,031.95, up by 1.79%.

Mid-Day Top Losers

Symbol Open High Low LTP %chng
M&M 3,068.55 3,075.00 2,955.10 3,035.05 -1.65
POWERGRID 259.5 262.1 254 257.75 -1.42
RELIANCE 1,219.45 1,226.90 1,193.35 1,218.00 -1.36
INDUSINDBK 1,060.45 1,063.95 1,020.25 1,040.60 -1.29
BEL 264.95 265.75 254 262.2 -1.08

M&M 

M&M shares opened at ₹3,068.55, touched a low of ₹2,955.10, and saw a day change of -1.65%, closing at ₹3,035.05.

Power Grid

Power Grid shares started at ₹259.50, and dropped to ₹254.00, with a day change of -1.42%, ending at ₹257.75.

Reliance Industries

Reliance Industries shares opened at ₹1,219.45, hit a low of ₹1,193.35, and closed at ₹1,218.00, reflecting a -1.36% change.

IndusInd Bank

IndusInd Bank shares began at ₹1,060.45, reached a low of ₹1,020.25, and closed at ₹1,040.60, down by -1.29%.

BEL

BEL shares opened at ₹264.95, fell to ₹254.00, closing at ₹262.20 with a day change of -1.08%.

 

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.