Sustainability Financial News

Jefferies gave a buy recommendation on Hindustan Aeronautics (HAL) with a target price of Rs 5,725, an upside potential of 12% from the previous day's closing price of Rs 5,103 per share. Jefferies anticipates HAL to sustain double-digit growth over the next 3-5 years, bolstered by positive sentiments surrounding defence indigenisation and exports.

Adani Ports and Special Economic Zone (ADSEZ) to ₹1,650 per share, up from the previous target of ₹1,550. The upgrade is based on the company’s continued outperformance in FYTD24.

Grasim Industries, Shriram Finance, Hindustan Unilever, Eicher Motors, and Britannia Industries were the top gainers, while Tech Mahindra, JSW Steel, HCLTech, NTPC, and Wipro, were the top drags. Sensex Today Live : Only eight stocks out of the 30 on the BSE Sensex were trading in the green.

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

Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it’s been much of this year

Union Budget 2024 likely to be tabled in Parliament by third week of JulyAdditionally, a meeting of the Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for June 22 in the national capital. This will be the Council's first meeting since their last gathering in October 2023.“We expect the new Finance Minister to focus on key areas that will help SME to strengthen enterprise security - Protect MSMEs from external risks such as cybersecurity threats, economic shocks, and supply chain disruptions.

inflation data raised hopes for two rate cuts in 2024, even as the Federal Reserve's projections called for just one cut this year. Spot gold was down 0.5% at $2,310.89 per ounce, as of 1510 GMT. Prices fell as low as $2303.84 before the data came out. U.S. gold futures were down 1.2% to $2,326.90.

India will remain the region's fastest-growing economy, sustaining last year’s domestically driven momentum and its policy momentum is expected to continue as the new government takes charge with a reduced majority, according to ratings firm Moody’s. “We anticipate policy continuity after the general election, and a continued focus on infrastructure development and encouragement of private sector investment” the ratings firm said in a report. In the first half of calendar year 2024, Indonesia, Philippines and India led the way and should continue to outperform pre-COVID growth numbers on the back of rising exports, local demand and government spending lift.

₹50 lakh each for seven startups in the technical textiles sector under the National Technical Textiles Mission (NTTM).This initiative aims to promote innovation and sustainability while fostering transformative developments in the industry, the Ministry of Textiles said in a statement.The ministry has set a target to support 150 startups to promote innovations in technical textiles. These seven are in addition to one that was approved earlier.Mint on 4 June was the first to report that the textiles ministry planned to give grants of up to ₹50 lakh each to 150 startups that are engaged in making technical textiles and that the ministry will not seek any share of the profits from the business generated.Also read: Centre to fund 150 startups with ₹50 lakh each for developing advanced technical textilesAdditionally, the textiles ministry has relaxed the royalty cap on this scheme.

Today’s lending methods make it challenging for financial institutions to strike a balance between profit and social responsibility. On the one hand, lending for profit is vital for businesses, whereas lending for social good benefits communities.

Jayant Chaudhary, minister of skills development and entrepreneurship (independent charge), on Thursday, called for increased collaboration with the industry partners to enhance the scope and effectiveness of apprenticeship and vocational training programmes in India besides . During a comprehensive review of the skilling schemes with the top ministry officials, Chuadhary reiterated on providing quality skill training to the youth, across the country, with a special focus on marginalized communities, backward areas, and new-age market relevant skills, the ministry of skills development and entrepreneurship (MSDE) said in a statement. Elaborating on the necessity of a unified effort to ensure the successful implementation and expansion of skill development initiatives across the nation, Chaudhary said that focus should be on close collaboration and convergence with other ministries and states to bring scale and speed to the skill ecosystem.

₹2,650, sees an upside potential of 20 per cent.“Accordingly, we expect a 16% earnings CAGR for MANKIND over FY24-27. Considering its strong brand visibility, sustainable earning growth and superior return ratios, we value MANKIND at 40x12M forward earnings (30% premium to the Healthcare sector PE) to arrive at a TP of INR 2,650," the firm said in its note.Also read: Ambuja Cements' acquisition of Penna Cement for ₹10,422 crore raises Adani's cement market share by 8%Considering the company's broadened product range across key therapies, a growing focus on chronic treatments, expansion of its brand portfolio, enhanced productivity of medical representatives, and increased presence in metro and Tier-I cities, the domestic brokerage has applied a 40x multiple on projected earnings for the next 12 months.

Modi 3.0: As Nirmala Sitharaman back on FM's chair, share market pundits bet on…Experts say it is almost evident that the ultra-low rate regime of the pre-pandemic era may not return. What should be the investment strategy during an elevated rate regime?Mint consulted experts for their insights on investment strategies during an elevated rate regime. Here’s what they shared:Hajra said in a high-interest-rate environment, a greater allocation to fixed income over equity assets is advisable.

OTTAWA — The chief executives ofCanada’s five biggest banks are set to testify before a parliamentary committee later today about the impacts of the financial sector on climate and the environment.

GoKwik network of D2C brands. The partnered integration has been rolled out to over 90 brands in the GoKwik network, including Snitch, Adilqadri, Bacca Bucci, Neemans, and Sanfe among others. This will unlock a wider universe of discounts and loyalty points for brands to offer their shoppers, while contributing to the brand's revenue growth.

₹61.53 crore. In the fourth quarter of 2023-2024, the company's revenue declined 10.49% from the same time prior year, to ₹605.22 crore. "We achieved a remarkable 52% EBITDA growth yoy expanding the margin to 12% in FY24; this has been the first year post the de-merger we were able to record a double-digit EBITDA margin and aim to sustain it in the coming years as well.

Buy or sell stocks for today: Despite mixed trends from the global markets, the Indian stock market snapped two days fall and ended higher on Wednesday. The Nifty 50 index gained 58 points and closed at 23,322, while the BSE Sensex scaled 149 points and finished at 76,606.

2023 was a stupendous year for Indian realty as the sector recorded a hefty 2.5 billion dollars worth of investments. And it’s only getting better. By 2030, the Indian real estate sector is slated to register the coveted ‘one trillion dollar’ mark. Having emerged as the proverbial juggernaut this year, the country’s real estate industry continues to gallop at a tremendous pace. It has fast cemented its position as the largest and most lucrative sector for investors.

India’s mutual fund industry has witnessed remarkable growth, with assets nearing the 60-trillion rupee mark in May. The Association of Mutual Funds in India (AMFI) reported that the total assets under management (AUM) reached 58.6 trillion rupees ($701.90 billion), showcasing the fastest rise on record. This surge, adding 10 trillion rupees in less than a year, underscores the growing investor confidence and the resilience of the Indian financial market.

PMAY) is expected to boost the supply of much-needed affordable housing and move closer to the vision of housing for all.

In its general election manifesto published today (12 June), the party also promised to change the Bank of England's mandate to make the sustainability transition a central objective, alongside price stability. The Greens, led by Carla Denyer and Adrian Ramsay, said the Bank will be required to mainstream the climate crisis into its strategic thinking and produce a carbon-neutrality roadmap for the financial system, including forward planning scenarios consistent with a 1.5°C warming limit. Other proposals include requiring the BoE to adopt a policy of credit guidance to direct lendin...