Sustainability Financial News

₹2,500 crore a year. Unless we can find them a better way to meet their costs, I worry that there will come a time when the system becomes unsustainable. Credit card companies charge an MDR to help offset the costs they have to incur in guaranteeing payments.

The European Council recently approved the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), a due-diligence requirement that creates a legal liability for EU-based firms arising from any environmental and human-rights violations (including labour rights) within their supply chains. The CSDDD awaits a nod from the European Parliament, which is going for elections in June. Indian exporters are still grappling with the European Union’s Carbon Border Adjustment Mechanism (CBAM) that will effectively tax our carbon-intensive industries serving EU markets.

hypocritical paradoxes? — such as renewable energy-friendly oil'n'gas conglomerates, or sustainable development construction firms. But no one seems to bat an eyelid when it comes to the same kind of oxymorons if it comes with the right kind of pomp and tradition.

₹32,400 crore for capital expenditure (capex) over the next three years as part of its expansion plans. The company said it plans to increase its capacity to around 200 million tonnes per annum (MTPA) in the near future. It also announced the commissioning of two new greenfield projects with a total capacity of 5.4 MTPA in an exchange filing.

UltraTech Cement Limited Aditya Birla Group on Tuesday said it is commissioning two new greenfield capacities totalling 5.4 mtpa in the states of Chhattisgarh and Tamil Nadu. This will take the Company’s total cement capacity to 151.6 mtpa. This capacity is more than 150 per cent of the capacity in the United States and 80 per cent of Europe's capacity, said the company in a statement. “It took 36 years for the cement business of the Aditya Birla Group, to get to a capacity of 100 mtpa. And UltraTech has subsequently added the next 50 mtpa in less than 5 years with an investment of around Rs. 32,000 crores,” it added.

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GE Vernova, which houses General Electric's (GE) renewable energy, power, and digital businesses on Tuesday said its spin-off from GE is complete and it will begin trading as an independent company on the New York Stock Exchange under the ticker symbol GEV. In 2021, General Electric decided to split its businesses into GE Healthcare, GE Aerospace, and a third unit, GE Vernova.

Adani Enterprises share price that has risen 90% in last year has more than doubled from lows seen in February last year. Analysts at Jefferies India Limited however expect almost 17% upside for Adani Enterprises led by commissioning of Copper unit first phase and expansions being undertaken during second phase. The target price of Jefferies for Adani Enterprises stands at ₹3800 while the stock is trading at close to ₹3260 levels.

Stock market today: Shares of Servotech Power Systems Ltd are one of the multibagger stocks that the Indian stock market has delivered in recent years. In the last one year, the EV charging solutions company's share has appreciated from nearly ₹19 to ₹85.50 apiece on NSE, logging around 350 percent rise in this time horizon.

The French foreign minister has pressed China on trade issues and the war in Ukraine ahead of a planned visit to France by Chinese leader Xi Jinping later this spring

Sunteck Realty has emerged as the worst-performing stock in the sector, both over the past year and in the year-to-date (YTD) period of 2024. While the realty sector has seen significant gains, with the Nifty Realty index soaring, Sunteck Realty has shown comparatively modest performance. Over the past year, it has gained 44 percent, and this year, it is down by 4 percent, significantly underperforming the broader realty index.

My PPF corpus of about Rs 30 lakh matures on 31 March. I can continue the account for five years and withdraw every year an amount equivalent to the annual interest earned, or I can invest Rs 15 lakh each in two Senior Citizens’ Savings accounts for me and my spouse. My income tax slab is 20%. Which option is better? Amit Maheshwari, Partner, AKM Global: A PPF account matures after 15 years from the end of the financial year in which it is opened.

ESG practices are considered pivotal for business sustainability and community engagement. Consumers are increasingly favouring socially conscious brands, providing a competitive edge for MSMEs embracing sustainability.

Mint. To assess this, the analysis used interest coverage ratio (ICR), or the ratio between operating profit and interest outgo: if the former exceeds the latter, a company has sufficient cover for its interest obligations. Companies for which the ratio was less than one were classified as ‘stressed’.

₹243.45 apiece on the BSE. Aditya Birla Fashion shares also traded with heavy volumes as a total of 3 crore shares changed hands today as against one one-week average of 30 lakh shares. Aditya Birla Fashion and Retail Ltd (ABFRL) on Monday said it is evaluating the vertical demerger of Madura Fashion & Lifestyle business from itself into a separate listed company.

Reserve Bank of India (RBI) to seek a bigger global role for the rupee through the next decade to match New Delhi’s world-beating rates of economic expansion, fixing a significant milestone target in what would be the local currency’s long journey toward capital account convertibility. “Today, India is becoming an engine of global growth with a 15% share of the total,” Modi said at the 90 th Foundation Day of the RBI. “Efforts should be made to make the rupee more accessible and acceptable all over the world.” The RBI has lately pioneered the digitisation of payments through the Unified Payments Interface (UPI), a platform many developing and developed nations are keen to use. It has also helped improve the asset quality of Indian lenders through a determined clean-up drive, aided by a revamped bankruptcy law.

BSE Midcap index rose 1.64 per cent while the Smallcap index jumped 2.98 per cent. The overall market capitalisation (mcap) of BSE-listed firms rose to nearly ₹393.2 lakh crore from nearly ₹387 lakh crore in the previous session, making investors richer by nearly ₹6.2 lakh crore in a single session. Nearly 170 stocks, including Larsen & Toubro, Tata Steel, Adani Ports, DLF, Ambuja Cements, IndiGo, ICICI Prudential Life Insurance Company and Grasim Industries, hit their fresh 52-week highs in intraday trade on BSE.

Rural India has not been marching in step with the overall economy. The disparity grew during the pandemic when the rural demand was badly hit and poor weather later depressed it further. But an important indicator has revealed an uptick in rural demand. Motorcycle and scooter sales in India, a significant proxy for demand in rural areas, likely grew in double-digits in the financial year 2023-24, crossing pre-Covid levels, buoyed by sustained revival in demand in urban as well as rural markets. Also Read: India's motorcycle and scooter sales likely crossed pre-Covid levels in FY 23-24

Adani Total Gas share price jumped as much as 8 per cent in intraday trade on BSE on Monday, April 1, after the company announced it started production at Barsana Biogas Project. Adani Total Gas share price opened at ₹947 against its previous close of ₹925.45 and jumped 8 per cent to hit its intraday high level of ₹1000 in trade so far.

Crisil Ratings on Monday said the credit quality outlook for Indian corporates remains positive for the April-September period of the 2024-25 fiscal year with upgrades continuing to outpace downgrades. In the last fiscal year, Crisil gave 409 rating upgrades and 228 downgrades. Some export-linked sectors, such as textile and seafood, saw a higher downgrade rate due to subdued global demand or high-cost inventory that impacted profitability. «India Inc's credit quality outlook is positive for the first half of fiscal 2025 with upgrades expected to outnumber downgrades. Multiplier effect of government capex will continue to drive infrastructure and linked sectors. Healthy balance sheets will continue to support the credit quality outlook, with capex funding seen prudent,» Crisil Rating said. It said the outstanding bank credit is expected to cross Rs 200 lakh crore by March 2025, from Rs 172 lakh crore a year ago, even though there would be moderation in the rate of credit growth.

Gold rate today: On account of the fresh escalation of the geopolitical tension in central Asia and the dovish US Fed on interest rates, gold price today climbed to a new lifetime high of $2,259 per ounce in the international market. Spot gold price today opened flat at around $2,233 per ounce level but soon gathered upside momentum and touched an intraday high of $2,259 level, which turned out a new record high for the yellow metal. Asked about the reasons that are fueling gold prices across the world, Anuj Gupta, Head of Commodity & Currency at HDFC Securities said, “Gold prices are escalating due to rise in the geopolitical tension in the Middle East and US Fed rate cut buzz." Anuj Gupta said that the gold price has given a breakout above the $2,250 level in the intraday session.