Sustainability Financial News

Shyam Metalics & Energy announced its ambitious foray into a greenfield expansion project focused on aluminium flat-rolled products. The Group intends to invest Rs 450 crore in the project. The investment is aimed at capacity expansion of the group while also generate the employment of 1000 direct and in-direct jobs. It will also increase manufacturing of Aluminium flat rolled products to bridge the demand & supply gap making Shyam Metalics group self reliant for the raw materials of aluminium foil business. The plant is to be setup in Odisha. With an annual capacity of 60,000 metric tons per year (KTPA) of flat-rolled products, this expansion marks a significant stride towards sustainable manufacturing and supporting the ever-increasing electric vehicle (EV) sector in India.

global demand for Indian goods despite the Red Sea crisis, which attracted military response from several countries, impacting trade. Outstanding export credit for Indian banks was seen at Rs 20489 crore at the end of January 26, rising 5% this financial year, data from Reserve Bank of India showed. This was the highest since February last year. «Export growth will be largely driven by global demand and as we do expect global growth to be steady, we can expect a recovery here. This will be reflected also in growth in export credit,» Bank of Baroda chief economist Madan Sabnavis said.

IMF has confirmed that cash-strapped Pakistan is seeking a 24th medium-term bailout package for a permanent push towards longstanding structural reforms. The International Monetary Fund (IMF) in its end-of-mission statement on Wednesday said the cash-strapped country «expressed interest in a successor medium-term Fund-supported programme to permanently resolve Pakistan's fiscal and external sustainability weaknesses, strengthening its economic recovery, and laying the foundations for strong, sustainable, and inclusive growth», Dawn News reported. It said the global lender's team reached a staff-level agreement with the Pakistani authorities on the second and final review of Pakistan's stabilisation programme supported by the IMF's USD 3 billion standby arrangement approved in July last year.

Read here: Bull run ends here! Phillip Capital sees Nifty 50 falling 15% to 18,550 Amid widespread concerns over froth formation in the Indian equity market, the brokerage stands out with a contrarian perspective. While many voices express apprehension, the brokerage contends that the Nifty 50 and Nifty Largecap 100 are presently fairly valued. In contrast, it sees substantial upside potential in the Nifty Smallcap 250 index.

ICICI Bank maintains its status as a preferred choice for investors and analysts alike, thanks to its strong fundamentals, robust growth prospects, and adept management. Let's take a look at the fundamental and technical outlook for the stock in the long term. Why is it still a good buy? Here's what experts say.

DBS Foundation has unveiled the 24 Businesses for Impact (BFIs) that have received the DBS Foundation Grant Award in the latest instalment of this flagship initiative. Five awardees are from India and will receive funding and access to a suite of opportunities, including networking and patient capital, to scale up operations, while collectively uplifting lives and livelihoods. These purpose-driven BFIs are working at the nexus of economic, environmental and social impact and their innovative solutions are a pathway to a more inclusive, low-carbon future. Project Baala, with its focus on sustainable menstrual solutions and literacy, aims to improve the health of women and girls in rural areas. Green Worms is an emerging circular economy enterprise generating employment for women, while Zerund Manufacturing is reshaping the building materials industry with eco-friendly solutions. Karo Sambhav is enabling a more circular economy by implementing collection and recycling solutions for electronic and other types of waste, while Swachh Sustainable Solutions (ReCircle) is championing a traceable supply chain for waste pickers.

Stock market today: As expected by most of the primary market experts, Krystal Integrated Services shares made a positive debut in the Indian stock market today. Krystal Integrated Services share price today listed on BSE at ₹795 apiece while on the NSE, it listed at ₹785 per share, delivering over 11 percent listing gain on BSE and around 9.8 percent premium on the NSE against its upper price band of ₹715 per equity share.

Time Technoplast, a leading manufacturer of polymer products, has seen its shares grow exponentially over the last four years, rewarding its shareholders handsomely. After facing two consecutive years of decline in CY18 and CY19, the company's shares made a sharp recovery in the subsequent year and have consistently maintained an upward trend since then. Over the last four years, the shares have grown from ₹24 apiece to the present trading price of ₹207, translating into a gain of 762%.

Gold rate today: On account of three US Fed rate cut buzz in 2024, gold price extended its Wednesday evening rally on Thursday morning deals. Gold futures contract on the Multi Commodity Exchange (MCX) for the April 2024 expiry opened higher at ₹66,100 per 10 gm and went on touch an intraday high of ₹66,778 per 10 gm within a few minutes of the commodity market's opening.

WASHINGTON — Below is the statement the Federal Reserve released Wednesday after its latest policy meeting ended:

An Amsterdam court has ruled that Dutch national airline KLM made misleading statements about sustainable aviation in a case that accused the carrier of “greenwashing.”

record-breaking GHG levels, soaring surface temperatures, sea level rise and glacier retreat. Combating these climate challenges requires shifting to a low-carbon pathway. Trillions in investment are needed for such projects, but access to funds and green tech remains a challenge, especially for developing nations.

startup entrepreneur dedicated to revolutionising the agricultural sector through the countrywide adoption of electric tractors, I believe that GoI’s new EV policy will herald a transformative era in this new-age industry. The policy’s provisions, including duty concessions for companies investing a minimum of $500 mn in EV manufacturing units and mechanisms to reduce customs duties on limited imports of EV products, are poised to spur innovation in the EV sector. At the core of our startup’s mission lies a commitment to sustainability, efficiency and empowerment. We envision a future where tractor owners across the country will have access to cutting-edge tech that boosts productivity while minimising environmental impact. The introduction of new EV designs aligns perfectly with our vision, fostering an environment conducive to growth and development in the burgeoning EV market. The stipulated minimum investment requirement underscores GoI’s dedication to attracting capital into the EV sector. This framework not only bolsters investor confidence but also charts a clear path for both new and established players. The surge in the number of EV manufacturers in India since 2021, which stood at 380, highlights the growing momentum in the sector.

Assam chief minister Himanta Biswa Sarma on Wednesday said that Assam is looking forward to new investment opportunities from Hindustan Unilever Limited (HUL) including enhanced value addition to the tea industry. Sarma stated on X, “Today in Mumbai, I had an excellent discussion with Mr. Dev Bajpai of Hindustan Unilever Limited & Mr. Prashant Mehta and Mr Saurav Sharma of Lilavati Medical Trust. Assam is looking forward to new investment opportunities by HUL including enhanced value addition to our tea industry. We anticipate an enthusiastic participation by Lilavati Trust in the State’s healthcare sector.” Sarma early this month said that within one month and without any investment summit Assam has secured Rs 80,000 Crore investment.

The latest measures of U.S. inflation have turned out to be hotter than expected

Indian equities are poised to lure more foreign inflows after the general elections, with the economy’s promising growth prospects and the Federal Reserve’s rate cuts acting as catalysts.

The Federal Reserve will announce its latest policy decision at its second meeting of the year today, and the stakes are high.

The rupee closed at 83.1575 against the U.S. dollar, weaker by 0.15%, compared with its previous close at 83.0350. The rupee touched an intraday low of 83.17, its weakest level since January 18.

Over the first quarter of 2024, WTI crude oil is expected to rise by at least 15%. This uptick marks the end of a downward trend observed in the third and fourth quarters of 2023, which was part of a broader trend that began in mid-2022.

Cordelia Tahany has been promoted to head of sustainability, alongside a role as a senior investment analyst, working across the investment and ESG teams. She joined the firm in April 2022 as an ESG and investment analyst, prior to which she held a role as an investment banking analyst at JP Morgan. Anam Ajani has been promoted to investment and ESG associate, and will support the investment team on the £37m Unicorn UK Smaller Companies and the £48m Unicorn Outstanding British Companies funds. She joined the firm in July 2022 as an investment analyst, prior to which she served as a senio...

Leo Capital, stated, “After the excesses of 2021 and 2022, it was inevitable that we had a funding winter. We are beginning to see more investments in 2024, but we believe it will still be a muted environment through 2024, perhaps comparable to pre-Covid years of 2018 and 2019." Two sectors are strong contenders: B2C eCommerceand SaaS.