Sustainability Financial News

coal sector have brought 18,849 hectares under green cover in the last 10 years by planting 42.3 million saplings, the government on Monday said. The move shows the commitment of the coal sector to environment-friendly sustainable mining practices, the coal ministry said in a statement.

Welspun One, an integrated fund and development management platform, has entered into its second Memorandum of Understanding (MoU) with the government of Tamil Nadu to invest over Rs 2,000 crore over the next five years taking its total investment in the southern state to Rs 4,500 crore. This strategic move solidifies the company’s commitment to the state's economic development and follows an earlier agreement for investment of Rs 2,500 crore inked in 2021. The new pact outlines Welspun One's plan to drive the proposed development of industrial and logistics parks that are expected to generate direct employment opportunities for 5,000 people and contribute to the development of ancillary industries, creating indirect employment opportunities for 10,000 people. «Welspun One's ongoing commitment to invest in Tamil Nadu reflects a collaborative spirit and a common resolve to meet all mutually agreed obligations, guided by the facilitation of Guidance, the pivotal agency of the Government of Tamil Nadu for investment promotion,” said Balkrishan Goenka, Chairman, Welspun World. He expressed confidence the collaborations and projects will play a substantial role in shaping the industrial and economic dynamics of the region. “Our first MoU with the Tamil Nadu Government laid a strong foundation, and we are on track with our investments as per the initial agreement. Our focus is on creating sustainable infrastructure, generating employment opportunities, and contributing meaningfully to the state's industrial growth,” said Anshul Singhal, Managing Director, Welspun One. As part of the earlier pact signed with the state government, Welspun One has set up two projects in Tamil Nadu.

DSP Mutual Fund announced the launch of the DSP Multicap Fund, an open-ended equity scheme investing across large-cap, mid-cap, and small-cap stocks. The scheme opened for public subscription on January 08, 2024, and will close on January 22, 2024. This is an open-ended equity scheme investing across large-cap, mid-cap, and small-cap stocks.

₹45,000 crore investment to develop river cruise tourism, aiming to leverage India's inland waterways for economic growth. This investment includes ₹35,000 crore for cruise vessels and ₹10,000 crore for cruise terminal infrastructure by 2047, the ministry said in a statement. The decision, aimed at transforming India's inland waterways into dynamic commercial channels, was taken at the inaugural Inland Waterways Development Council (IWDC) meeting in Kolkata.

Southern Petrochemical Industries Corporation Ltd (SPIC Ltd) on Monday said it will invest Rs 1,900 crore in Tamil Nadu over the next two years following a memorandum signed with the state government as part of the Global Investors Meet (GIM) in Chennai. The investment would be made across SPIC Ltd, Greenstar Fertilizers Ltd, and Tuticorin Alkali Chemicals and Fertilizers Ltd, the company said in a statement.

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In recent years, India’s real estate industry has undergone a remarkable transition, with a particular emphasis on green initiatives and sustainability. The Indian real estate industry has accepted the duty to solve the urgent environmental issues facing the globe and has made great strides in implementing sustainable and eco-friendly methods. Whether it is commercial or residential developments, there is a shift in real estate development towards sustainability due to a number of factors, including increased global awareness, government initiatives, changing consumer behaviour that is more responsible, and the consequent urgency of combating climate change.

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BITS Pilani on Monday formalised a Memorandum of Understanding (MoU) with Gati Shakti Vishwavidyalaya to propel collaborative efforts in curriculum development, research and development, teaching, executive education, joint programmes, faculty training, entrepreneurship, incubation as well as joint conferences and workshops. Prof V. Ramgopal Rao, vice chancellor, BITS Pilani said, “This strategic partnership marks a significant milestone in our commitment to advancing education, research, and innovation.

Chennai: Denmark has announced its Green Fuels Alliance India (GFAI) initiative to boost collaborative efforts between the two countries in the sustainable energy solutions sector and advance their joint global goal towards carbon neutrality. Led by the Danish Embassy and the Consulate General of Denmark in India, the new alliance is a strategic initiative poised to play a pivotal role in advancing the green fuels sector, including green hydrogen, by fostering innovation, collaboration, and partnerships between Danish industries and their counterparts in India. GFAI's primary objective is to promote sustainable energy growth in India by establishing an ecosystem that encourages collaboration among businesses, government entities, research institutions, and financial stakeholders from both the Indian and Danish sectors. Nine pioneering Danish organisations have already committed to the GFAI initiative as founding members, including Maersk, Topsoe, Umwelt Energy, Mash Makes, European Sustainable Solutions, Novozymes, Danfoss, Brdr.

Project managers initiate, execute, and complete projects across various industries using their project management expertise. From mobile apps to the grandiose architecture of international cities, they are the innovators behind some of the most brilliant products, services, and processes that exist today.

Commercial vehicle maker Ashok Leyland on Monday said it sold 1,98, 113 units in the Calendar Year (CY) 2023, surpassing its previous sales record of 1,96,579 units achieved in 2018. This record achievement underscores the company's product versatility and strong market presence, solidifying its position in the segment both in the domestic and international markets, the company said in a statement.

Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu. The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development. The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024.

₹640 on the weekly chart, supported by a strong bullish candle, indicating a positive bias. The stock rebounded to ₹695, experienced a throwback to the breakout zone, and subsequently rallied beyond the swing high of ₹695, signalling the continuation of the uptrend. It is followed by a rising channel formation since mid-April 2023, suggesting a medium-term uptrend.

Buy or sell stocks for today: Despite cautious global market cues, the Indian stock market ended higher after trading range-bound throughout the day on Friday. Nifty 50 index added 52 points and closed at the 21,710 level, and BSE Sensex regained the 72,000 mark by adding 178 points in the last session of the week gone by.

growth in aggregate net profit for the third consecutive three-month period, ETIG estimates for the December quarter showed, although muted performance of technology and consumer-goods companies could decelerate the pace of expansion. Net profit in the December 2023 quarter for the Nifty 50 constituents is expected to climb 15%, compared with 7.6% growth in the year-ago period. To be sure, the year-on-year profit growth was above 25% in each of the two previous quarters, reflecting the base effect. Aggregate revenue is expected to climb 8.5%, compared with the growth of 6.8% and 18.4% in the previous and year-ago quarters, respectively.

MUMBAI : Domestically, the backdrop is that of an impending general election, and, traditionally, an incumbent government cannot present a full Union budget in such a year. Whereas, globally, the setting is that of a debate on debt and sustainability amid falling growth. But that shouldn’t necessarily be the context for the upcoming budget.

Reliance Industries' Mukesh Ambani on Sunday said Tamil Nadu has become one of the most business-friendly states in the country and he believed it would indeed become a trillion-dollar economy in line with the state government's goal of reaching this milestone by 2030. «Reliance is committed to making new investments in Tamil Nadu in renewable energy and green hydrogen,» he said in a virtual address at the inaugural session of the state's two-day Global Investors Meet (GIM) in Chennai. «We shall work closely with the state government to promote sustainable development which is necessary to save Mother Earth from the climate crisis.»

N Biren Singh on Saturday evening air dashed to Guwahati and discussed security and developmental aspects of the northeast with his Assam counterpart Himanta Biswa Sarma. Taking to Facebook, Biren said “It was a pleasure meeting with the Hon’ble Chief Minister of Assam, Shri Himanta Biswa Sarma Ji, at his official residence in Guwahati today.” “Discussed various matters concerning the security and development of the North East region.

development under the union government is to ensure that it reaches the farthest and the most vulnerable sections of the population, Union Minister for Housing and Urban Affairs Hardeep Singh Puri said on Sunday. Addressing a press conference as part of the ongoing Viksit Bharat Sankalp Yatra (VBSY), Puri said that citizens benefit directly from it. He added that various schemes are formulated and are being implemented, giving priority to women.

SAN ANTONIO—The good news: the U.S. is headed for growth this year, not recession. The bad news: there is as yet little prospect growth will be any better than before the pandemic.