Sustainability Financial News

IndusInd Bank shares fell 2% to Rs 1,469 in Friday's trade on BSE after the firm reported its March quarter results. Private sector lender reported a 15% year-on-year (YoY) jump in its March quarter net profit at Rs 2,347 crore, which was higher than the Street estimate of Rs 2,041 crore. Its net interest income or NII rose 13.9% to Rs 5,376 crore during the quarter.

The company’s EBIT margin stood at 17.1% for the quarter ended March and the board has recommended a final dividend of Rs 33 per share.

Zomato, CLSA maintained an underperform rating on ACC, Goldman Sachs recommended a neutral rating on Nestle India and JPMorgan has an underweight rating on Tech Mahindra.

As registered investment advisors face an increasingly complex landscape marked by rapid technological advancements, changing client demographics, market uncertainty, and emerging investment opportunities, the path to sustainable growth and competitive differentiation has become more challenging than ever.

fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified. Client withdrawals from US funds targeting environmental, social and governance goals reached $8.8 billion in the first three months of 2024, according to fresh data compiled by Morningstar.. That stood in stark contrast to the roughly $11 billion of inflows into ESG funds in Europe, where sustainable investing regulations are far more entrenched.

economic performance" continues to be backed by resilient growth, robust economic activity indicators, price stability and steady external sector performance, the finance ministry said Thursday. However, geopolitical tensions such as those roiling West Asia, remain a concern although risk perceptions over them have softened, offering a potential upside for growth, the ministry said in its monthly economic report for March. The global economic landscape is seeing a gradual resurgence, with fading fears of recession and rebounding growth in major economies, it said. But regional disparities in terms of the pace of growth still exist. India continues to exhibit a robust economic performance, despite global uncertainties, due to factors such as strong domestic demand, robust investment and sustained manufacturing momentum, the ministry said.

Engineering service provider, Cyient’s net profit grew to Rs 196 crore in the final quarter of FY24, up by 22% sequentially. On a year-on-year basis, the profit for the Hyderabad-based firm grew by 20%. Riding on deal wins in the fourth quarter from Airbus and Deutsche Aircraft, the ER&D (engineering and research and development) firm saw its Q4 revenue growing by 2.1% to Rs 1,860 crore. On a YoY basis, the Q4 revenue grew by 6.2%.

Cetera is sharpening its focus on growth and succession as it appoints a seasoned M&A veteran to its leadership.

best electric scooters in India to explore in 2024: Ola Electric's flagship offering is the Ola S1 Pro model. With an ex-showroom price starting at Rs. 1,29,999, it offers a certified range of 195 km, powered by an 11 kW motor capable of reaching a top speed of 120 km/h.

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Lohia Global, a business group with 44 years of global presence in sectors like exports, manufacturing, and energy, has announced its venture into the Indian real estate market with Lohia Worldspace.

US fund managers suffered their worst-ever quarter for ESG-focused products as the pace of client redemptions intensified.

Glenmark Life Sciences on Thursday said its net profit declined 33 per cent to Rs 98 crore for the March quarter ended March 31, 2024. The company had posted a net profit of Rs 146 crore in the year-ago period. Revenue from operations declined to Rs 536 crore for the period under review from Rs 621 crore a year ago, the company said in a regulatory filing.

fiscal year. Its net operating income stood at Rs 680.2 crore in the year-ago period. According to a regulatory filing, Embassy REIT has posted an 8 per cent annual increase in its net operating income to Rs 2,981.9 crore during the last fiscal year.

The £151.3m fund is run by a four-strong team, which senior HL investment analyst Hal Cook said each have «different areas of investment specialism», but all «look for investments that will contribute to the income paid by the fund», versus relying on just one asset class. All the managers work across other Baillie Gifford mandates, with lead manager James Dow also co-head of global income, and manages the Baillie Gifford Global Income Growth fund. Hargreaves Lansdown drops Whitmore's Global Value Equity fund from Wealth Shortlist Lesley Dunn is head of the credit team and manages ...

Audi on April 25 said it has decided to increase the prices of its car models in India by up to 2 per cent starting from June this year, PTI reported. The move comes as a response to the escalating input and transportation expenses affecting the company, it said. The price hike will come into effect from June 1, 2024, as per the automaker's official communication.

Amid a cost-of-living crisis, Ikea Canada says it has lowered its prices for hundreds of items this past month as part of the company’s continuing push to make home furnishing more affordable.

Vodafone Idea’s ₹18,000-crore follow-on public offer, India’s largest FPO to date, marked a turning point for the telecom industry. Calling the third-largest carrier a ‘national asset’, he said Vodafone Idea would stage a smart turnaround on the back of the fundraise and support from banks. “This moment in some ways marks the beginning of Vodafone Idea 2.0.

climate change is only making it worse. Now, a newly developed quantitative approach may help raise its prominence as an environmental, social and governance issue. The AI-driven tool, known as the Child Labor Index, scores companies in three areas: disclosure levels, public perception and the commodity-level exposure of the supply chain to child labor. Fund managers can use the scores to pinpoint high-risk companies and identify others that need to confront the issue. Among investors, “the level of awareness of child labor is incredibly low,” said Eleanor Harry, chief executive and founder of HACE, the UK-based startup that developed the index. “This will help them monitor risk in their portfolio.”

Temasek and US’ Fidelity are in advanced discussions to invest around $200 million in Lenskart through a secondary share sale at a valuation of about $5 billion, three people aware of the matter said. To put this in perspective, the round would take the homegrown eyewear company’s valuation to over three times that of Warby Parker, a New York-based online retailer for spectacles and contact lens. Warby Parker listed on the NYSE late in 2022 and has a market capitalisation of around $1.55 billion.

Concurrent Investment Advisors is welcoming four industry veterans to its roster of leadership as it looks to amplify its focus on growth and succession.