Sustainability Financial News

₹5,922 crore (about $707 million) through a 57.56% promoter stake acquisition, one of the largest cross-border deals in the communications platform space. That was Gupta’s claim to fame: Having bootstrapped a billion-dollar company and selling it to a global peer. Gupta is also a keen investor.

FMCG firm Adani Wilmar jumped 6.4% to Rs 370.7 in Friday's intraday trade on BSE after billionaire Gautam Adani's flagship entity Adani Enterprises on Thursday approved the demerger of the company's food FMCG business to Adani Wilmar. «It is believed that the proposed demerger will unlock the direct value of the demerged company’s shareholders into the resulting company and allow a focused strategy and specialization for sustained growth for enhanced value, which would be in the best interest of all the stakeholders and the persons connected with the aforesaid companies,» Adani Enterprises said in an exchange filing.

Packaged consumer goods maker Dabur India on Thursday reported 8.27% rise in consolidated net profit at₹494.35 crore for the quarter ended June 2024, meeting analyst estimates. The maker of Real juice and Vatika shampoo reported that rural demand outpaced urban demand by 350 bps in the quarter, even as an overall challenging demand environment marked by high food inflation persisted.

Despite its stance that «recent indicators suggest that economic activity has continued to expand at a solid pace», the committee said on Wednesday (31 July) that «the committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%».  This move comes just a few weeks after data released by the Bureau of Labor Statistics revealed that the annual rate of US inflation had fallen to 3% in June, surpassing many economists' expectations by 0.1%.  Last week, though, core PCE inflation returned a...

WASHINGTON — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

In a remarkable demonstration of community driven enthusiasm and trust, $BLOOD has successfully raised $300,000 In just 4 hours during its pre-sale launch , which was officially started on July 28th, 2024. This impressive achievement was realized with minimal marketing, relying primarily on organic growth and genuine community support.

derivatives should achieve their desired objective. The regulatory intent is to sustain adequate depth in the F&O segment to facilitate hedging. Trading volumes in F&O will, thus, have to decline significantly, but not to a point that affects price discovery. As follow-up measures, Sebi will have to ensure the purged retail speculation does not resurface in other market segments, such as smallcaps. The trading ecosystem will, on its part, have to recover from the revenue setback, and its business models in the new regulatory scenario should come under tighter scrutiny. Brokers are most vulnerable to the systemic interface with the retail investor. Finally, vigilance is necessary that buckaroo retail investing does not migrate to shadow trading platforms such as dabba trading that operate beyond the regulatory gaze.

Nissan says it has a “sustainability plan” to become a greener and more inclusive company

Investment Week understands that he is departing to pursue a career outside of fund management. Marshall joined as a senior analyst in 2014, before being promoted to running money in 2016, when he took over the Invesco Sustainable UK Companies (UK) fund. He has also run the Invesco Pan European Equity Income and Invesco Pan European Equity funds since 2020. Following his departure, the Sustainable portfolio will be renamed the Invesco UK Companies fund (UK) and drop its ESG requirements. Invesco bolsters UK distribution team with four promotions John Surplice, head of EMEA eq...

The Bank of Japan has raised its key interest rate to 0.25% from 0.1%, acting to curb the yen's slide against the U.S. dollar

People who live near East Palestine

Jeep and Ram maker Stellantis says it will offer buyout packages to many of its U.S. white-collar workers just five days after the company’s CEO said the auto industry is in the middle of a significant storm

Next, Decathlon, Primark, GAP, Walmart, Pepco, and Tesco are planning to ramp up sourcing from India, industry executives told ET.

Mint. However, this does not mean investors should sink into a morass of melancholy. “While this shift may occur gradually, investors should consider strategies to mitigate the impact.

Air New Zealand has scrapped its 2030 carbon emissions reduction targets, citing lags in producing new planes, a lack of alternative fuel and “challenging” regulatory and policy settings

India is moving towards a new fiscal policy framework. Finance minister Nirmala Sitharaman said in the Union budget announced earlier this month that after 2025-26, the government will try to keep the fiscal deficit at a level “such that the central government debt will be on a declining path as a percentage of GDP." What does this mean? India currently has a fiscal law that expects the Union government to keep its annual fiscal deficit below 3% of gross domestic product (GDP).

«So, food volumes are likely to grow further. Edible oil might stable at around 8% to 10% instead of 12%. And industry essentials would see same volume growth or little better going forward,» says Angshu Mallick, MD & CEO, Adani Wilmar. I was talking about the volume growth and the trends that we are watching out for in terms of volume growth, do you think this 12% growth is something that is sustainable for the rest of the year or could we expect better growth in FY25? Angshu Mallick: The volume growth has been strong where we clocked one million tonne this quarter. Going forward, we may see such kind of volume, but the Q2 may not see such robust volume growth. Q3 onwards, we are hopeful that edible oil again will have a bigger volume share. Second is that our food business has grown and double digit and a strong double digit we have been doing and there I think this volume will grow further. So, food volumes are likely to grow further. Edible oil might stable at around 8% to 10% instead of 12%. And industry essentials would see same volume growth or little better going forward.

₹2.64 trillion through CDs in the June quarter alone, accounting for about 30% of new deposits. This dependence on CDs, while growing, remains below levels seen in previous credit booms. For instance, between November 2010 and March 2011, facing a similar credit-deposit gap, banks raised ₹5 trillion through CDs, which was double the amount of deposits added during that period.

COSCO Shipping Corporation has signed a preliminary agreement with Australia's Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.

Based on the consensus expectations, Jitendra Sriram, Senior Fund Manager, Baroda BNP Paribas Mutual Fund, expects the market may be marginally disappointed with the earnings in the current quarter. «While the consensus earnings for FY2024-25 are in the low teens, we expect the growth to be more in 2H,» he said, explaining that elections and heat waves slowed down economic activities during the quarter. Edited excerpts: With Sensex above 81,000, how tough is it to find new stocks to invest in? Many stocks are trading well above their historical average valuation levels. Index hitting a new high is a derivative of high economic activity and function of earnings growth. Despite equity trading at a new high, valuations are in line with long term averages. Thus, market returns are tracking earnings momentum.

small caps and 20% of midcaps are trading above reasonable valuation levels,” says Pradeep Gupta, Co-founder & Vice-chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Investors should avoid these overvalued pockets, at least from a short- to medium-term perspective,” Edited excerpts: