Sustainability Financial News

agri startups empower the nation's backbone—farmers, affectionately nicknamed Annadatas—by providing solutions tailored to address their issues comprehensively.Over the past nine years, the startups in agriculture and allied sectors have surged from 50 to 7,000 due to a favourable business climate and robust government support, according to a report titled 'Transformation of India's Agriculture' released by the Federation of All India Farmer Associations (FAIFA). In addition, the budget allocation for agriculture also saw a jump from ₹30,000 crore to ₹1.3 lakh crore.

post-pandemic period, triggered by revenge shopping. Zara, the world's biggest clothing retailer, and Starbucks, the largest coffee retailer globally, saw their slowest ever sales growth in India during FY24, excluding the pandemic year. Vedant Fashions, which owns men's ethnicwear brand Manyavar, said this is the first time it has seen a weak wedding season for five quarters in a row, though a lower base will make for better sales numbers upon recovery.

United Spirits Ltd on Friday reported a two-fold increase in consolidated net profit to Rs 241 crore for the March quarter. The company had posted a net profit of Rs 102 crore in the year-ago period, United Spirits Ltd (USL) said in a regulatory filing. Its revenue from operations was up 12.41 per cent to Rs 6,511 crore during the quarter under review from Rs 5,792 crore a year earlier.

Ashok Leyland Friday reported a 19.8% increase in standalone net profit at Rs 900.41 crore for the fourth quarter ended March 31, 2024. The company had posted a net profit of Rs 751.41 crore in the same period of the previous fiscal. Revenues from operations in the quarter under review stood at Rs 11,266.69 crore as compared to Rs 11,625.67 crore in the year-ago period.

In today’s dynamic economic landscape, the role of financial leadership in infrastructure development has become more critical than ever. Infrastructure projects, ranging from civil construction, transportation and energy to healthcare and education, form the backbone of a nation’s growth and development.

Real estate developer Navanaami Projects Private Ltd has announced the launch of its luxurious residential project, Megaleio, in Hyderabad.

In an exclusive interview, Gaurav Kansal, Director, KBP Group, shares his views on the key factors driving the demand for affordable housing projects in the current market scenario, and talks about the concept of Tricity Homes, Smart Homes, and Willow Homes. Excerpts:

The Reserve Bank of India’s latest data on ‘Sectoral Deployment of Bank Credit’ has unveiled a remarkable trend in the housing sector. With a substantial surge in outstanding loans over the past two financial years, the data underscores the burgeoning growth of India’s residential real estate market and the escalating demand for homes nationwide.

As India’s economy grows, the population of ultra-high-net-worth individuals (UHNWIs) — those with a net worth exceeding $30 million — is projected to surge by 58.4%, from 12,069 in 2022 to 19,119 by 2027. UHNWIs, who often have assets in multiple countries, face intricate financial and family situations. Due to complex asset portfolios and the need for strategic legacy planning, estate planning is becoming particularly crucial for UHNWIs for the following reasons:

Singapore Airlines flight hit by deadly turbulence this week said on Friday they had only seconds to react before the plane started to plunge. One passenger died and more than 100 were injured when the Boeing 777-300ER fell 1,800 metres (6,000 feet) in just a few minutes during the final hours of its journey from London to Singapore on Tuesday.

Voltamp Transformers, a leading transformer manufacturing company in India, has emerged as one of the biggest wealth creators. The company’s shares have consistently maintained an upward trajectory, rising from ₹2,518 apiece in February 2023 to the current market price of ₹11,970, delivering a staggering return of nearly 375%.Notably, out of the last 16 months (including May), the stock finished 14 in the green, with January 2024 registering the highest monthly gain of 23.4%, closely followed by December 2023 with a rally of 18.7%.

Challenges such as water scarcity, soil fertility, pests and diseases, limited inputs, unfavourable policies, limited access or lack of markets as well as climate issues, plague the small and marginal landholdings at a higher intensity than others. In addition, many of these smaller units of land are commonly observed as unviable for agriculture and, therefore, unable to provide a sustainable livelihood for their owners. Right from sowing, farm and labor management, and financial support to farm management, market consolidation, storage, and protection against losses or crisis, small and marginal farm holdings suffer innumerable issues while facing high transaction costs, lack of collective action, and coordination failure in production and marketing. Need of the Hour It is clear that with the sheer size of small and marginal landholdings in our country, the available options are not sufficient to address issues that haunt them. Innovative ideas, disruption in technology and practices, a user-centric approach to create sustainable solutions, and a more focused perspective towards these challenges are required at a larger scale.

India, a country full of vitality and aspirations, is experiencing a quiet but potent revolution on its rooftops. The development of solar technology is not merely changing the country’s skyline, but also reshaping its energy consumption patterns fundamentally. Solar power is starting to emerge as a sign of sustainable development and energy independence, even in the most isolated villages and busy metropolises. Rooftop Revolution A quiet transformation is taking place on the rooftops of India's vast urban areas. An increasing number of individuals, businesses, and industries are opting for solar energy to meet their energy requirements in an eco-friendly manner. Rooftop solar systems decrease the dependency on fossil fuels by managing energy production with sunlight resulting in reduced carbon emissions. Rooftop solar has gained immense popularity among residential and commercial users. As per the Ministry of New and Renewable Energy, India has achieved 5th rank globally in solar power deployment. As of 30-06-2023, solar projects of a capacity of 70.10 GW have been commissioned in the country. This capacity of 70.10 GW includes 57.22 GW from ground-mounted solar projects, 10.37 GW from rooftop solar projects, and 2.51 GW from off-grid solar projects. Government incentives like the Solar Rooftop Subsidy Scheme, laws on net energy metering*, and endless endeavours to lower the cost of solar panels with continuous technological advancements made rooftop solar more cost-effective than in the past.

Also Read: ITC Q4 results review: Should you buy, sell or hold the FMCG major? Here's what 5 top brokerages sayThe government aims to boost India's defence exports to US$5 billion by 2024–25, underscoring the sector's increasing significance and potential.Mazagon Dock Shipbuilders, Garden Reach Shipbuilders & Engineers, and Cochin Shipyard have all experienced significant jumps in their share prices this week, with returns reaching as high as nearly 34%.Cochin Shipyard shares have emerged as top performers among its peers, surging by 34% in the last four sessions alone. This momentum has propelled the shares to a remarkable 722% gain over the past year and an impressive 1058% increase in just two years.Earlier this month, the company bagged an order from a European client, for the design and construction of a hybrid service operation vessel (SOV) with an option for two more such vessels.

Non-mortgage security receipts formed 90% of the fresh issuances in 2023, and have seen a rise in volumes backed by retail non mortgage bad loans, research by India Ratings showed. Asset Restructuring Companies (ARCs) will have to scale up their recovery infrastructure to be able to deal with the change in dynamics. The ratings agency expects a sustained flow of unsecured asset classes being assigned to ARCs, particularly within segments such as personal and credit card loans. Recoveries of bad loans that are backed by large corporates and small and medium enterprises are still stretched despite improvements in legal resolutions.

HUL: Is another weak quarter a cause of panic for investors?"In view of the above, the Board of Directors based on the recommendation of the Nomination and Remuneration Committee approved and adopted the revised Board Skill Matrix of the Company on 26th February, 2024," the report added.HUL will become among the first of the large companies which officially adopts an additional set of skill sets that its Board must have. Wile earlier some of the prominent skill sets were defined as a must have for the Board, this is the first time HUL has measured the extent of these skill sets that the directors have.According to the skillset statistics shared in the report, HUL found out that while 92% of its Board had leadership experience, barely 33% were aware about the details of cybersecurity, data governance and information technology.

International Monetary Fund (IMF) mission and Pakistan have made significant progress towards reaching a staff-level agreement for an extended fund facility, the global lender said on Friday. The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default.

Canadians and Americans along the Atlantic coast are being urged to prepare now as forecasters are predicting an above-normal hurricane season.

Nvidia's plan to split its stock after the stunning rise in the chipmaker's share price could lure more interest from retail investors while potentially paving the way for the company's inclusion in the Dow Jones Industrial Average. Nvidia shares were soaring 10% on Thursday afternoon after the company announced a 10-for-one stock split as part of a blockbuster quarterly report included its revenue and forecast coming in above analyst estimates.

₹2.69 per kWh, which is expected to be completed within 24 months of signing the 25-year power purchase agreement (PPA).With this, Avaada Energy has reached a portfolio of 15 GWp in India, it said in a statement.Vineet Mittal, chairman of Avaada Group, said, “We are incredibly proud to have won the single largest bid of 1050 MWp from NTPC. This achievement not only highlights our capability to execute large-scale renewable energy projects but also reinforces our commitment to supporting India’s transition to a sustainable energy future.

Canadian households have gotten good news on the cost-of-living front so far in 2024, with monthly inflation figures showing prices are rising below three per cent annually for the first four months of the year.