Sustainability Financial News

financial year 2024-2025, all eyes are on the Reserve Bank of India and its actions that will shape the country's economic landscape. With the first monetary policy committee meeting for FY25 being on the hawkish side, the market is eager to gauge how and when will the central bank's stance change amidst the inflationary pressure sustaining.

Diamonds (LGDs) exports are expected to witness a revival in FY25, with exports expected to grow by 7-9% to reach a value of~US$1500-1530 million, according to CareEdge Advisory. LGD exports have been declining in recent time, and have seen around 16.5% decline y-o-y for FY24. While the sales volume of LGDs have been growing, the declining prices have impacted the exports. Nevertheless, the depreciating rupee is likely to act as a cushion for the industry, believes CareEdge Advisory. Going forward the demand for LGD exports are expected to revive in FY25, as demand for naturally mined diamonds may remain sluggish. This is attributed to its price point, environmental sustainability, and intensified competition from India against other leading LGD-producing nations.

₹855.00 apiece on the BSE. The automobile marketplace CarTrade Tech posted a net profit of ₹22.51 crore in the quarter ended March 2024, rising 50.5% from ₹14.95 crore in the same quarter a year ago. The company’s revenue from operations in Q4FY24 grew 51.4% to ₹145.27 crore from ₹95.86 crore, while EBITDA margin expanded to 18.9% from 12.1%, YoY.

Uttarakhand, leading to the loss of lives and disruption of essential services. A 28-year-old woman became the latest victim, marking the fourth casualty in the past three days. This unfortunate incident coincides with the suspension of the Adi Kailash helicopter darshan service for the second consecutive day. Additionally, flight arrivals at the Naini-Saini airport in Pithoragarh have been halted due to poor visibility caused by the fire-induced haze. The situation turned dire for pilgrims at the Dunagiri temple in the Almora district. A fire broke out, forcing pilgrims to flee as flames engulfed the passage to the shrine, which is adorned with bells. Videos captured the chaotic scene as pilgrims scrambled for safety, with flames seemingly in pursuit. Forest officials attributed the rapid spread of the fire to strong winds, which transformed it into a «crown fire.» Fortunately, prompt action by priests and the forest department ensured the safe evacuation of pilgrims, preventing any casualties. Locals have expressed grave concerns over the fires, noting that ash dust covers everything, making breathing difficult. Reports of rockfalls and landslides along the road from Haldwani have also surfaced, further exacerbating the situation. Residents of Mukteshwar described the scenes as apocalyptic, with hills ablaze at night and thick smoke obscuring visibility during the day.

Mahindra Susten, the renewable energy arm of the Mahindra Group, plans to invest ₹21,000 crore over the next five years to develop a renewable energy asset portfolio of nearly 5.5 GW. The company, with its 39% partner Ontario Teachers' Pension Plan, has committed equity to build peak capacity of that order in the next four to five years. «We have made a business plan of this capacity and got it approved with the shareholders,» MD Deepak Thakur told ET. «We are also looking at the entire green energy canvas in terms of building our portfolio of renewable energy assets which will include storage projects and round-the-clock power projects.» This January, Mahindra Group and Ontario Teachers co-sponsored an infrastructure investment trust (InvIT) holding assets in the renewable energy space.

Cryptocurrencies BLP, PEPE, and BONK are catching investors’ attention as they show signs of recovery ahead of others. Observers are closely watching these tokens to see if this uptick signals a sustainable upturn or is merely a fleeting surge. With the bull run of 2024 already making waves, the significance of these movements is under scrutiny. Readers are eager to understand the potential for a lasting rally in these alternative coins.

Indian Overseas Bank has made concerted efforts for a reduction in Non-Performing Accounts and has adopted a multi-pronged approach to ensure a maximum recovery from such accounts. The measures taken by the city-headquartered bank have yielded a decline in Gross NPA to 3.90 per cent as of December 31, 2023, from 11.69 per cent recorded as of March 31, 2021, the bank said in a statement here. To sustain and bolster this momentum, the bank has published a sale notification that pertains to the sale of 92 NPA loans, aggregating to an outstanding due of Rs 13,471.68 crore. «Indian Overseas Bank in its concerted efforts towards reduction of NPA has embraced a multi-pronged approach to ensure maximum recovery in NPA accounts. IOB has diligently implemented timely recovery measures including Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) actions, Compromise Settlement Schemes, and sale to Asset Reconstruction Companies,» the statement said.

Treasury Secretary Janet Yellen argues that a fractured democracy can have destructive effects on the economy

₹2,500 crore in fiscal year 2025 to expand its cargo handling capacity, said Arun Maheshwari, joint MD and CEO of the company told Mint. By 2027, the company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore, said Maheshwari. “With more approvals underway, once these are finalized, our investments for the current fiscal year will stand at more than ₹2,500 crore," he said.

municipal solid waste into charcoal, a project for which he has set up a plant in Gangoh, a nondescript town in Uttar Pradesh’s Saharanpur district. “Cogo (Eco-Tech Solutions) is a Latin word, meaning bringing together,” says Kurishingal, 59, with a smile on his face as he points towards the logo on the new machines. “The USP of this Make-in-India technology is that it requires no segregation of waste at all. All types of waste can be put into a single machine.”

INDIA alliance as they have realised the glitz and glamour of the BJP is a facade, AICC general secretary Priyanka Gandhi said on Saturday. Speaking in a rally in Davangere in Karnataka a day before campaigning ends in the state, the leader hit out at the Narendra Modi-led government, saying it was busy in corruption by making schemes. “He [Prime Minister Narendra Modi] talks very well about sabka saath, sabka vikas (everyone’s support, everyone’s progress), but does nothing for the poor. Meanwhile, the people of the country are suffering from unemployment, inflation and economic crisis,” she said. Accusing the PM of crony capitalism, she said he spoke of welfare but was never seen with the poor in villages. “All his rallies are with his rich businessmen friends. No wonder our country’s railways, aviation, ports and shipping are now in the hands of one man,” she added.

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Tata Group's Engineering, Procurement, and Construction (EPC) company, Tata Projects, has said that it has turned profitable. Speaking over the company result announcement, Vinayak Pai, MD & CEO at Tata Projects said the company's strategic realignment, organisational transformation and improved focus on operational efficiencies have started yielding results. «I feel proud to announce that we have returned to profitability, and we are moving forward on our path to deliver predictable and sustainable projects through innovation and technology,» he said. Tata Projects reported a profit after tax of Rs 120.57 crore for the quarter ended March 31. The company had posted a loss of Rs 366.42 crore in the year-ago period. The company's revenue from operations increased to Rs 5,412.80 crore during the March quarter, over Rs 5,015.21 crore in the year-ago period, the statement said.

private investment that offers a plethora of financial products and services to the customers across all the categories. Some Indian fintech companies like Paytm, Upstox, Groww, Phonepe and others serve individual domestic customers, while others like Intellect Design Arena create advanced technology solutions for banking and insurance clients globally.

Metal stocks have been on a roll lately. The Nifty Metal index has been up significantly, with gains of over 50%, in the last one year. ETMarkets spoke to Sonam Srivastava, Founder & CEO of Wright Research, to understand the factors behind the rally and more. Edited excerpts:

Stock market outlook: After climbing to a new peak in the week gone by, frontline indices of the Indian stock market failed to sustain at higher levels, and they witnessed heavy correction immediately after touching the new peaks. This might have put doubts into the minds of stock investors about whether the Indian stock market has topped out and whether bears are ready to take centre stage in the subsequent few sessions. According to stock market experts, in the post-COVID period, Indian markets are witnessing three bull and bear markets.

Max Estates aims to generate Rs 4,000 crore in pre-sales in fiscal 2025, more than double compared with Rs 1,800 crore in FY24 ended March 31, as the real estate arm of the Max Group scales up its residential portfolio, its vice chairman and managing director said. Max Estates has entered into a joint development agreement for an 18.23-acre plot in Gurgaon with a potential to generate revenue of Rs 9,000 crore, Sahil Vachani told ET. This land parcel is contiguous to its existing 11.80 acres on the Dwarka Expressway in Sector 36A, Gurugram, on which Max Estates has a joint development agreement.

Bosch (Bosch family). In Sweden, the Wallenbergs control significant shareholding in its mega corporations like ABB, Volvo, Erickson, Electrolux and others, with their management left in professional hands. It is similar with other European businesses like H&M (Persson family).

women's leadership within India's Panchayati Raj system, saying, «India prides itself on a unique system of rural governance known as the Panchayati Raj--an emblem of decentralised power at the grassroots level.» Speaking at India's #CPD57 side event, «Localising the SDGs: Women in Local Governance in India Leads the Way,» Kamboj emphasised the transformative impact of women's empowerment at the grassroots level. «The Panchayati Raj is a sterling example of direct democracy that facilitates active participation from all residents of a Panchayat through the Gram Sabha,» Kamboj highlighted, underscoring the system's decentralised power structure. This unique aspect sets it apart from conventional municipal governance models found elsewhere in the world, making it a model for fostering inclusive decision-making processes.

Type 2 diabetes is on the rise across the world led by lifestyle changes, researchers have recently noted that having a fruit regularly leads to decreased chances of diabetes in women. Regular consumption of Avocado leads to lesser chances of this metabolic disorder. This was the conclusion based on studies conducted on some Mexican women, as per a report on Fox. Upon analysis of the data from the Mexican National Survey of Health and Nutrition for the years 2012, 2016 and 2018, the findings were unique. 25,640 participants were surveyed of whom 59% were women and 60% of them had abdominal fat which is often attributed as a factor leading to insulin resistance and on set of diabetes.

Human mind is an organ, a system and a phenomenon in itself, and the most evolved 'product' of the evolution. The mind has deeply ingrained a quest to know, to understand, to reflect, to discover, to invent and to unfold all the secrets, all the riddles, and all known and unknown in the cosmos. With its outreach tentacles, the mind makes its reach to the whole cosmos and tends to explore and unfold everything, every process and every phenomenon. Eco-philosopher Henryk Skolimowski highlights the interplay between human consciousness and the ecological web that sustains us along with the biosphere. His discourses on The Theatre of the Mind invite us into a profound exploration of our interconnectedness with the natural world, urging us to reimagine our role as true custodians of the Earth. The theatre of the mind is a metaphorical stage upon which the drama of human consciousness unfolds. It challenges us to confront the limitations of our anthropocentric world view and embrace a more expansive understanding of reality. Skolimowski's eco-philosophy attempts to 'cosmolise' human mind. A 'cosmolised' mind understands the values of the living planet.