Sustainability Financial News

Radhika Rao, Sr Economist & Executive Director, DBS Bank, says “if we look at the real GDP, I do not see any justification that the authorities might find to go too dovish too fast. Even this real rate gap that we all refer to, even that kind of loses the debate if this is the kind of growth momentum we are carrying. So, net-net, we will certainly wait for one more quarter of data. I think backward revisions need to be factored in and this kind of a gap between GDP and GVA in two quarters might normalise so that we might see real GDP adjust lower.” What is your first take of the completely divergent GDP number that has come in at 8.4%. What were you pencilling in? Radhika Rao: I think we were at about 6.8% for the real GDP and expecting the GVA to be about 6.5-6.6%. I think our GVA number is along what the print is, but the real GDP is certainly seeing a very strong upside surprise. In fact, we did a double take to see it was in fact, 8% plus! That means for the three quarters of the fiscal year, we are actually averaging about 8%, a massive upside surprise to the RBI's forecast, our forecast, as well as certainly what the advanced estimates were suggesting.

Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default rating (IDR) of Tata Chemicals to “stable” from “positive" while affirming the rating at 'BB+'. The revision in the outlook is based on the view that the global soda ash industry will remain oversupplied for longer than previously anticipated.

Covalent (CQT), a leading Web3 data indexer across +225 chains, stands out as a key player in providing structured data availability through one Unified API. Tailored to meet the diverse needs of AI, DeFi, Analytics, and Governance, Covalent has launched an innovative protocol revenue model that is set to support the adoption of decentralized technologies.

Purv Flexipack is likely to finalise the share allotment process today. Investors can check the status of Purv Flexipack IPO allotment by logging in to the official website of the registrar, which is Link Intime India in this case. Follow the step by step process mentioned below to check the status of allotment.

Dhaka Medical College Hospital and an additional 10 at the Sheikh Hasina National Institute of Burn and Plastic Surgery. The Inspector General of Police later confirmed another death at the Central Police Hospital, bringing the total to 44 casualties.

Sensex gained 195.42 points, or 0.27%, to close at 72,500.30, while the Nifty 50 settled 31.65 points, or 0.14%, higher at 21,982.80. Nifty formed a small positive candle on the daily chart with upper and lower shadow.

So, we are back to the argument about whether we have reached a new era of permanently higher growth and earnings, and because of productivity also a permanent state of steady disinflationary pressures.

Green job surge in India India's aim to achieve net-zero emissions by 2070 has led to a surge in green jobs- jobs that contribute to preserve or restore the environment. According to Teamlease, at the end of 2023, approximately 18.5 million green jobs were created across various industries, with projections indicating a doubling of this number by 2047.

Bank of Baroda. First crop advance estimates show a 4.6% decrease in major kharif crop production for the 2023-24 season to 148.5 million tonne. Although the rabi sowing season ended on 23 February with a slight increase in total acreage, there are concerns over a 6.5% decline in cereal cultivation.

Vodafone Idea (Vi), Neeraj Mittal, secretary in the department of telecommunications, said as he welcomed the approval given by the cash-strapped carrier's board to a fund-raise proposal. "We'll have to examine everything, if there is an opportunity, there is a need for it, how do the next few months look like in terms of their operations," he said in an interview, adding that the government may not look at divestment immediately. The Union government is the largest shareholder in Vodafone Idea, India's third-largest carrier, with a 31% stake.

The giant meat producer JBS was accused of making misleading claims about its greenhouse gas emission goals to boost sales among environmentally conscious consumers in a lawsuit filed by New York Attorney General Letitia James

The S&P BSE Sensex rose nearly 200 points while the Nifty50 closed higher but failed to hold above the 22,000 mark on Thursday.

ministry has built around 92,000 km of national highways in nine-and-a-half years and this will go up to 95,000 km by the end of March 2024, road transport and highways secretary Anurag Jain. Speaking at the two-day conference of road infrastructure, organised by the International Road Federation, Jain said the focus going forward will be on building more high-speed access controlled highways. “We are focusing on high speed corridors with a vision for the next 30 years,” he said, adding these are being built for the next fifty years keeping in mind prospective congestion and increasing population needs. “This will help avoid construction of bye passes and redoing of roads again and again,” he said.

Online retailers must minimize wares being returned According to Somick Goswami, Partner, and Business Transformation Leader, PwC India, the next phase of growth in e-commerce will be driven by consumers from tier 2, 3, and 4 cities because “online shopping provides a gateway for more brand choices as compared to physical stores". Flipkart to start same-day delivery in several Indian cities soon The PwC also pointed out that online shoppers largely rely on YouTube while buying a product because of the platfrom's content that comprises unboxing videos, usage experience, etc.

Stock market today: After crashing for the last three straight sessions, selling in Vodafone Idea shares paused on Thursday. Vodafone Idea share price today bounced back from its intraday low of ₹13.40 apiece on NSE and came close to ₹14 apiece levels. However, the telecom stock failed to sustain at higher levels and retraced from the intraday highs and once again came around ₹13.65 apiece level.

Varun Beverages has gained the most, almost 12 percent, followed by Godrej Consumer, up 10.2 percent, Tata Consumer, up 8.7 percent and United Spirits, up 2.8 percent. However, Emami is the top loser in the index, down over 18 percent, followed by ITC, down 11.8 percent. Meanwhile, HUL, P&G Hygiene, Britannia, and United Breweries also lost between 6 and 9.5 percent.

By Gloria Dickie and Lisi Niesner

prominent examples being power, PSU, and financial stocks. One stock that fit into all three categories was Power Finance Corp (PFC). The stock was up about 240% in 2023.

Imphal West Police Commando Personnel on Wednesday laid down their arms against the firing attack by an armed mob on the residence of Additional SP (Operations) Amit Moirangthem in Wangkhei Tokpam Leikai on Tuesday. Moirangthem and one of his escorts were abducted by the miscreants but were later rescued. The commandos are upset and said that they should have been allowed to retaliate against the miscreants. Commandos of Thoubal, Kakching and Bishnupur District also joined the gun-down protest.

Anand Tandon, Independent Analyst, says “in India, housing still remains something which is fairly attractive. To a large extent, it is a function of how much funding is available and while housing finance companies are an easier way to play realty in a more sustainable way, you could have bought some of the real estate companies. The way to play the sector is to buy housing finance companies and that still remains a good trade.” The Association of Mutual Funds in India has come out with a circular to the trustees of the mutual funds to protect interest of investors of smallcap and midcap schemes, indirectly cautioning them a bit with respect to the kind of froth that we are seeing in the smallcap, midcap space. Would you concur with the view that smallcaps are getting a lot more headier? Anand Tandon: Smallcaps have been valued higher than midcaps and largecaps for quite a while now.

investors for the IPO, Owais Metal and Mineral Processing is likely to finalise the share allotment process today. Investors can check the status of Owais Metal and Mineral Processing IPO allotment by logging in to the official website of the registrar, which is Bigshare Services in this case. Follow the step by step process mentioned below to check the status of allotment.