Sustainability Financial News

J.P. Morgan Asset Management has quit a global coalition of investors that aims to ensure the world’s largest corporate greenhouse gas emitters take necessary action on climate change.

Sensex is trading at around 5 percent valuation premium based on intrinsic value. However, mid-cap stocks are commanding a reasonable valuation premium over their historical averages while there is a froth in the small and micro-cap segment, reports Client Associates (CA) Annual Equity Assessment 2024. While large-cap private banks, NBFCs, and IT are looking relatively attractive in terms of valuations, Industrial, PSUs, consumer, and capital goods are expensive as compared to their medium-term averages, the report further adds.

By Simon Jessop

Supreme Court on Thursday banned electoral bonds that had become a major source of funding for political parties in India. The scheme, termed 'unconstitutional' now by the apex court contributed over Rs 16,000 crore to political parties' coffers since 2018. Among the beneficiaries, the ruling Bharatiya Janata Party (BJP) stands out, receiving a lion's share of around 55%, or approximately Rs 6,565 crore, PTI reported citing data from the Election Commission and the Association for Democratic Reforms (ADR). These bonds, which allow for anonymous donations, have been a key component of political funding, with some regional parties relying heavily on them for financial support.

Sustainable Investment Awards 2024

Investing.com-- The Japanese economy unexpectedly shrank in the fourth quarter of 2023, entering a technical recession as sticky inflation and a weak yen weighed on private spending, which largely offset improved export demand. 

BSE on Thursday, February 15, a day after declaring its December quarter results. Mahindra and Mahindra share price opened at ₹1,683.10 against the previous close of ₹1,657.60 and jumped 4.7 per cent to the level of 1,734.70. Around 10:55 am, the stock traded 3.78 per cent higher at ₹1,720.30 on the BSE.

Paris climate targets ahead of schedule and remains firmly committed to addressing the global issue. Prime Minister Modi said India's carbon emissions account for only four per cent of the global total despite it being home to 17 per cent of the global population and undertaking some of the world's largest energy access initiatives. Congratulating the IEA on its 50th anniversary, the prime minister said, "I am sure that the IEA will benefit when India plays a bigger role in it." "Inclusivity boosts the credibility and capability of any institution," he said and added that "1.4 billion Indians bring talent, technology and innovation to the table".

Public sector undertakings (PSUs) offer investors the opportunity to diversify and manage risk, even as they continue to present potential for capital appreciation. Here is what some fund managers think about the sector and its current rally: “We firmly advocate assessing companies based on their structural growth trajectory, regardless of their public or private ownership. It’s imperative to recognize the significant growth narrative and competitive advantage present in key sectors where PSUs operate.

Jardiance (empagliflozin) 10mg dosage form has now been approved by the Central Drugs Standard Control Organisation of India for the treatment of chronic kidney disease (CKD), as an additional indication. This indication approval allows the nephrologists and cardiologists to use Jardiance 10mg tablets for the treatment of CKD in eligible patients. Jardiance in clinical trials has found to reduce the risk of sustained decline in estimated glomerular filtration rate (eGFR) (for patients with eGFR 30-90), end-stage kidney disease, cardiovascular death, and hospitalization in adults with chronic kidney disease (CKD) at risk of progression.

MSP, as demanded by protesting farmers at Delhi's borders, is a bad idea — especially for farmers. GoI's goal is to improve the farm sector, resulting in higher income for farmers. It is right in ruling out this particular demand, which will not benefit the bulk of farmers who have small holdings, often working as farm and non-farm labour.

₹339.50 per share on the NSE, well above its issue price of ₹311. The stock climbed further, reaching a high of ₹342.70, before closing at ₹321.50, This positive response came after strong investor interest, with the IPO subscribed 59.71 times and exceeded the grey market premium, which had dropped from ₹83 on 8 February to ₹34 on Wednesday. Capital Small Finance Bank opened at ₹430.25 apiece on the NSE, below its issue price of ₹468.

International Energy Agency's member countries have begun talks with India on its application to become a full member of the Paris-based agency of 31 nations, IEA said on Wednesday. In a statement issued after IEA's 2024 ministerial meeting in Paris, the agency said the talks with India are in recognition of the country's "strategic importance" in tackling global energy and climate challenges. «The Ministerial gave the IEA a strong mandate to deepen cooperation with major emerging economies. This includes starting discussions with India on its request for full IEA membership,» it added. India, which joined the IEA as an associate member in 2017, sent a formal request for full membership in October 2023.

Despite a barrage of Republican attacks, lackluster returns and diminishing client interest in the US, BlackRock Inc. has been quietly expanding its dominance in ESG investing.

Kiabi which is present in about 25 countries, on Wednesday announced that it has forayed into Asia, through its association with Myntra in India. ET had last year reported that the brand was in talks to enter the Indian market. The brand has its presence across Europe, the Middle East, Africa, South America, and now, Asia.

In the last few weeks, we saw the drawn-out correction in Bitcoin and its main rival, Ethereum, come to an end.

Shipping Corporation of India share price while has gained around 85% in last one year, Great Eastern shipping company share too has gained almost 65% during the period. Essar Shipping however has seen its stock prices grow three folds. The overall outlook has improved for shipping companies regularly post Covid followed by geographical uncertainties.

Narendra Modi on Wednesday said India brings talent and innovation to the table and the International Energy Agency (IEA) will benefit if the world's fastest growing major economy plays a bigger role in the Paris-based organisation. In a recorded message for the ministerial meeting of the IEA, he said India has surpassed its Paris climate targets ahead of schedule and remains firmly committed to addressing the global issue. Prime Minister Modi said India's carbon emissions account for only four per cent of the global total despite it being home to 17 per cent of the global population and undertaking some of the world's largest energy access initiatives. Congratulating the IEA on its 50th anniversary, the prime minister said, «I am sure that the IEA will benefit when India plays a bigger role in it.»

Blame it on the operational challenges of Byju’s, the erstwhile poster child of the edtech space, or the unending funding winter for startups, but the once-promising sector seems to be losing the plot. That’s an embarrassing about-turn for a segment that became a household phenomenon during the pandemic as remote learning drove many companies to a boom. But it’s possible for edtech to bounce back from its short-term challenges once funding improves, given the evergreen demand for learning, some experts say.

green energy initiatives, Cochin International Airport Ltd (CIAL) has entered into a Memorandum of Understanding (MoU) with the Bharat Petroleum Corporation Ltd (BPCL) for setting up a green hydrogen plant in the premises of Cochin Airport. This collaborative effort will result in the world's first green hydrogen plant and fueling station located within an airport setting, CIAL said in a statement on Wednesday. Green hydrogen, produced from water using renewable energy sources, is recognized as a future fuel and aligns with zero-carbon energy strategies, it said. The agreement exchange ceremony for the green hydrogen plant was held at Legislative Complex, Thiruvananthapuram in the presence of Kerala Chief Minister Pinarayi Vijayan who is also the chairman of CIAL, the statement said. «As pioneers in sustainable aviation, CIAL is happy to start a groundbreaking journey with BPCL towards establishing the country's first green hydrogen plant in an airport,» CIAL Managing Director, S Suhas IAS is quoted as having said in the statement. He also said that this strategic collaboration underscores CIAL's commitment to green energy and propels closer towards a zero-carbon future in the aviation landscape.

Adani Green Energy Limited (AGEL) is planning to develop a 30 GW renewable energy plant with a colossal plan in Khavda, India. The project is, poised to be the world's largest upon completion, and is expected to generate a staggering ~81 billion units of electricity annually, enough to power 16.1 million homes and prevent a whopping 58 million tonnes of CO2 emissions each year. AGEL plans on expanding its operational portfolio to 9,029 MW and total portfolio to a commanding 20,844 MW.