Best-performing tyre stocks include Viaz Tyres with a 30.98% 1Y return and Balkrishna Industries with 9.35%. CEAT also showed moderate growth at 5.74%. However, major players like MRF (-24.46%), Apollo Tyres (-18.52%), and JK Tyre (-38.15%) saw declines. Tolins Tyres had the largest drop at -51.49%, highlighting mixed trends in the sector.
The table below shows the top tyre stocks in India by market capitalisation and 1-year return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 1Y Return % |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | 9.35 |
| MRF Ltd | 105041.60 | 45492.3 | -24.46 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | -18.52 |
| CEAT Ltd | 2640.70 | 10531.18 | 5.74 |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | -38.15 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | -34.11 |
| Goodyear India Ltd | 818.25 | 1895.72 | -30.60 |
| Tolins Tyres Ltd | 116.13 | 466.44 | -51.49 |
| Emerald Tyre Manufacturers Ltd | 115.50 | 235.57 | -39.05 |
| Viaz Tyres Ltd | 63.00 | 77.24 | 30.98 |
Content:
- Introduction To Tyres Stocks In India by Market Cap
- What Are Tyres Stocks In India?
- Features Of Tyres Stocks In India by Market Cap
- Best Tyres Stocks In India by Market Cap
- Top Tyres Stocks by Market Cap
- Tyres Stocks In India by Market Cap
- High Dividend Yield Tyres Stocks In India by Market Cap
- Historical Performance Of Tyres Stocks In India
- Factors To Consider When Investing In Tyres Stocks
- How To Invest In Best Tyres Stocks In India by Market Cap?
- Benefits Of Best Tyres Stocks In India
- Risks Of Investing In Tyres Stocks In India
- Who Should Invest In Tyres Stocks In India?
- FAQs – Best Tyres Stocks In India by Market Cap
Introduction To Tyres Stocks In India by Market Cap
Balkrishna Industries Ltd
Balkrishna Industries Ltd (BKT) is a leading Indian tyre manufacturer specializing in off-highway tyres for agricultural, industrial, construction, and mining applications. Founded in 1987, BKT has a strong global presence, exporting to over 160 countries.
The company is known for its high-quality radial and bias tyres, catering to niche markets. With a market capitalization of ₹49,186.66 crore and a 1-year return of 9.35%, BKT remains a key player in the Indian tyre sector. Its focus on innovation, R&D, and sustainability, along with strategic global partnerships, has strengthened its competitive edge in the industry.
- Close Price ( ₹ ): 2499.05
- Market Cap ( Cr ): 49186.66
- 1Y Return %: 9.35
- 6M Return %: -19.64
- 1M Return %: -3.77
- 5Y CAGR %: 19.68
- % Away From 52W High: 35.05
- 5Y Avg Net Profit Margin %: 16.12
MRF Ltd
MRF Ltd, established in 1946 by K. M. Mammen Mappillai in Chennai, India, began as a toy balloon manufacturing unit and has grown into the country’s largest tyre manufacturer. The company produces a diverse range of tyres for motorcycles, passenger cars, trucks, buses, and off-road vehicles, serving both domestic and international markets.
Beyond tyres, MRF’s product portfolio includes tubes, flaps, tread rubber, conveyor belts, paints, and toys. The company operates multiple manufacturing facilities across India, including plants in Tamil Nadu, Kerala, Telangana, and Gujarat. MRF’s commitment to innovation is evident through its significant investments in research and development, leading to the introduction of advanced products like radial and eco-friendly tyres.
- Close Price ( ₹ ): 105041.60
- Market Cap ( Cr ): 45492.3
- 1Y Return %: -24.46
- 6M Return %: -23.52
- 1M Return %: -2.49
- 5Y CAGR %: 9.76
- % Away From 52W High: 36.95
- 5Y Avg Net Profit Margin %: 6.25
Apollo Tyres Ltd
Apollo Tyres Limited is involved in the production and distribution of automotive tires across various segments such as automobile tubes and automobile flaps. The company operates in geographical segments including Asia Pacific, Middle East, and Africa (APMEA), Europe, and others.
It serves distinct consumer groups through its brands Apollo and Vredestein. The Apollo brand offers a wide range of tires for commercial, passenger vehicles, two-wheelers, farm, and industrial use. The Vredestein brand provides products like car tires, tires for agricultural and industrial machinery, and bicycle tires.
- Close Price ( ₹ ): 400.95
- Market Cap ( Cr ): 25870.84
- 1Y Return %: -18.52
- 6M Return %: -23.88
- 1M Return %: -1.83
- 5Y CAGR %: 30.94
- % Away From 52W High: 45.88
- 5Y Avg Net Profit Margin %: 3.79
CEAT Ltd
CEAT Limited, an Indian tire company, specializes in the manufacturing of automotive tires, tubes, and flaps. They produce tires for a wide range of vehicles, including two/three wheelers, passenger cars, utility vehicles, commercial vehicles, and off-highway vehicles.
The company’s tire lineup includes categories for cars, bikes, and scooters. CEAT provides tires for popular car models such as Maruti Alto, Maruti Swift, and Maruti Wagon R, as well as for various bikes like Hero Splendor, Honda Shine, and Yamaha FZ. For scooters, they offer tires for models like Honda Activa and TVS Jupiter.
- Close Price ( ₹ ): 2640.70
- Market Cap ( Cr ): 10531.18
- 1Y Return %: 5.74
- 6M Return %: -12.06
- 1M Return %: -3.00
- 5Y CAGR %: 25.54
- % Away From 52W High: 35.52
- 5Y Avg Net Profit Margin %: 3.36
JK Tyre & Industries Ltd
JK Tyre & Industries Limited, an Indian tire manufacturer, along with its subsidiaries, is involved in the development, production, marketing, and distribution of automotive tires, tubes, flaps, and retreads. The company operates in segments including India, Mexico, and other regions.
JK Tyre sells its tires to vehicle manufacturers for original equipment fitment and also in replacement markets globally, catering to various vehicle segments such as passenger vehicles, commercial vehicles, farming equipment, off-road vehicles, and two and three-wheelers.
- Close Price ( ₹ ): 267.90
- Market Cap ( Cr ): 7424.57
- 1Y Return %: -38.15
- 6M Return %: -39.60
- 1M Return %: -8.15
- 5Y CAGR %: 39.02
- % Away From 52W High: 90.74
- 5Y Avg Net Profit Margin %: 2.79
TVS Srichakra Ltd
TVS Srichakra Limited, an India-based company, produces a variety of tyre brands including TVS Eurogrip, Eurogrip, and TVS Tyres. The company manufactures and exports tyres for two and three-wheelers, as well as off-highway vehicles. Its primary business segment is Automotive Tyres, Tubes, and Flaps.
Within India, the company supplies tyres to original equipment manufacturers (OEMs) and the replacement market through a network of depots, distributors, and retailers. Its products are distributed in more than 85 countries worldwide and include two and three-wheeler tyres, all-terrain vehicle tyres, construction tyres, industrial pneumatic tyres, earthmover tyres, agriculture tyres, and multi-purpose tyres.
- Close Price ( ₹ ): 2596.80
- Market Cap ( Cr ): 2027.97
- 1Y Return %: -34.11
- 6M Return %: -41.79
- 1M Return %: -9.45
- 5Y CAGR %: 16.90
- % Away From 52W High: 88.69
- 5Y Avg Net Profit Margin %: 3.03
Goodyear India Ltd
Goodyear India Limited, an India-based company, is involved in the production and distribution of tires, tubes, and flaps. It operates a manufacturing plant in Ballabgarh, Haryana, India. The company specializes in manufacturing and selling automotive tires, including farm and commercial truck tires under its own brand Goodyear.
Additionally, it markets passenger car tires produced by Goodyear South Asia Tyres Private Limited in Aurangabad. Other products offered by the company include tubes and flaps. Goodyear India Limited has manufacturing facilities in 23 countries worldwide.
- Close Price ( ₹ ): 818.25
- Market Cap ( Cr ): 1895.72
- 1Y Return %: -30.60
- 6M Return %: -29.82
- 1M Return %: -11.33
- % Away From 52W High: 53.99
- 5Y Avg Net Profit Margin %: 4.91
Tolins Tyres Ltd
Tolins Tyres Ltd, established in 1982, has evolved into a prominent Indian tyre manufacturer specializing in bias tyres for two and three-wheelers, light commercial vehicles, and agricultural machinery.
The company’s product portfolio also includes precured tread rubber and retreading products, such as bonding gum and vulcanizing solutions. Tolins Tyres operates multiple manufacturing facilities in India and has expanded its presence to over 40 countries, including markets in the Middle East, East Africa, Kenya, Jordan, and Egypt.
- Close Price ( ₹ ): 116.13
- Market Cap ( Cr ): 466.44
- 1Y Return %: -51.49
- 6M Return %: -51.49
- 1M Return %: -18.96
- % Away From 52W High: 123.20
Emerald Tyre Manufacturers Ltd
Emerald Tyre Manufacturers Ltd, established in 2002 and based in Chennai, India, specializes in the research, development, manufacturing, and servicing of industrial tyres and wheels.
The company offers a comprehensive range of products tailored for material handling and warehousing equipment, including forklifts, reach stackers, empty container handlers, access platforms, tractors, agricultural implements, lawn and garden mowers, mining equipment, and backhoe loaders.
- Close Price ( ₹ ): 115.50
- Market Cap ( Cr ): 235.57
- 1Y Return %: -39.05
- 6M Return %: -39.05
- 1M Return %: -8.68
- % Away From 52W High: 72.25
Viaz Tyres Ltd
Viaz Tyres Limited, established in 2018 and headquartered in Ahmedabad, India, specializes in manufacturing rubber tubes for bicycles, two and three-wheelers, passenger vehicles, and heavy-load industrial vehicles. T
The company also offers ancillary products such as Off-The-Road (OTR) tyre tubes, Animal Driven Vehicle (ADV) tubes, engine oil, and grease under white-label agreements. In response to market demand, Viaz Tyres has expanded its product line to include bicycle tyres produced on a job-work basis.
- Close Price ( ₹ ): 63.00
- Market Cap ( Cr ): 77.24
- 1Y Return %: 30.98
- 6M Return %: 8.53
- 1M Return %: 4.71
- % Away From 52W High: 16.67
- 5Y Avg Net Profit Margin %: 3.36
What Are Tyres Stocks In India?
Tyre stocks in India refer to shares of companies engaged in manufacturing, retreading, and distributing tyres for various vehicles, including two-wheelers, passenger cars, commercial trucks, and industrial equipment. Major players in the Indian tyre industry include MRF Ltd, Apollo Tyres, CEAT, JK Tyre & Industries, and Balkrishna Industries. These companies have strong market positions, benefiting from India’s growing automotive sector, infrastructure development, and increasing exports.
Features Of Tyres Stocks In India by Market Cap
The key features of tyre stocks in India revolve around their cyclical nature, dependency on raw material prices, and growth driven by the automotive sector. These stocks experience fluctuations based on vehicle demand, government policies, and global trade dynamics, impacting profitability and market performance.
- Market Leaders Dominate – Major players like MRF, Apollo Tyres, and CEAT dominate the industry, controlling a significant market share. Their strong brand presence, extensive distribution networks, and research investments provide them with a competitive edge, ensuring steady demand and profitability in domestic and global markets.
- Raw Material Sensitivity – Tyre manufacturing relies on key raw materials like natural and synthetic rubber, crude oil derivatives, and carbon black. Fluctuations in global commodity prices directly impact production costs, affecting profit margins and the stock performance of tyre companies in India.
- Cyclical Nature – Tyre stocks follow economic cycles, rising with automobile sales and infrastructure development. During downturns, demand for new tyres may decline, while the replacement tyre market remains stable, offering some resilience to stock price fluctuations in economic slowdowns.
- Export Potential – Many Indian tyre manufacturers have expanded globally, exporting products to Europe, the Middle East, and Africa. A strong export presence helps diversify revenue streams, reducing dependency on domestic demand and mitigating risks associated with market saturation or economic slowdowns.
- Government Policies Impact – Regulations on import duties, GST rates, and environmental policies influence tyre manufacturers’ costs and pricing. Policies promoting electric vehicles (EVs) and sustainable tyres also drive industry shifts, impacting research, production strategies, and stock performance in the long run.
Best Tyres Stocks In India by Market Cap
The table below shows the best tyres stocks in India by market cap and 6-month return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 6M Return % |
| Viaz Tyres Ltd | 63.00 | 77.24 | 8.53 |
| CEAT Ltd | 2640.70 | 10531.18 | -12.06 |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | -19.64 |
| MRF Ltd | 105041.60 | 45492.3 | -23.52 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | -23.88 |
| Goodyear India Ltd | 818.25 | 1895.72 | -29.82 |
| Emerald Tyre Manufacturers Ltd | 115.50 | 235.57 | -39.05 |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | -39.6 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | -41.79 |
| Tolins Tyres Ltd | 116.13 | 466.44 | -51.49 |
Top Tyres Stocks by Market Cap
The table below shows the top tyres stocks by market cap and 1-month return.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 1M Return % |
| Viaz Tyres Ltd | 63.00 | 77.24 | 4.71 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | -1.83 |
| MRF Ltd | 105041.60 | 45492.3 | -2.49 |
| CEAT Ltd | 2640.70 | 10531.18 | -3.0 |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | -3.77 |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | -8.15 |
| Emerald Tyre Manufacturers Ltd | 115.50 | 235.57 | -8.68 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | -9.45 |
| Goodyear India Ltd | 818.25 | 1895.72 | -11.33 |
| Tolins Tyres Ltd | 116.13 | 466.44 | -18.96 |
Tyres Stocks In India by Market Cap
The table below shows the tyres stocks in India by market cap and 5-year average net profit margin.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 5Y Avg Net Profit Margin % |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | 16.12 |
| MRF Ltd | 105041.60 | 45492.3 | 6.25 |
| Goodyear India Ltd | 818.25 | 1895.72 | 4.91 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | 3.79 |
| CEAT Ltd | 2640.70 | 10531.18 | 3.36 |
| Viaz Tyres Ltd | 63.00 | 77.24 | 3.36 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | 3.03 |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | 2.79 |
High Dividend Yield Tyres Stocks In India by Market Cap
The table below shows the high dividend yield tyres stocks in India by market cap.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | Dividend Yield % |
| Goodyear India Ltd | 818.25 | 1895.72 | 4.99 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | 1.79 |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | 1.58 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | 1.47 |
| CEAT Ltd | 2640.70 | 10531.18 | 1.15 |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | 0.63 |
| Emerald Tyre Manufacturers Ltd | 115.50 | 235.57 | 0.62 |
| MRF Ltd | 105041.60 | 45492.3 | 0.19 |
Historical Performance Of Tyres Stocks In India
The table below shows the historical performance of tyres stocks in India and the 5-year CAGR.
| Stock Name | Close Price ₹ | Market Cap (In Cr) | 5Y CAGR % |
| JK Tyre & Industries Ltd | 267.90 | 7424.57 | 39.02 |
| Apollo Tyres Ltd | 400.95 | 25870.84 | 30.94 |
| CEAT Ltd | 2640.70 | 10531.18 | 25.54 |
| Balkrishna Industries Ltd | 2499.05 | 49186.66 | 19.68 |
| TVS Srichakra Ltd | 2596.80 | 2027.97 | 16.9 |
| MRF Ltd | 105041.60 | 45492.3 | 9.76 |
Factors To Consider When Investing In Tyres Stocks
The factors to consider when investing in tyre stocks include fundamental analysis, which evaluates a company’s financial health, revenue growth, profit margins, and debt levels. Investors should assess these aspects to determine the long-term potential and stability of tyre companies before making investment decisions.
- Raw Material Costs – Tyre manufacturing depends on raw materials like rubber, crude oil derivatives, and carbon black. Price fluctuations in these commodities significantly impact production costs, affecting profitability and stock valuations, making it crucial to monitor global raw material price trends.
- Market Demand & Cyclicality – The performance of tyre stocks is tied to the automobile sector. Rising vehicle sales boost demand for tyres, while economic downturns can slow growth. The replacement tyre market, however, provides stability even during weak economic conditions.
- Export and Global Presence – Companies with strong international market presence gain an advantage by diversifying revenue sources. Tyre exports to Europe, the Middle East, and Africa help Indian manufacturers reduce domestic dependency, benefiting stock performance even when local demand slows down.
- Technological Advancements – Innovation in tyre technology, such as fuel-efficient and eco-friendly tyres, impacts a company’s growth. Firms investing in research and development to meet changing market trends and regulatory demands can strengthen their competitive edge and improve profitability.
- Government Policies & Regulations – Tariffs, import duties, and policies on pollution control and sustainable manufacturing impact tyre companies. Favorable policies, subsidies for EV-compatible tyres, and trade agreements influence stock performance, making it essential for investors to track regulatory changes affecting the industry.
How To Invest In Best Tyres Stocks In India by Market Cap?
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Benefits Of Best Tyres Stocks In India
The main advantages of investing in the best tyre stocks in India include stability, growth potential, and long-term returns. Leading companies like MRF, Apollo Tyres, and Balkrishna Industries have strong market positions, benefiting from increasing vehicle demand, infrastructure growth, and global expansion opportunities.
- Market Leadership & Brand Value – Companies like MRF and CEAT dominate the industry with strong brand recognition and distribution networks. Their established market presence ensures consistent demand, making them reliable investment options with lower volatility compared to smaller or newer tyre companies.
- Consistent Revenue from Replacement Market – Tyre demand is not solely dependent on new vehicle sales. JK Tyre and Apollo Tyres benefit from the replacement market, which ensures stable revenue as consumers regularly replace tyres, even during economic slowdowns.
- Global Expansion & Export Growth – Companies like Balkrishna Industries and TVS Eurogrip have expanded internationally, exporting tyres to Europe, the Middle East, and Africa. Their strong export presence reduces dependence on domestic sales, helping sustain stock performance even in fluctuating local markets.
- Technological Innovations & Premium Products – Leading tyre manufacturers invest in innovation, producing fuel-efficient, radial, and EV-compatible tyres. MRF and Apollo Tyres focus on R&D to create high-performance products, ensuring long-term competitive advantage and increased profitability.
- Favorable Government Policies & Growth Potential – Government initiatives promoting infrastructure and electric vehicles (EVs) create growth opportunities. CEAT and JK Tyre are adapting to these trends, investing in EV-specific tyres and sustainable manufacturing, enhancing their long-term investment appeal.
Risks Of Investing In Tyres Stocks In India
The main risk of investing in tyre stocks in India is their dependence on raw material costs and cyclical market demand. Factors like fluctuating rubber prices, global economic conditions, and regulatory changes can significantly impact the profitability and stock performance of tyre companies.
- Raw Material Price Volatility – Tyre manufacturing heavily relies on rubber, crude oil derivatives, and carbon black. Price fluctuations in these commodities directly affect production costs, leading to margin compression and impacting the financial performance of tyre companies like MRF and Apollo Tyres.
- Cyclical Demand & Economic Slowdowns – The demand for tyres is closely linked to the automobile industry. Economic downturns can reduce vehicle sales, directly impacting tyre manufacturers’ revenues. However, the replacement tyre market provides some stability during weak economic conditions.
- Intense Market Competition – The tyre industry in India is highly competitive, with companies like CEAT, JK Tyre, and Balkrishna Industries competing for market share. Price wars, aggressive marketing, and discounts can erode profitability, making stock performance unpredictable.
- Regulatory & Environmental Challenges – Government policies on import duties, GST, and pollution control regulations impact manufacturing costs. Stringent environmental norms may require companies to invest in sustainable production, increasing operational expenses and affecting profitability.
- Foreign Exchange & Export Risks – Many tyre companies export products globally, exposing them to currency fluctuations. Unfavorable forex rates and trade restrictions can impact revenue from international markets, making companies like Balkrishna Industries and TVS Eurogrip vulnerable to global economic shifts.
Who Should Invest In Tyres Stocks In India?
Investors looking for steady growth, cyclical opportunities, and exposure to the automobile and infrastructure sectors should consider tyre stocks in India. These stocks suit those with a medium to long-term investment horizon and an understanding of market cycles and raw material dependencies.
- Long-Term Investors – Tyre stocks benefit from growing vehicle demand and infrastructure development. Investors willing to hold for extended periods can capitalize on sector expansion, technological advancements, and consistent demand from the replacement tyre market, ensuring steady returns over time.
- Cyclical Investors – Those who understand market cycles can benefit from tyre stocks, which rise during economic growth and dip in downturns. Buying during low phases and selling during peaks can generate substantial returns for investors familiar with cyclical investing strategies.
- Value Investors – Investors focusing on fundamentally strong companies with solid financials can find good opportunities in tyre stocks. Companies with strong market positions, competitive pricing, and consistent revenue growth can offer attractive valuations for long-term wealth creation.
- Diversified Portfolio Holders – Investors looking to diversify beyond traditional automobile or manufacturing stocks can consider tyre stocks. These companies provide indirect exposure to the auto industry while maintaining resilience due to replacement demand and export growth.
FAQs – Best Tyres Stocks In India by Market Cap
1. What are Tyres Stocks in India?
Tyre stocks in India refer to shares of companies engaged in manufacturing and selling tyres for various vehicles, including two-wheelers, cars, trucks, and industrial equipment. Major players like MRF, Apollo Tyres, CEAT, and JK Tyre dominate the sector. These stocks are influenced by automobile demand, raw material prices, government policies, and export opportunities, making them cyclical yet growth-oriented investments.
2. Which Are The Best Tyres Stocks In India?
The Best Tyres Stocks In India #1: Balkrishna Industries Ltd
The Best Tyres Stocks In India #2: MRF Ltd
The Best Tyres Stocks In India #3: Apollo Tyres Ltd
The Best Tyres Stocks In India #4: CEAT Ltd
The Best Tyres Stocks In India #5: JK Tyre & Industries Ltd
The top 5 stocks based on market capitalization.
3. What are the top 5 Tyres Stocks?
The top 5 tyres stocks based on 5 year average net profit margin’ are Balkrishna Industries Ltd, MRF Ltd, Goodyear India Ltd, Apollo Tyres Ltd, and CEAT Ltd.
4. How To Invest In Tyres Stocks In India?
To invest in tyre stocks in India, open a demat and trading account with a reliable broker like Alice Blue. Research leading companies such as MRF, Apollo Tyres, and CEAT, analyze their financials, and track market trends. Use Alice Blue’s trading platform to buy stocks through NSE or BSE, considering long-term growth potential and sector performance.
5. Is It Good To Invest In Tyres Stocks In India?
Yes, investing in tyre stocks in India can be a good opportunity for long-term investors. Companies like MRF, Apollo Tyres, and CEAT benefit from growing automobile demand, infrastructure development, and exports. However, these stocks are cyclical and affected by raw material costs, so investors should analyze market trends and financial performance before making investment decisions.
6. Is Diversification Important When Investing In Tyres Sector Stocks?
Yes, diversification is important when investing in tyre sector stocks to mitigate risks associated with raw material price fluctuations, market cycles, and regulatory changes. Spreading investments across multiple tyre companies and related sectors, such as automobile and infrastructure, helps balance portfolio volatility and ensures stability.
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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
