Sustainability Financial News

Fitch Ratings Tuesday affirmed India’s rating at ‘BBB-‘ with a stable outlook, underpinned by strong domestic and external fundamentals. “India's rating is underpinned by a robust medium-term GDP growth outlook and sound external finances, which remain intact as the country has effectively navigated a fraught external environment in the past few years,” the global rating agency noted. The global rating agency also revised its growth forecast for the year upwards to 6.9% from the 6% projected earlier. It pointed out that India will remain the fastest-growing economy in the next few years as economic momentum proves resilient, projecting 6.5% growth in the coming fiscal. “Investment is likely to remain a key growth driver, as the government's capex drive is likely to continue, and private investment should accelerate gradually. Consumption is likely to moderate further in the near term due to reduced household savings buffers,” Fitch said. The first official estimates released by the government earlier this month pegged the country’s growth at 7.3%, driven by a higher investment rate. Fitch noted that the government’s infrastructure push, a strong private investment outlook and favourable dynamics will keep the country’s potential growth at 6.2%. “The improved health of bank and corporate balance sheets should pave the way for a positive investment cycle.

The News Minute, in October 2016, reported that people in Thiruvananthapuram went on a “reckless killing spree by beating 27 strays to death" after a 90-year-old man died from a dog attack. And in May 2018, Hindustan Times reported that villagers in Uttar Pradesh’s Sitapur killed eight dogs in retaliation after some strays attacked locals.

The FCA will sit as an active observer and has asked the group to report on how the advice sector can be supported in delivering good practice in the second half of 2024.

«For a sustained upward movement towards 22,300 level, the index needs to decisively break above the 22,150 mark. On the downside, the immediate support is located at 21,950, and a clear break below this level could trigger further corrections towards the 21,800 mark,» said Kunal Shah, senior technical & derivative analyst at LKP Securities. Here are 2 stock recommendations for Wednesday: Buy BSE at Rs 2,317-2,320 Target Price: Rs 2,450 Stop Loss: Rs 2,250 BSE is seen to be breaking out of a pattern formation and making a bullish candlestick on the daily timeframe, which indicates strength.

Atsuya Technologies has bagged the Genesis Innovator award at the National Startup Awards 2023. Union Industries Minister Piyush Goyal gave away the awards at an event in Delhi on Tuesday. The awards are announced annually by Startup India, an arm of the Union government, to recognise startups engaged in developing cutting-edge products and solutions, across sectors.

Jammu and Kashmir, as an unlawful association. The Jammu and Kashmir-based group, founded by deceased separatist leader Syed Ali Shah Geelani, was declared outlawed by the government on December 31 under the Unlawful Activities (Prevention) Act, 1967, for five years.

The pre-owned category is a growing segment in the country that is being driven by consumers' desire to own rare and unique products and be more sustainable in their purchases. In addition, with the growing influence of western fashion trends and the rise of disposable income, consumers are looking at buying exclusive pieces that are easily available.

Ministry of Ports, Shipping, and Waterways (MoPSW) has constituted a high-level task force to oversee the establishment of the Indian Maritime Centre (IMC), in a bid to build global credibility for the Indian maritime sector. The main objective of the task force is to provide policy direction for the formation of IMC for smooth and sustainable operationalisation, the ministry said in an office memorandum.

Edtech startup Unacademy has appointed Pratik Dalal as CFO of its offline centres business, CEO Gaurav Munjal told employees in an internal memo on Tuesday. Dalal was most recently heading business finance at Cred, prior to which he was VP of business finance at Flipkart.

Parakramsinh Jadeja, CMD, Jyoti CNC Automation, says “out of the IPO proceeds, we are going to pay close to Rs 475 crore on debt and after that will have less than 0.25% debt to equity ratio and in the next two to three years, we are looking to be a debt-free company. In terms of new capex, our plant has been put up over there. We do not need to invest much over here and then that kind of a total four phase we do, we do not need extra space to be there.” Your company is the third largest CNC manufacturer and it has seen its fair shares of ups and downs as well. After suffering a setback in FY21-22, you have turned the corner in FY23 now and turned profitable as well. What led to this turnaround and what is the outlook now going forward? Is the profitability you think sustainable going forward? Parakramsinh Jadeja: we have a robust order book and in terms of a percentage also if you look at the past, first half numbers are grooming up there.

Vishal Malkan of Malkansview.com, says the benchmark indices are moving slow but steadily with Nifty making new highs almost every week. Along with this, broader markets are also participating, especially the blue chip companies. I think this rally will still continue or at least sustain. There might be like 200-300 point correction which is hardly a percent or two but will provide buy on dips opportunities. As of now, at least the benchmark indices are quite subdued and nothing exciting there but broader markets is where the fun is happening. What is your thought in terms of the benchmark indices? Do you think that now is a time to be a bit cautious on the markets? Vishal Malkan: I would say that benchmark indices are moving slow but steady.

ICICI Securities calculations suggest that India’s first US Dollar 1 trillion market cap (m-cap) stock could emerge by 2032. Reliance Industries , HDFC Bank , Bajaj Finance are amongst the top contenders that could reach $1 trillion market value by 2032 as per ICICI Securities. The macro framework for any company reaching the $1 trillion market value is based on the assumption of reaching peak corporate profitability (7% ‘net profit to GDP" ratio) in the listed space driven by gradual advancement towards peak GDP growth of 9%.

YES Bank share price jumped over 6 per cent to hit its fresh 52-week high of ₹26.25 in intraday trade on NSE on Tuesday, January 16. YES Bank share price opened at ₹24.95 against the previous close of ₹24.75 and jumped 6.1 per cent to the level of ₹26.25. Around 12:35 pm, YES Bank shares were 4.44 per cent up at ₹25.85 on the NSE.

Investing.com-- Most Asian currencies retreated on Tuesday, while the dollar advanced as traders remained largely risk-averse before more cues on when the Federal Reserve could begin cutting interest rates.

National Startup Day on January 16, key figures in the startup ecosystem shared insights on the challenges and opportunities for entrepreneurs in India. Startups in India grapple with several challenges, including the critical issues of talent acquisition and retention as they strive to build and scale their teams, said Mahankali Srinivas Rao, CEO of T-Hub, India's leading startup incubator and Startup Odisha, Odisha government's startup vertical.

As the leading global policy makers and thought leaders gather in Davos for the World Economic Forum (WEF) 2024, there is heightened anticipation about the scheduled discussions on critical global issues dealing with the economic, technological and environmental trajectory for the coming years. The WEF’s recent report on the ‘10 Global Risks’ provides a guide for the conversations that will take place at Davos this year. I can see a few key themes that will take centre stage in WEF 2024.

₹5,000 crore worth of 30-year bonds with another similar tranche likely by the end of the month. That will complete the plan to issue ₹20,000 crore worth of sovereign green bonds for the current fiscal year. The government had issued five-year sovereign green bonds worth ₹5,000 crore in November and 10-year paper worth ₹5,000 crore in December.

Salaar Part 1 Ceasefire Box Office Collection Day 25: Despite nearing the end of its theatrical run, Prabhas' action extravaganza Salaar: Cease Fire - Part 1 continued to demonstrate a remarkable collection at the Box Office. According to estimates from Sacnilk, the film raked in an estimated ₹0.35 crore on its 25th day across all languages in India for the Hindi region on January 15. While this marks a dip from its earlier collections, it's a commendable feat, considering the film has been in theatres for nearly four weeks.

Sensex surged 759.49 points, or 1.05%, to end at 73,327.94, while the Nifty 50 ended 202.90 points, or 0.93%, higher at 22,097.45. Nifty 50 formed a reasonable positive candle on the daily chart with gap up opening and with lower shadow. Technically, this pattern indicates confirmation of sharp upside breakout of the important hurdle.

Although artificial intelligence (AI) has been quietly helping us for decades, with progress accelerating, 2023 will be remembered as a ‘big bang’ year. With the advent of generative AI, the technology has broken through in popular consciousness and is shaping public discourse, influencing investment and economic activity, sparking geopolitical competition, and changing human activities from education and healthcare to the arts. Each week brings some new breathtaking development.

interim budget for FY25, from the budget estimate for this year, as it aims to balance the need for sustained growth with fiscal consolidation imperatives, people aware of deliberations said. With the economy continuing to grow at a robust pace, the government is of the view that fiscal consolidation needs greater attention, they said. According to the first advance estimate, India's gross domestic product (GDP) is forecast to grow 7.3% in FY24, bettering the preceding fiscal year's 7.2%. FY24's budget had raised spending by 14.1% over the FY23 budget estimate — to ₹45 lakh crore. FY24 expenditure growth was up 7.5% over the provisional number for the last fiscal year. The Centre will continue quality spending next fiscal by raising capital expenditure, albeit at a slower pace than in recent years, a government official told ET. Muted hike in capex This, while lifting revenue spending at a moderate rate, the official said.