Sustainability Financial News

In the latter part of February, the US dollar index lost momentum but found stability around 103.8 in the past week.

Hedge funds piled into tech stocks in the weeks before Nvidia Corp.’s earnings. Now, they’re cashing out and selling at the fastest pace in seven months. 

Paytm and Byju's, have sparked discussions on the evolution of the start-up and entrepreneurship landscape in India. Touted as the beacons of India's burgeoning unicorn ecosystem, the seeming crash of mighty multi-billion dollar Byju's and Paytm Payments Bank has shaken the edtech and fintech start-up spaces in particular. For the uninitiated, Paytm's fintech arm Paytm Payments Bank (PPBL) has been hit with harsh regulatory limits by the Reserve Bank of India (RBI) --- limits that essentially shut down the whole operation.

R Systems International has signed a memorandum of understanding (MoU) with the Indian Institute of Technology Delhi (IIT Delhi) to set up a Centre of Excellence (CoE) on Applied AI for Sustainable Systems at IIT Delhi. The centre will include a cutting-edge research lab, the institute said in a statement. The centre will create an endowed faculty chair position and offer merit-based student scholarships, it said.

NEW DELHI : Prime Minister Narendra Modi exhorted captains of India’s textiles industry to tap the export potential for their products in Africa and the European Union. This draws significance at a time when India is positioning itself as a global textiles sourcing destination by focusing on quality and sustainable manufacturing of apparel. In the first 10 months of the current fiscal year, India exported $27.69 billion worth textile products across the globe.

Venture capital firm Peak XV, formerly Sequoia Capital India and South East Asia, on Monday said it has launched new startup cohort Spark 03 with 14 companies that include 16 female founders. 

In recent years, the performance of precious metals has displayed remarkable resilience and stability, making them an attractive option for investors seeking to diversify their portfolios. Gold, for instance, experienced significant growth in 2023, marking an annual increase of approximately 13%.

Hardik Pandya is set to make a comeback to competitive cricket in the DY Patil T20 tournament, commencing today (February 26). Leading the Reliance team, the Mumbai Indians skipper will commence their campaign against Bharat Petroleum. 

By Varun Fatehpuria

Skoda Auto Volkswagen India, one of the leading automakers in the country, has received the Indian Green Building Council (IGBC) Platinum certification in the Indian Automotive Industry in the owner-occupied category.

MintGenie, Bhattacharya said that India has benefited from a combination of local and global trends, including the Indian government’s favourable stance towards infrastructure development, geo-political diversification through initiatives like China+1, and the demographic dividend poised to favour India over the next 25 years. Although it was an interim budget in an election year, it adeptly strikes a balance, prioritizing sensibility over populism.

Gurugram, 23rd February, 2024: With the threat of climate change increasing by the day, green power has become the need of the hour. Across various industries, there is a growing recognition of the importance of transitioning to renewable energy sources to mitigate environmental impact and work towards achieving net-zero emissions goals. To bring India a step closer to procuring green power, BluSmart, India’s largest born-electric, fully integrated eMobility ride-hailing services and EV charging infrastructure network, proudly announces a multi-year Power Purchase Agreement (PPA) with Tata Power Trading Company Ltd.

Dara Khosrowshahi. In an interview with the Economic Times, the executive shared insights into the company's investment strategy in India, its focus on mobility, profitability, the electric vehicles (EV) business, and differences in his management style compared to Uber's founder Travis Kalanick. Reflecting on the founder vs.

Shriram Finance, KFin Tech, Eicher Motors, TVS Motors, Coal India, L&T, Thermax, NTPC, JSW Energy, Godrej Properties, Macrotech Developers, Bharti Airtel, Honasa Consumer, Zomato, Piramal Pharma, Apollo Hospitals, Ultratech Cement, Ambuja Cement, Kajaria Ceramics, Amber Enterprises, Supreme Industries, and PI Industries. Axis Bank: Axis Bank is one of Jefferies' top picks, as it believes that past investments have made the franchise stronger and that the bank is on track to deliver 16-18% growth in loans, improve its deposit profile, and sustain ROE of 18%. Integration with Citibank’s India retail platform is progressing well with limited attrition among staff and customers and significant scope for synergies in 60 areas on revenues and cost.

₹1,140. However, it subsequently endured a substantial downturn, plummeting by almost 300 points, constituting a significant 26 per cent decline. Presently, the stock seems to have discovered a level of support within the bracket of ₹840-900, suggesting a potential stabilization in its price movement.

Goldman strikes $1 billion private credit deal with Mubadala The growth investment firm drew commitments from the likes of private and public pension funds, university endowments and insurance companies for the Edda III fund, according to a statement. “We only invest in companies that pass our 2040 test," Bjarne Kveim Lie, Verdane’s co-founder and managing partner, said in an interview.

Mumbai bench of Income Tax Appellate Tribunal has allowed ICICI Bank Ltd to avail ₹1,855 crore bad debt write-off as deduction, but dismissed the private bank's appeal seeking ₹502-crore worth long-term capital loss allowance. The appellate tribunal was hearing ICICI Bank's appeal against an order of principal commissioner of Income tax (PCIT) for 2015-16. The PCIT had ruled that an allowance of long-term capital loss of ₹996 crore was irregular and that the bank had claimed an excess capital loss of ₹502 crore. The bank had calculated capital gain and capital loss while acquiring and selling shares, applying the cost of inflation index on foreign currency rather than Indian currency, it said. The ITAT bench of Sandeep Singh Karhail and Prashant Maharishi upheld the order of PCIT and observed that ICICI Bank transacted in Indian currency and, therefore, it could not have indexed the cost of inflation on foreign currency.

Durable, high GDP growth requires inflation to be under control but real interest rates above 2% may not be sustainable when it comes to supporting the growth needs of the Indian economy, said Shashanka Bhide, member of the Monetary Policy Committee of the Reserve Bank of India. If one goes by the MPC's projection of 4.5% average inflation in FY25, the prevailing policy repo rate of 6.5% translates into a real interest rate of 2%. Edited excerpts of an interview with ET: In your view, what is an appropriate level of real interest rate that pushes inflation back to target while ensuring that growth is supported? With the policy rate as the instrument, there is a trade-off in terms of growth while bringing down the inflation rate to the target. However, a moderate inflation rate is also needed to achieve sustained high growth. While real interest rates above 2% may not be sustainable from a growth perspective, the persistence of inflation above the target is also unacceptable in the present framework.

UFlex Limited has not only managed to provide an efficient solution to recycling multi-layer mixed plastics but have also shown a willingness to share this expertise with the wider industry ensuring that the wider industry reaps the rewards of innovative sustainable practices. Their enzyme-based delamination technology provides a sustainable packaging solution by efficiently segregating layers in aseptic packaging and reintroducing recycled paper into circulation, thereby closing the circular loop.

₹510 crore via initial public offerings (IPO). The shares of EaseMyTrip is currently trading at ₹47.85 on NSE. Also read: Gloves on: Not taking allegations lying down, remain CEO, says Byju Raveendran Rikant Pittie, co-founder of EaseMyTrip, in a recent interview with Mint's Vaamanaa Sethi shared insights about his overall entrepreneurial journey and also talked about the challenges the company faced in the initial days.

Diana Shipping Inc . (NYSE:DSX) successfully navigated mixed market conditions in the fourth quarter of 2023 to generate positive free cash flows and maintain high fleet utilization. CEO Semiramis Paliou highlighted the company's disciplined chartering strategy and investments in greener shipping during the year-end conference call.