Sustainability Financial News

Finance minister Nirmala Sitharaman has hinted that India’s economy will see gross domestic product (GDP) expand 8% or more in the three months ended 31 March. “Hopefully, the fourth quarter… will also have (growth of) 8% or above 8%, resulting in 2023-24 having an average growth in GDP of 8% or over 8%," she said at a Mint summit on Saturday. This sends an optimistic signal on our post-pandemic growth momentum.

Bitcoin’s next halving could push its value sky-high, with some experts predicting a spike up to $200,000. This major potential growth shines a spotlight on the entire crypto universe, where there are other lesser-known digital currencies that might also soar. In line with such extraordinary market movements, investors are scouting for the next big hitters. Hidden within the vast crypto space, a select few altcoins are showing signs of enormous upside, possibly reaching a thousand percent rise.  

Maharashtra has decided not to make any changes to ready reckoner rates for the financial year 2024-25. The rates--minimum per sq ft value set by the government used for calculation of taxes, premiums, etc--were last changed in 2022. The government of Maharashtra has fetched revenue worth nearly Rs 36,000 crore through stamp duty collection and registration charges in the financial year 2023-24. Realty developers expect the state government’s decision to maintain status quo on ready reckoner rates will support the sector, especially the affordable housing segment.

Indian stock market: The Nifty has made a notable advance above 22,500, following a sustained movement beyond 22,100. Moreover, there's a visible consolidation breakout on the daily timeframe, indicating an increase in optimism. However, the Nifty faced initial resistance around its previous swing high of 22,526.

Panasonic Group will form a joint venture with Indian Oil Corporation Ltd (IOCL), the nation's biggest oil firm, to manufacture cylindrical lithium-ion batteries. Panasonic Energy Co Ltd, a group firm of Japan-based multinational electronics company, has signed a binding term sheet and initiated discussions with IOCL «to draw a framework for the formation of a joint venture» to manufacture cylindrical lithium-ion batteries, said a statement on Sunday. «This initiative is driven by the anticipated expansion of demand for batteries for two- and three-wheel vehicles and energy storage systems in the Indian market,» it added. Cylindrical lithium-ion batteries are commonly used in consumer electronics, power tools, and electric vehicles. Panasonic Energy is a maker of automotive lithium-ion batteries.

In the realm of meme coins, PEPE price stands out with its recent surge, now trading at $0.000009 and sparking keen interest in Pepe price prediction analyses.

Luxury car sales in India could cross the milestone of 50,000 units for the first time in a year in 2024 amid growing demand for such models, according to Audi India head Balbir Singh Dhillon. The overall domestic luxury car segment grew by 28 per cent annually last year to record sales volume of around 48,500 units. Luxury car volumes in India currently account for less than 2 per cent of the overall passenger vehicle sales annually and the sector has been more or less at the same level for the past decade. «Even if the sales grow by around 10 per cent and we do not face issues like disruptions like issues with global supply chain, we (industry) could cross the 50,000 volume mark in a year for the first time ever in 2024,» Dhillon told PTI in an interaction.

Dogecoin’s (DOGE/USD) price sitting at $0.200469, following a 24-hour trading volume of $2,470,300,185. Ranked #8 by market capitalization, Dogecoin has recently witnessed a 7.18% decline, leaving investors and traders considering the next move for this dynamic cryptocurrency.

International Zero Waste Day, Sachin Sharma, founder and director of Gem Enviro Management, speaks with KumKum Dasgupta about what India must do to combat the mounting plastic challenge and how his company is helping top businesses offset their plastic footprint. GEM provides a complete value chain of sustainability services to clients, including collection, recycling, awareness, and recycled merchandise. Tell us a little bit about GEM and clients. GEM was established in 2013-14 with the objective of collecting plastic waste and sending it to the proper recycling chain. GEM serves over 125 major Indian companies, including industry leaders like Coca-Cola, PepsiCo, Bisleri, Mamaearth, Himalaya, and Herbalife, offering waste management and extended producer responsibility (EPR) solutions.

Buy or sell stocks: After moving into a narrow range movement in the last few sessions, the Indian stock market witnessed a decisive intraday upside breakout on Thursday. The Nifty 50 index gained 203 points and closed at the 22,326 level, the BSE Sensex surged 655 points and closed at the 73,651 mark whereas the Bank Nifty index shot up 338 points and ended at the 47,124 level. In the broad market, the small-cap index gained 0.33 percent while the mid-cap index scaled 0.62 percent north on the last trade session of FY24.

investors are on guard for potential bumps in the second quarter as they gauge whether the Federal Reserve delivers on an expected interest rate cut by June and turn their focus on the health of upcoming earnings. The S&P 500 ended the first quarter with a gain of more than 10%, its largest first quarter advance since the nearly 13.1% jump in the first quarter of 2019. While so-called Magnificent Seven stocks such as chipmaker Nvidia and Facebook parent Meta Platforms provided the bulk of the gains for the quarter, economically-sensitive sectors such as energy and industrials have rallied over the past six weeks.

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Among the seven startups selected under Cisco and Social Alpha’s Krishi Mangal second edition, Pune-based Proximal Soilsens Technologies Pvt. Ltd. stands out due to the uniqueness of their product and its relevance for farmers. Launched in 2021, Krishi Mangal is a scale-up accelerator program that supports agritech startups to design solutions for and support smallholder farmers.

BSE PSU index, a barometer of public sector enterprises' performance, zoomed from 9,497 points to 18,274 points, translating into a stellar gain of 92.4%. The government's accelerated capex spending, coupled with sector-specific reasons, has helped PSU stocks achieve record gains in FY24. In the recent interim budget (FY24-25), the government raised the capital outlay by 11.1% to ₹11,11,111 crore, equivalent to 3.4% of GDP.

Kia India on Friday said it is planning to have around 700 sales and service touchpoints in 300 cities by the end of the year. The automaker, which sells models like Seltos and Sonet, has 522 such touchpoints across 236 cities. The company said it is focussed on strengthening its presence in Tier-1 and Tier-2 markets, contributing 40 per cent to its total network strength. Kia India is also focused on expanding its touchpoints in the Tier-4 and upcountry markets, it added.

Bambrew, a cleantech startup operating in the sustainable packaging space, on Friday said it has raised Rs 60 crore (about $7 million) in Series A funding round led by Blume Ventures. The funding was a mix of equity and debt. The equity element totalled to about Rs 30 crore, a company spokesperson told ET.

Mutual Fund’s Retirement Readiness Survey 2023, two observations significantly struck my attention. One — that people plan for happy outcomes and disregard the importance of negative ones. Perhaps it's because we've witnessed our elders grappling with health issues, boredom, loneliness, and financial dependency on their children.

A young Alberta distillery just took home a huge title at the World Whiskies Awards in London, England, beating out submissions from Scotland, Ireland, Japan and the U.S.

Dogecoin has witnessed a remarkable surge, touching $0.217210 with trading volumes soaring to $5.84 billion.

Bitcoin (BTC) sustained its rise, trading at approximately $70,750 as the cryptocurrency market’s total value approached $2 trillion, currently at $1.97 trillion, marking a 1.75% increase in 24 hours.

Arunachal Pradesh. There was trouble during the scrutiny of nomination papers. A senior police officer who does not want to be named told ET, “There was stone pelting by a group during the scrutiny of the nomination papers, security forces had to fire in the air to disperse the crowd. Superintendent of Police Dekio Gumja sustained injuries in the stone pelting.” The assembly elections in Arunachal Pradesh will be held in the first phase on April 19. Nominations ended on Wednesday.