Making the Right Decision: Withdraw or Reinvest Your Matured Investments?

The maturation of an investment signifies the completion of its predetermined term. At this juncture, investors must decide whether to withdraw the funds or reinvest them for future growth. Investments that reach maturity may include fixed deposits, bonds, stocks, or mutual funds.

Making the right decision requires evaluating multiple factors that influence both short-term and long-term financial stability. Below are the key considerations when assessing your next steps.

Key Factors to Consider

Financial Objectives

Your financial objectives play a crucial role in this decision. Are you aiming for long-term wealth accumulation, immediate liquidity, or stability? Consider whether reinvesting aligns with your broader financial plans or if withdrawing would serve a more pressing need.

Market Conditions

The economic and market conditions directly impact investment returns. Interest rates, inflation, and overall market performance should be analysed to determine whether reinvesting offers an opportunity for growth or if withdrawing and reallocating funds to alternative investments is a wiser choice.

Risk Appetite 

Understanding your comfort level with risk is essential. If you have a high-risk appetite, you may explore growth-oriented investments. Conversely, if you prefer stability, fixed-income securities or safer assets might be more suitable.

Tax Consequences

Both withdrawing and reinvesting funds can have tax consequences. Some investments may offer tax advantages if held for a longer duration. Consulting a financial advisor can help determine the most tax-efficient strategy for your situation.

Potential Strategies for Reinvestment

A well-thought-out investment strategy can help optimise returns and enhance financial security. Consider the following approaches:

Diversification

Spreading investments across multiple asset classes, such as equities, bonds, real estate, or government-backed schemes, can help manage risk while maximising potential returns.

Market Analysis

Research market trends to identify sectors with strong growth potential. Some industries may present better opportunities than your previous investment, making reinvestment a strategic move.

Tax-Efficient Investments

Certain financial instruments offer tax benefits that can help reduce liabilities and improve returns. Evaluating tax-saving options before reinvesting can be a prudent decision.

Considerations for Withdrawing Funds

There are scenarios where withdrawing matured investments may be the more practical choice. Here are some reasons to opt for withdrawal:

Emergency Fund Allocation

Maintaining an emergency fund is essential for financial security. If you lack sufficient savings, using a portion of your matured investment to build or reinforce your emergency fund is advisable.

Debt Repayment

If you have outstanding high-interest debts, allocating funds to reduce liabilities can be a smart financial move. The interest saved from repaying debts may exceed potential investment returns.

Lifestyle and Major Expenses

Matured investments can provide liquidity for significant expenses such as education, home purchases, or retirement planning. Assessing whether these needs outweigh the benefits of reinvestment is crucial.

Conclusion: Making an Informed Decision

Deciding whether to withdraw or reinvest matured investments requires careful evaluation of personal financial goals, risk appetite, and prevailing market conditions. Each option has its merits, and the best choice depends on individual circumstances. Ensuring that your decision aligns with your long-term financial plan will help you optimise your wealth and meet future financial aspirations.

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.

Star Cement Secures Boro Hundong Limestone Block in Assam; Shares Surge 3%

Star Cement Meghalaya, a subsidiary of Star Cement, has been declared the ‘Preferred Bidder’ for the composite license of the Boro Hundong Limestone block. The e-auction was conducted by the Government of Assam, granting the company rights to prospect and mine in the area.

Understanding the Composite License

A composite license, also known as a prospecting license-cum-mining lease, is a two-stage concession. It allows the licensee to first explore and evaluate the mineral deposits and then transition smoothly into mining operations if resources are deemed viable.

The Boro Hundong Limestone block is spread over 400 hectares in Dima Hasao district, Assam, and is estimated to contain 146.75 million tonnes of limestone reserves. This acquisition is a crucial step for Star Cement as it strengthens its resource base.

Share Price Reaction

Following the announcement, shares of Star Cement surged nearly 3%, touching ₹209.50 per share on the NSE as of 11:48 AM on March 18, 2025. Investors seem optimistic about the company’s expanding raw material base and future growth prospects.

Star Cement’s Expansion Plans in Assam

In February 2025, Star Cement unveiled plans to set up a ₹3,200 crore cement clinker and grinding plant in Assam. A memorandum of understanding (MoU) was signed between the Assam government and Star Cement during the Advantage Assam business summit.

This initiative is expected to bolster the cement supply chain in the northeastern region, reinforcing Star Cement’s market presence.

Other Key Investments at Advantage Assam Summit

The Advantage Assam 2.0 Investment and Infrastructure Summit 2025 witnessed major investment commitments, including:

  • Matheson Hydrogen Lvt Ltd.: Signed an MoU to establish a ₹1,500 crore hydrogen and steam generation plant.
  • Global Health Ltd.: Entered into a ₹500 crore agreement with the state government.
  • ITE Education Service: Signed 2 non-financial agreements for skill development initiatives.

Assam Chief Minister Himanta Biswa Sarma expressed gratitude towards the investors for their commitment to the state’s industrial growth. A total of 164 MoUs spanning 15 sectors were signed on the first day of the summit.

UltraTech Cement’s Stake in Star Cement

In December 2024, UltraTech Cement announced the acquisition of an 8.69% minority stake in Star Cement. The transaction, valued at ₹851 crore, marked UltraTech’s strategic investment in the northeastern cement industry.

Star Cement’s Market Presence

With an installed capacity of 7.7 million tonnes per annum (MTPA), Star Cement has a strong foothold in northeastern India. The company is also expanding into West Bengal and Bihar, strengthening its distribution network across eastern India.

Conclusion

This recent limestone block acquisition, coupled with its expansion plans, aligns with Star Cement’s strategy to enhance capacity and secure long-term raw material supply in a growing 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.

Engineers India Secures EPCM Contract for Numaligarh Refinery’s Polypropylene Unit

Engineers India Limited (EIL) has been awarded the Engineering, Procurement, and Construction Management (EPCM) services contract for the 360 KTPA Polypropylene Unit (PPU) Project at Numaligarh Refinery. The contract has been awarded by Numaligarh Refinery Limited (NRL) with a total estimated value of ₹252.95 crore, excluding GST.

Project Scope and Timeline

The contract involves EPCM services for the Polypropylene Unit, a significant component of the refinery’s expansion. The work is expected to be completed within 36 months. The agreement was formalised following clarifications on contractual terms, which were received on 17th March 2025.

Strategic Significance

This development aligns with NRL’s ongoing efforts to enhance its production capabilities and expand its petrochemical footprint. Polypropylene is a widely used polymer with applications spanning the packaging, automotive, and consumer goods industries, making this project a crucial part of NRL’s growth strategy.

Relationship Between EIL and NRL

EIL holds a minority stake in NRL, but the transaction does not fall under related-party transactions, as confirmed in the disclosure. This ensures transparency and compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Share Price Movement 

The share price of Engineers India is trading 1.56% higher at ₹161.45 as of 11:43 AM on March 18, 2025.

Conclusion

The awarding of this contract reinforces EIL’s position as a leading engineering consultancy and project management company in India’s hydrocarbon sector. As the project progresses, it is expected to contribute to the overall growth of the polymer industry while strengthening the capabilities of Numaligarh Refinery.

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 Finserv to Acquire 26% Stake of Allianz, Plans Future IPO

Bajaj Finserv has confirmed its intent to list its life and general insurance businesses in the future. However, a public offering before FY27 is unlikely as per news reports. The company has also announced a major acquisition deal, securing full ownership of its insurance ventures.

Complete Acquisition from Allianz

Bajaj Finserv and its promoter entities will acquire Allianz SE’s 26% stake in Bajaj Allianz Life and Bajaj Allianz General Insurance. This transaction will give Bajaj Finserv full control of both companies. With this strategic move, the company has reaffirmed that it does not require new partners to sustain growth.

 

Bajaj Finserv and Promoter companies will pay ₹13,780 crore for a 26% stake in Bajaj Allianz General Insurance, valuing the entity at ₹53,346 crore and another ₹10,400 crore for another 26% stake in Bajaj Allianz Life Insurance, valuing the company at ₹40,000 crore.

Strong Growth Prospects and Future Plans

Chairman & MD Sanjiv Bajaj highlighted that Bajaj Allianz Life has outperformed the market over the past six to seven years and aims for even stronger profitability. Both insurance businesses are expected to expand at rates exceeding industry averages. Despite ownership changes, leadership at both companies will remain unchanged.

Bajaj Finserv Share Performance

As of March 18, 2025, at 12: 30 PM, The shares of Bajaj Finserv are trading at ₹1840.10 per share, reflecting a decline of around 1.68% from the previous closing price. Over the past month, the stock has registered a fall of 2.83%.

Conclusion

By securing full ownership of its insurance businesses, Bajaj Finserv is positioning itself for independent growth and a future public listing. The company remains focused on strengthening its market presence and delivering higher profitability.

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.

Morepen Laboratories Launches Empamore For Affordable Diabetes Treatment

Morepen Laboratories has introduced Empamore, a new medication designed to treat Type 2 Diabetes, Heart Failure with Reduced Ejection Fraction and Chronic Kidney Disease. India has a high number of diabetes cases with over 101 million people affected. Empamore aims to offer an affordable and high-quality treatment to help people manage their health better.

Affordable and Effective Treatment

Empamore contains Empagliflozin, a well-known medicine for diabetes control. Morepen produces this at its USFDA-approved facility, ensuring global quality standards. The product range includes:

  • Empamore (10mg/25mg)
  • Empamore M (12.5mg of Empagliflozin with 500mg/1000mg Metformin)

With diabetes cases in India rising, Morepen’s cost-effective solution makes quality treatment more accessible.

Making Healthcare Affordable for Everyone

Morepen aims to reduce financial stress for diabetes patients by selling Empamore at 90% lower costs compared to existing brands. The company focuses on expanding healthcare access by ensuring the medicine is widely available at reasonable prices. Ashutosh Sharma, Vice President of Sales & Marketing at Morepen Laboratories, expressed during the launch, “At Morepen, we are dedicated to democratizing healthcare by making world-class treatments accessible to all. With Empamore, we are providing a trusted, high-quality diabetes treatment at nearly 90% lower cost than existing brands, helping millions manage their condition effectively without Financial strain. This aligns with our commitment to empower people to take charge of their health.”

Morepen’s Contribution to Diabetes Care

Morepen has a strong history in diabetes management, having installed over 12.33 million glucometers and sold 1.65 billion blood glucose strips. With a global presence in 82 countries, the company continues to innovate and bring affordable healthcare solutions to both India and the world.

Share performance 

As of March 18, 2025, at 1:30 PM, the shares of Morepen Laboratories Ltd are trading at ₹48.99 per share, reflecting a profit of 14.36% from the previous day’s closing price. Over the past month, the stock has registered a loss of 1.90%. The stock’s 52-week high stands at ₹100.90 per share, while its low is ₹40.20 per share.

Conclusion

Empamore is a step towards affordable and accessible healthcare for diabetes patients. By providing cost-effective and high-quality treatment, Morepen is making it easier for people to manage their health without financial strain.

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.

Indian Banks Write Off ₹16.35 Lakh Crore in Bad Loans Over the Past Decade

Indian banks have written off a staggering ₹16.35 lakh crore in bad loans over the last ten financial years, according to government data presented in Parliament. While these write-offs are in line with regulatory norms, they do not absolve defaulters, and recovery efforts remain a priority. The trend highlights both the challenges and improvements in the country’s banking sector.

Record Loan Write-offs and Recovery Efforts

Government data reveals that FY19 saw the highest-ever loan write-offs at ₹2.36 lakh crore, while FY15 recorded the lowest at ₹58,786 crore. In FY24, banks wrote off ₹1.70 lakh crore, showing a decline from ₹2.16 lakh crore in the previous fiscal.

The Reserve Bank of India (RBI) clarified that banks must fully provision non-performing assets (NPAs) after four years, ensuring financial stability. However, the Finance Ministry stressed that write-offs do not mean a waiver for defaulters, and banks continue pursuing recoveries through legal mechanisms.

As of December 31, 2024, RBI data indicates that 29 large corporate borrowers, each with outstanding dues above ₹1,000 crore, remain classified as NPAs, amounting to ₹61,027 crore. Borrower identities remain undisclosed under Section 45E of the RBI Act, 1934. Recovery efforts are being carried out through civil courts, Debt Recovery Tribunals, the SARFAESI Act, and insolvency proceedings via the National Company Law Tribunal (NCLT).

Financial Year Total NPAs Written–Off NPAs written off for large industries
2014-15 58,786 31,723
2015-16 70,413 40,416
2016-17 1,08,373 68,308
2017-18 1,61,328 99,132
2018-19 2,36,265 1,48,753
2019-20 2,34,170 1,59,139
2020-21 2,04,272 1,27,050
2021-22 1,75,178 69,532
2022-23 2,16,324 1,14,528
2023-24 1,70,270 68,366
Total 16,35,379 9,26,947

Public Sector Banks Resurgence

Despite significant write-offs, Public Sector Banks (PSBs) have shown a strong recovery. The RBI’s Report on Trend and Progress of Banking in India 2023-24 noted that gross NPAs fell to a 13-year low of 2.5% by September 2024, down from 2.7% in March. Net NPAs also declined from 0.62% to 0.57%, reflecting better provisioning and improved asset quality.

For PSBs, gross NPAs dropped to 3.12% in September 2024, a remarkable improvement from the 14.58% peak recorded in March 2018. While asset quality has significantly improved, concerns persist over recoveries from large corporate defaulters. The Finance Ministry reaffirmed that banks are actively following up on overdue amounts through legal proceedings and direct negotiations.

Conclusion

Indian banks have taken significant steps to strengthen their financial health by reducing NPAs and improving asset quality. While large-scale loan write-offs remain a concern, active recovery efforts and regulatory measures are ensuring stability in the banking sector.

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. 

 

Ircon International Bags New Secretariat Complex Contract From Govt Of Meghalaya

Ircon International Limited has been awarded a significant contract by the Directorate of Urban Affairs, Government of Meghalaya. The project involves the construction of a New Secretariat Complex along with Campus Infrastructure in New Shillong City. It will be executed under the Engineering, Procurement and Construction model and is expected to be completed within 36 months.  

Project Partners & Collaboration

The contract has been secured by a joint venture between Badri Rai and Company and Ircon. In this partnership, Badri Rai and Company holds a 74% stake, while Ircon holds a 26% stake. The JV will oversee the entire execution of the project, ensuring smooth progress from the planning stage to completion.  

Financial Details of the Contract

The total contract value stands at ₹1,096.17 crore (including GST). Out of this, Ircon’s share amounts to ₹285 crores, aligning with its 26% stake in the project. This investment highlights Ircon’s role in major infrastructure projects in the country.  

Project Scope & Execution

The project includes the design, procurement and construction of the entire Secretariat Complex and supporting infrastructure. Given the scale and importance of the project, it will require advanced engineering solutions and efficient project management to be completed within the stipulated three-year timeframe.

Share performance 

As of March 18, 2025, at 1:10 PM, the shares of Ircon International Ltd are trading at ₹144.09 per share, reflecting a surge of 4.28% from the previous day’s closing price. Over the past month, the stock has registered a loss of 4.64%. The stock’s 52-week high stands at ₹351.60 per share, while its low is ₹134.24 per share.

Conclusion

This contract highlights Ircon’s role in major infrastructure projects and strengthens its presence in the construction sector. The joint venture with Badri Rai and Company ensures efficient execution, contributing to the development of Meghalaya’s administrative framework.

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.

Amazon Exploring India IPO, Discussing Indian Division Spin-Off

As per news reports, Amazon, the world’s largest e-commerce company, is reportedly considering spinning off its India business and listing it on the domestic stock market. This move could strengthen its presence in one of the world’s fastest-growing digital markets while addressing India’s strict e-commerce regulations. The company has already initiated discussions with investment banks and financial advisors to explore this possibility.

Amazon’s Potential Spin-off in India

The Seattle-based giant, currently the second-largest e-commerce player in India after Flipkart, has begun talks with investment banks for the IPO listing. It has also consulted its Wall Street banker, JP Morgan, and reached out to 8-10 investment firms in India. According to sources, the key motivations behind this move are data localisation requirements and the potential to operate an inventory-led model, which is currently restricted for foreign e-commerce firms.

Regulatory and Competitive Landscape

Indian regulations prohibit foreign e-commerce companies from directly holding inventory, requiring them to function as marketplaces connecting buyers and sellers. In contrast, domestic firms can manage inventory, allowing for faster deliveries, better branding, and lower logistics costs. Although Amazon may not immediately switch to an inventory-led model, a local listing could attract domestic investment and gradually open the door for regulatory flexibility.

Meanwhile, competition in India’s e-commerce space is intensifying. Walmart-backed Flipkart leads the market while emerging platforms like Meesho and quick-commerce startups such as Zomato-backed Blinkit, Swiggy Instamart, and Zepto are rapidly expanding. Amazon has been slower to tap into the booming quick-commerce segment and is currently running pilot services to catch up.

Conclusion

Amazon’s potential India listing could be a game-changer, providing the company with greater operational flexibility and compliance advantages. As competition heats up, securing a stronger foothold in the Indian market through a local spin-off could be a strategic move for 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. 

Pushing the Boundaries: How Small Caps Played Their Pitch Perfectly

At times Small and Mid Cap companies, just like slog over specialists players, are often overshadowed by bigger players of the game.. However, these players often harbour immense potential and emerge as match winners with their big shots, often for a six. We look at some of these power hitters who play by their strengths and take calculated risks that help the team to make the most of their potential, even when the odds are stacked against them.

Features of Mid and Small-Cap Companies

Although they may belong to different sectors of the industry, these companies have a few similar qualities that have helped them carve a niche for themselves in the market. These qualities are found in many other small-cap companies that help them in their meteoric rise:

Disruptive Innovation

Most of these companies are known to solve problems or to bring more convenience to their customers. Integrated with technology, their problem-solving approach is a strike on the weak spot of other leading companies. These companies made the competitor’s weak points their strength and rise to power.

Carving a Niche Market

Instead of driving the senses in different directions, these companies focus on capturing the niche market. Their focus helps them create a huge audience base. With the target customers in mind, their priorities narrowed down their offering to the niche audience. Their products/services are tailored to fit the customer needs and offer solutions more efficiently than larger peers. This helps them to create a more loyal customer base, which provides them with an additional competitive advantage.

Focus on customer experience

Although the primary motive of any company is to generate profit, it is not the ultimate goal. The companies that rise to be industry leaders have more often than not prioritised the experience of their customers. This helps them foster more loyalty and advocacy among their customers. Keeping the clientele experience at the forefront boosts the company’s sustainable growth.

Approach to feedback

Such companies are data-driven and agile in decision making. Their business priorities are vastly based on customer feedback rather than their intuition. Their agile, practical and positive approach gives them a competitive edge over larger peers. Criticism is what helps a company sustain itself in the market for a long time. These companies are always been quick on their feet when it comes to making changes in favour of the customer.

Conclusion

Every success story of the once small and mid cap companies serves as a testament to the potential growth offered by the Indian Stock Market. They symbolise the importance of identifying market need-gaps, leveraging technology, and building quick and effective customer centric solutions.

Every large cap was once a small cap, just as every legendary cricket player was once a beginner. Similarly, every investor is once a beginner. Don’t be intimidated by the complexities of the share market. Start your investment journey , learning in every step you take. Start your innings today!

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations

Gratuity Calculation: What Will Be Your Gratuity for ₹50,000 Last-Drawn Basic Salary and Will This Be Taxable?

Gratuity is a financial reward given by employers to employees as a token of appreciation for their long-term service. It is a statutory benefit under the Payment of Gratuity Act, 1972, ensuring that employees receive a lump sum upon retirement, resignation, or under certain other conditions. In case of the employee’s demise, their nominee or legal heir is entitled to receive the gratuity.

Who is Eligible for Gratuity?

To qualify for gratuity, an employee must:

  • Have completed at least 5 years of continuous service with the same organisation.
  • Be working in an organisation covered under the Payment of Gratuity Act, 1972 (which applies to establishments with 10 or more employees).
  • Receive gratuity under circumstances like:
    • Superannuation (Retirement)
    • Resignation
    • Termination (except in cases of misconduct)
    • Death or disability (in which case, the 5-year rule is waived)

How is Gratuity Calculated?

The gratuity amount is based on two key factors:

  1. Last-drawn basic salary (including dearness allowance, if applicable)
  2. Number of years of service

The Gratuity Formula:

(Last Drawn Basic Salary × Number of Years of Service) × 15/26

  • 15 represents 15 days of wages per completed year.
  • 26 refers to the working days in a month (excluding Sundays).

Example Calculation: Last-drawn Basic Salary ₹50,000 and 6 Years and 3 Months of Service

Applying the formula:

(50,000×6×15)/26=₹1,73,077

So, the employee would receive an estimated gratuity of ₹1,73,077.

Understanding Continuous Service

The 5-year rule requires uninterrupted service, meaning approved leave, medical absence, strikes, layoffs, or company lockouts do not break the continuity of service.

Additionally, if an employee completes 6 months or more in a year, it is counted as a full year when calculating gratuity.

Rules for Companies Regarding Gratuity

Employers are required to pay gratuity if:

  • The company has employed 10 or more individuals in the last year.
  • Even if the number of employees drops below 10 later, the company must still honour gratuity payments.

Is Gratuity Taxable?

Gratuity taxation depends on the type of employer:

    • Government Employees: The gratuity amount is fully exempt from tax.
  • Private Sector Employees:
    • If covered under the Payment of Gratuity Act, the lower of the following is tax-free:
      • Actual gratuity received
      • 15 days’ salary per completed year
      • ₹20 lakh (as per the latest exemption limit)
    • Any amount exceeding the exemption limit is taxable as per the employee’s income slab.

Conclusion

Gratuity is an essential financial benefit for employees, ensuring they receive a lump sum reward for their loyalty and service. Understanding eligibility criteria, company obligations, and tax implications can help employees plan better for their future financial needs.

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.