Sustainability Financial News

Sebi is evaluating various accounting standards and also exploring the feasibility of extending its mandatory sustainability reporting norms to more listed companies than the current 1,000 “when the time is right”, people aware of the matter said. Given the growing importance of sustainability worldwide, the regulator wants Indian firms to prepare for such “non-financial accounting” standards that are going to dominate the world of financing and influence the way funds are raised, one of them said.

«Real estate as a sector is looking attractive to us. The only challenge is that the valuations have gone up. So, one needs to be very selective in real estate, but any kind of a price correction should be a good opportunity to buy,» says Pankaj Pandey, Head Research, ICICIdirect.com. How have you read into the standalone quarterly numbers for PB Fintech, which has been pretty strong and completely different aside of that is Cummins as well, where the profits grew about 33%? Pankaj Pandey: So, do not cover both the stocks, but if I have to talk on, say, for example, Shree Cement, the numbers are definitely below expectation. While we might see volume growth going forward because they are expanding their capacities by 15 million tonnes. But cement is seeing a lower realisation, largely more in southern markets. But in general, you see a softness in the prices and probably that is going to be there for another quarter.

dyers and weavers, in uplifting the sector, applauding their invaluable contributions. I fully recognize and respect the contributions of traditional communities and especially women across the country, without whom the handloom sector would face great disadvantage. Treating them with dignity and respect is imperative to sustain and enhance their contributions.

Vedanta will save Rs 1,000 crore in interest costs each year after utilising the entire proceeds from its recent fund raising to repay debt, chief financial officer Ajay Goel said. In its earnings for the June quarter, the company has seen profit surge by more than 50%, while margins are at a seven-quarter high. «In the current fiscal, we will save around ₹750 crore in interest costs, and after that we will have the benefit of ₹1,000 each year,» Goel told ET. The natural resources major raised ₹8,500 crore through a qualified institutional placement-its first ever- ast month. The fundraising involved several prominent investors such as Abu Dhabi Investment Authority, Goldman Sachs AMC, Nippon Mutual Fund, SBI Mutual Fund, UTI Mutual Fund and ICICI Mutual Fund.

performance-based pay of their chief executives and senior management, to factor in the company's sustainability goal outcomes in appraisal KPIs amid their increasing influence on investor and consumer sentiments. Companies including ITC, Hindustan Unilever (HUL), Mahindra & Mahindra, Lupin, Cipla and Emaar have started to link their performance in areas like water and carbon positivity, plastic neutrality, climate-resilience, and diversity and inclusion in hiring to the remuneration of their senior management. This comes at a time when ESG (environment, social and governance practices) is becoming a buzz word in business deals, investment decisions and even consumer response to products, industry experts and executives said. ESG goals are becoming more common in annual KPIs (key performance indicators) for executive leaders, said Anandorup Ghose, partner at Deloitte India. While the weightage to these goals varies by industry, approximately around 10-15% weightage is assigned to ESG-linked metrics, he said.

Airtel said on Tuesday. The company also said it plans to roll out fixed wireless access (FWA) broadband services on pure 5G network by September. Airtel said its mobile subscribers' average revenue per user (ARPU) increased by 5.4 per cent to Rs 211 during June 2024 quarter compared to Rs 200 in the same period a year ago. Bharti Airtel Managing Director Gopal Vittal during the company's earnings call on Tuesday said that tariff hike in July was very much required for the financial health of the industry.

In its latest factsheet, the Blue Whale fund acknowledged that the stock has «its roots in traditional cigarettes», but said that it has transformed to become a global pioneer in the transition to a «healthier, smoke-free world». It has created alternative nicotine products, which comprise around 40% of Philip Morris' revenue. Blue Whale prepared to sell long-term holding Adobe if it fails to tackle 'AI opportunity' Additionally, Blue Whale highlighted that the company was added to the Dow Jones Sustainability World index last year, «in recognition of its efforts to improve world h...

The Economic Survey of 2023-24 has a distinct tone of defensiveness. While it has done well in identifying the multitude of challenges facing the country, it has not fully addressed the deep underlying causes that have led to India’s vulnerability, especially in the face of growing nationalism and climate change.

Bharti Airtel initially jumped almost 2% in early morning trade on BSE a day after its consolidated net profit for the June quarter rose more than two-and-a-half times from a year earlier and doubled sequentially, helped by an exceptional gain, along with an improvement in average revenue per user (ARPU) and lower finance costs. Airtel shares were eventually trading 0.61% higher at Rs 1474.95 on the exchange.

India's gold industry, with the support of the World Gold Council (WGC), has established a self-regulatory organisation in a bid to increase consumer confidence and restore trust, the WGC said on Tuesday. The newly-formed Indian Association for Gold Excellence and Standards (IAGES) aims to promote fair, transparent and sustainable practices in the bullion industry, along with regulatory compliance, a code of conduct, and an audit framework, said Sachin Jain, CEO of WGC's Indian operations.

Tata Consultancy Services, digital printing company Xerox said it has a $355 million tech spending commitment under the seven-year contract. In a regulatory filing in the US, Xerox also disclosed its spending commitment with Microsoft at $125 million and with SAP at $45 million for the same period under this multi-party agreement. TCS did not respond to an email seeking comment sent on Monday morning.

Actis, a global investor in sustainable infrastructure, and Mahindra Lifespaces, the realty and infrastructure development arm of the Mahindra Group, has set up a joint venture to develop over 16-17 million sq ft industrial and logistics real estate facilities across India. The joint platform Ample Parks is looking to acquire more than 700-750 acres land parcels across the country to develop these 15-17 industrial and logistics parks through greenfield and brownfield sites over the next five-six years. “India’s industrial and logistics sector represents a tremendous investment opportunity, with the country’s market strongly benefitting from a boom in consumer demand domestically and a realignment of supply chains globally in favour of India, with many corporations implementing a China Plus One strategy,” said Brian Chinappi, Partner, head of real estate at Actis.

Mahindra Lifespace Developers Ltd and Actis have formed a joint venture platform 'Ample Parks' for the development of industrial and logistics parks and will build their first 70-acre project in Chennai. Actis, a leading global investor in sustainable infrastructure, and Mahindra Lifespace have formally launched a joint venture Ample Parks, an indian industrial and logistics real estate developer and operator, according to a company statement. The joint venture (JV) Ample Parks aims to acquire and develop about 1.5 million square metres of greenfield and brownfield sites in key markets across India over the next few years. The JV aims to establish itself as a leading industrial and logistics real estate solutions provider to global and local corporations.

Mint in June compared to their performance six months ago, as per the latest Mint macro tacker. Eight of these indicators were above their five-year average trends, whereas three were below it. In comparison to six months ago, only six of these indicators were above their five-year average and four were below it.

Madhya Pradesh resulted in the deaths of nine children who were buried under the debris of a collapsed wall on Sunday. Several other children sustained injuries and are currently receiving medical treatment. The incident took place during a religious programme in Shahpur village under Rehli assembly seat. Nine children, aged 10 to 15 years, were killed in the wall collapse incident at the religious programme in Shahpur, Sagar Divisional Commissioner Virendra Singh Rawat told PTI over phone.

four members voted for a status quo, while two members–Ashima Goyal and Jayanth R Varma–voted for reducing the repo rate by 25 basis points and changing the stance from withdrawal of accommodation to neutral. “I think that the RBI will be very critically targeting the 4% levels for CPI inflation," said Indranil Pan, chief economist, Yes Bank.

Jamsetji Tata, the founder of the Tata Group, made a strategic choice in the 1890s to shut down the Tata Shipping Line, demonstrating his willingness to exit from unviable ventures. This tough decision was driven by his effort to break the monopoly of the English P.&O. shipping line that dominated exports from India during the 1880s and 1890s, charging high freight rates and favoring British and Jewish firms. Jamsetji Tata's textile business suffered due to P.&O.'s exorbitant freight rates and discriminatory practices. Determined to challenge this, he traveled to Japan to collaborate with Nippon Yusen Kaisha (NYK), the largest shipping line in Japan. NYK agreed to partner with Jamsetji, provided he took equal risks and managed the ships himself. To launch the 'Tata Line,' he chartered an English ship named 'Annie Barrow' at a fixed rate of 1,050 pounds per month, marking the first venture bearing the Tata name. Believing the Tata Line would lower freight rates for the entire Indian textile industry, Jamsetji set the rates at Rs 12 per tonne, compared to P.&O.'s Rs 19 per tonne. Soon after, he chartered a second ship, 'Lindisfarne.' His efforts received praise, with The Tribune newspaper commenting in October 1894 that it had «been the subject of general praise in the industrial centre of India.»

equities in July on the back of expectation of continued policy reforms and sustained economic growth and better-than-expected earnings season. However, they pulled Rs 1,027 crore from equities in the first two trading sessions of this month (August 1-2), data with the depositories showed. There has been a mixed trend with respect to FPI flows following the budget announcement on increase in capital gains tax on equity investments.

NCL) CMD B Sairam on Saturday said that the company despatched 94 per cent of its total coal to the power sector and contributed Rs 15,000 crore to the central as well as state exchequer in FY24 in the forms of royalty and GST. Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation. Speaking at the sidelines of Singrauli Industrial Summit 2024 organised by NCL at its headquarters, the CMD of the Coal India arm also outlined the company's contribution to the inclusive development of the Singrauli region. He also underscored the benefits of adopting an integrated approach based on shared values for the holistic development of Singrauli.

global food security, said Indian Prime Minister Narendra Modi while Speaking at the inauguration ceremony of the 32nd International Association of Agricultural Economists (ICAE). «Along with water shortage and climate change, nutrition is a big challenge but India has a solution for this — India is the biggest producer of millets — to which, the world called as a superfood, we have named it as Shri Ann. Based on the principle of minimum water and maximum production, India's superfood can solve the issue of global nutrition concern. India is willing to share its basket of superfoods with the world,» the Prime Minister said in his address. Moreover, India is promoting chemical-free natural farming, he added.

McKinsey's managing partner in February 2024, Bob Sternfels faced the crucial decision of appointing a global leader of firm strategy to navigate the management consultancy through the pervasive impact of technology, the disruptive potential of AI and rapidly changing client demands. His selection for the role was Ashutosh Padhi, an IIT-Kanpur and IIM-Ahmedabad alumnus. “I chose Ashutosh Padhi, who led our North America business, to drive the innovation agenda that’s critical for the firm’s future. He is now in charge of ensuring we innovate our models rapidly,” Sternfels told ET a few days back.