Sustainability Financial News

Budget expectations: Finance Minister Nirmala SItharaman will present the full Union budget after nearly a week. She presented an interim budget in February. Equity investors are keenly watching the budget for its impact on different sectors and stocks as well as for larger policy goals that impact the market in the long term. While the Budget is likely to set the priorities for the third five-year term of the Narendra Modi government, it is also likely to present a roadmap for the period up to 2047, the hundredth anniversary of India's independence, In her interim budget speech, she said, «In the full budget in July, our Government will present a detailed roadmap for our pursuit of ‘Viksit Bharat’.» The budget is expected to lay emphasis on infrastructure, manufacturing, fiscal discipline, creation of jobs and social spending as well as economic reforms. Below are the sectors which are expected to be the main themes in the budget.

«The team has worked pretty hard on ensuring that Q1 itself will give good numbers because post IPO the investment community is very enthusiastic and curious about our performance, so we are also equally responsible and sensible to responding to them with good numbers and qualitative governance,» says Pradip Kumar Das, IREDA. Let us talk about the numbers then first. Strong quarter so NII has surely seen a very strong growth. Your NIMs also are seeing a significant improvement, also up on a sequential basis. Would you say that we can expect further upward growth now even going forward in terms both NII and NIMs going forward? Pradip Kumar Das: Definitely, our first objective is to sustain what growth we have achieved and next would be to further improvise on that. Two things we focus always. One is the result. We focus on fundamentals and governance. If you see almost since last three to four years, our corporate governance standards quality has been improving gradually and consistently. And today, it has become a benchmark.

Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said it has contributed Rs 13,195 crore to the exchequer in the last financial year, representing about 46 per cent of its total revenues. In FY 2023-24, Hindustan Zinc's total contribution to the exchequer stood at Rs 13,195 crores, the Vedanta group firm said in a regulatory filing. With this, HZL's cumulative contribution to the exchequer over the past five years stood at Rs 77,803 crore. «As our businesses grow, so will these numbers. At Hindustan Zinc, we are committed to continuing to do business with a purpose in a manner that is sustainable, transparent and creates value for all our stakeholders,» Hindustan Zinc Chairperson Priya Agarwal Hebbar said.

Edited excerpts: The June quarter (Q1 FY25) earnings are expected to be a mixed bag. Based on operational updates, it is evident that banks will likely witness a weak quarter due to soft loan and deposit growth attributed to seasonality. Net interest margins (NIMs) are also expected to contract.

Tata Consultancy Services (TCS) could rally towards a new 52-week high of Rs 4,400. «On the weekly chart, the stock had found support at the rising trend before the recent rally. On the daily chart, the stock has given a consolidation breakout. Suggesting a rise in optimism around the stock. Over the short term, the stock might move towards Rs 4,400. On the lower end, support is placed at Rs 4,100,» Rupak De, Senior Technical Analyst, LKP Securities, said. Edited excerpts from a chat on Budget expectations and trading ideas for the week:

Tata Consultancy Services (TCS) beat quarterly revenue estimates. The Sensex rose by 622 points (0.78%) to 80,519, while the Nifty increased by 186 points (0.77%) to 24,502. Meanwhile, the total market capitalization of BSE-listed companies grew by Rs 1.18 lakh crore to Rs 452.36 lakh crore, although the market breadth favored the bears.

Trump Shooting Attempt: The recent shooting incident at a rally in Pennsylvania involving former US President Donald Trump has sparked global attention. According to his communications director, Steven Cheung, Trump sustained a gunshot injury to his right ear but is reportedly in stable condition at a local medical facility.

NITI Aayog is likely to hold its ninth governing council meeting on July 27 to deliberate on the government’s Vision 2047 for a Viksit Bharat. The meeting, to be chaired by Prime Minister Narendra Modi, is expected to be attended by chief ministers of all states and lieutenant governors of union territories besides the top minister of the Modi cabinet. Governing council is the apex body of NITI Aayog. The Aayog has been pursuing the policy of cooperative federalism and has regularly called upon all states to deliberate on important matters pertaining to the economic growth of the country as it feels India’s growth is closely linked with that of states. Prior to this, finance minister Nirmala Sitharaman is expected to lay out the blueprint for a Viksit Bharat while presenting the full Union Budget on July 23.

The volatility index, India VIX has failed to sustain above the 200-day EMA level and thereafter witnessed minor correction on Wednesday.

Prime Minister Narendra Modi has initiated a monumental Rs 29,000 crore investment drive in Mumbai, encompassing crucial projects in the road, railways, and ports sectors. This initiative is part of a broader vision to elevate Maharashtra as a global financial powerhouse, with Mumbai poised to become a leading fintech capital. Prime Minister Narendra Modi said that as per a report by the RBI, eight crore new jobs were made available in the country in the last three to four years. Modi was speaking at an event in Mumbai's Goregaon suburb after launching and laying the foundation stone for Rs 29,000 crore projects in road, railway and port sectors in the city. «RBI recently published a detailed report on employment. As per the report, around eight crore new jobs were created in the last three-four years. This figure has silenced those spreading fake narrative on jobs,» Modi said.

The spectacular success of large language models such as ChatGPT has helped fuel this growth in energy demand.

Bergen in Norway. Strictly speaking, the gleaming Northern Lights terminal is just the gateway to the actual dump, where carbon dioxide will be offloaded from ships and then pumped down into an aquifer 1.6 miles below the seabed, about 60 miles offshore, keeping it locked away. Getting to net zero mostly means stopping doing things that emit carbon. A supplement to this is capturing those emissions and storing them, like refuse in a landfill. In theory, carbon capture and storage, or CCS, offers the ultimate climate hedge for fossil fuel producers, albeit at a cost of perhaps $10 trillion through 2050.More likely, it will play a vital role in mopping up the most stubborn emissions, but will be outcompeted by faster-moving alternatives for energy transition. Moreover, the incentives required to make it work would present, in themselves, a profound risk to fossil fuel producers. Of the emissions that need to be eliminated to achieve net zero in 2050, Bloomberg NEF projects CCS accounting for 16% of them. The amount being captured annually by 2050, more than 8 gigatons, would be bigger than the total energy-related emissions of the Americas today.

 KPMG chief economist Diane Swonk reacts to the Federal Reserve's decision to leave interest rates unchanged on 'The Claman Countdown.'

The disability tax credit is a non-refundable credit that a taxpayer — or their family — can claim annually on their return. It reduces the tax payable to offset the increased costs resulting from physical or mental impairment. The disability tax credit is also a gateway to other financial incentives, and many people who qualify do not realize it.

India has a glorious past. At one point in time it contributed more than 25% to the world’s GDP and controlled about 28% of global trade and commerce. Being an economic power for several centuries, India played a leadership role in all fields- whether it is art, culture, music, dance, food, festivals, architecture or handicrafts.

Bitcoin miners are facing a critical phase known as “capitulation” as their profits diminish amidst a sell-off in the Bitcoin market.

Union Budget 2024: Share of agriculture in India’s economy has declined over a period of time to less than 15% mainly due to high growth rate of the industry and services sectors. However, agriculture sector’s importance in India’s economy goes well beyond this mainly because more than 70% of India’s population depends on rural incomes and about 70% of poor people are found in rural areas.

Ukraine received a setback when Russian forces rained down its famous Iskander M ballistic missiles. These missiles destroyed two S-400 air defense systems of Ukraine. This happened in the Poltava region of Ukraine. The Russian Defense Ministry published footages of this incident. Russia is increasingly using these missiles and it is believed to be the fourth strike on Ukraine in a span of six days. It has also been reported that Ukraine has adopted a well-known war tactic of using decoys to engage with the Russians. The latter would be tricked into striking dummy models without sustaining any major damages.

Singapore investor Temasek expects India's growth to remain firm over the next two years, driven by infrastructure-led capital expenditure, and a recovery in private consumption.Temasek on Tuesday reported an SGD 7 billion rise in its Net Portfolio Value (NPV) to SGD 389 billion for the financial year ended March 31, 2024, mainly driven by gains to the US and India investments. India has continued to see strong economic momentum alongside improving macro and political stability, the company said in a statement.

China is the world’s largest textile producer and consumer, throwing away 26 million tons of clothes each year, mostly made of unrecyclable synthetics

Shipping, and Waterways (MoPSW) has approved a research proposal on 'Valorization of Dredged Sediments'. According to a statement by the ministry on Saturday, the project has been sanctioned at an estimated cost of Rs 46,47,380. The 'Valorization of dredged sediments' is the reuse of sediments as raw material for civil engineering and other purposes. It can be a sustainable solution to reduce the strain on natural resources and eliminate waste.