ENERGY CONSERVATION
Who are the main players in the UK's upcoming national election?
Prime Minister Rishi Sunak's Conservatives are widely expected to lose to the main opposition party, the left-of-center Labour, after 14 years in power under five different prime ministers. The Conservatives and Labour traditionally dominate British politics under the U.K.'s "first past the post" electoral system, which makes it difficult for smaller parties to win representation in Parliament.
Ireda sanctions Rs 37,354 cr loan in FY24
State-owned Ireda sanctioned Rs 37,354 crore loan and disbursed Rs 25,089 crore in FY24, CMD PK Das announced. The net worth was Rs 8,559 crore by March quarter end.
India shows interest in mega Teesta river conservation project
A major focus of the talks between the two prime ministers was to explore ways to shore up India-Bangladesh cooperation in digital and energy connectivity even as both sides resolved to work towards peaceful management of borders between the two countries.
How to create a successful green career: Read what experienced professionals have to say
The green industry is booming with opportunities for young professionals seeking fulfilling careers. Insights from industry experts reveal the motivations behind choosing green roles, the evolving scope of sustainability positions, educational requirements, salary expectations, and challenges faced in navigating this dynamic sector.
EESL joins hands with APEPDCL to promote energy efficiency, conservation
EESL partners with APEPDCL for energy efficiency program in Andhra Pradesh, aiming to raise consumer awareness and provide energy-efficient solutions.
UK inflation falls to Bank of England's 2% target rate for first time in nearly 3 years
Inflation in the U.K. has returned to the Bank of England's target rate of 2% after nearly three years. The official figures showed a decrease from 2.3% to 2% in the year to May, mainly driven by lower food prices. The governing Conservative Party views this as evidence of their successful economic plan ahead of the July 4 election. The opposition Labour Party highlighted concerns over rising mortgage rates and high taxes. Despite the decline, the Bank of England is unlikely to cut interest rates from 5.25%.
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As unrelenting heat wave makes power demand spike, utilities told to be on high alert
The ministry's statement highlighted that the northern region has faced high electricity demand since May 17, 2024, due to the heatwave. Despite these tough conditions, the highest-ever peak demand of 89 GW in the northern region was successfully met on June 17, 2024.
DERC releases draft regulation for green power obligations on discoms
The DERC has issued draft regulations mandating a 29.91% green energy purchase for stakeholders in 2024. RPOs require electricity distribution licensees to buy energy from renewable sources.
Chinese premier promises more pandas and urges Australia to put aside differences
Li visited Adelaide Zoo, which has been home to China-born giant pandas Wang Wang and Fu Ni since 2009, before he was to have lunch at a restaurant at an Adelaide winery.
Auto emission norms to get stricter, make cars costlier
India's automakers face stricter carbon emissions norms, requiring a 30% reduction over three years or penalties. The Bureau of Energy Efficiency (BEE) proposed CAFE 3 norms effective from April 2027, with CAFE 4 norms following. CAFE 3 aims for 91.7 gm CO2/km and CAFE 4 for 70 gm CO2/km. Automakers get a five-year transition to CAFE 4, but compliance challenges remain, including pricing affordable low-emission vehicles. Penalties for non-compliance are stiff, encouraging more fuel-efficient cars.
UK's Rishi Sunak offers more tax cuts as election polls refuse to budge
With his Conservative Party consistently about 20 points behind Keir Starmer's opposition Labour in the polls, Sunak made a new appeal on Tuesday to what one Conservative lawmaker described as Britain's carpenters, bricklayers and electricians, by promising further tax cuts if they give him their vote.
Millions will vote on Europe's super Sunday, with surveys suggesting a shift to the right
Voters across 20 European nations are casting their ballots in the EU election super Sunday, with concerns over a potential shift to the political right impacting the bloc's decision-making amidst ongoing conflicts and rising anti-migrant sentiment. Populist parties are expected to make gains, potentially reshaping the European Parliament's dynamics. The elections mark a pivotal moment for the EU's future trajectory and international relationships.
Maruti Suzuki to invest Rs 450 crore over the next 3 years on renewable energy initiatives
Maruti Suzuki India plans to invest Rs450 crore in renewable energy initiatives like solar power and biogas over the next three years. The company has commenced production at its biogas plant at its Manesar facility by harnessing food waste and Napier grass resources.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies posted a record 45 per cent rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24 as the apples-to-airport conglomerate made a massive comeback, the group said on Sunday.
Adani portfolio delivers record 45% EBITDA growth in FY24
Adani Group companies saw a record 45% rise in pre-tax profit (EBITDA) to Rs 82,917 crore (about USD 10 billion) in FY24, marking a massive comeback for the apples-to-airport conglomerate. The group focused on containing debt, reducing founder share pledge, and consolidating the business in core competencies. The five-year compound annual growth rate for profit growth was 54%.
Defence stocks: Long runway, hedge a bit to avoid narrative-based decisions; 8 PSU & Pvt sector stocks, 4 with upside potential of upto 44%
In an election season, there are bound to be times when one or the other narrative may make one question about whether one should sell the stocks. The underlying reason would be fear of losing the gains on which one is sitting. Especially when it comes to sectors like defence, railways and others which have seen a strong re-rating and siting with big gains and already there has been skepticism about their stock price moving ahead of time. Now let's look at the issue in two ways, first is whether the fundamentals of the sector are on a strong foot and business is fine or not. Second, how to hedge the exposure so that one is not forced to sell due to narrative, because the fact is that a continuation in policy push means that the companies have just started their journey. While defence PSUs are well known, there are other private sector players, whose lifeline is dependent on defence expenditure and in the last few years they have also done well, both on the street and in terms of real business. So, it is better that one should hedge and stay with them and not get jittery because of one or the other narrative which will keep hitting the street till 4th June.
Candidates of strong directional move on 4th June: 5 PSU stocks which have benefited the most due to government policy push and spending
In the last two years, it is a well known fact that every PSU stock has been re-rated by the street, right from perennial under-performers like oil marketing and refining oil companies to PSU banks. But if one looks a bit deeper there are some which have been re-rated more than others. The reason, these are PSUs which are from the sectors where the government has clearly decided are its priority areas and there has been a policy push for these sectors. A company which is going to be providing finance for the expansion of the solar energy network which is the next focus of the government. The overall demand runway for these sectors is longer which means overall growth will be higher when confirmation of policy continuity comes. Also they are in business where it would be difficult for the private sector to compete. Now because it is the policy push which matters, the continuity of tailwinds of higher government spending, will push them for another round of re-rating on the result day.
How Rishi Sunak's small circle forged vote plan that shocked cabinet
Chancellor of the Exchequer Jeremy Hunt was among those caught unaware. Foreign Secretary David Cameron, who'd had to cancel a visit to Albania just to make the meeting in Downing Street, expressed surprise, but said the decision "seizes the initiative, sets the agenda and forces the choice," according to people familiar with the conversation.
UK General Election 2024: Why will Labour Party's Jeremy Corbyn contest as an independent candidate? Details here
Jeremy Corbyn has announced his candidature as an independent candidate from Islington North. He has been contesting from this constituency for the past 40 years.
ICICI Securities initiates coverage on Bharti Hexacom, calls it the ‘little giant’
The brokerage has set a target price of Rs 1,075 for the stock. Bharti Airtel continues to be its chosen pick. ICICI Securities has assigned a 15% premium to Bharti India’s valuations. It stands by its hypothesis of ‘small, but beautiful’ for BHL.
'I'm with you, every step': Akshata Murty's pep talk for Rishi Sunak after his big election gamble
Akshata Murty expresses support for husband Rishi Sunak ahead of UK general elections. She shares candid photos with the Prime Minister. Sunak has called for early elections, despite his party trailing the Labour in opinion polls.
... Admits Ireda's insolvency petition against Shri Saikrupa Sugar
NCLT ordered management transfer to IRP/RP for Shri Saikrupa Sugar during CIRP. Ireda sanctioned a loan of Rs 121 crore in 2012, leading to the insolvency resolution process.
UK's Graduate Visa programs may stay, but Sunak plans crackdown on foreign education agents
UK Prime Minister Rishi Sunak is set to announce crackdown on agents marketing graduate visa schemes overseas, aiming to toughen migration stance before elections.
Bengaluru's civic body BBMP invites proposals from corporates for reviving 185 lakes over next four years
BBMP plans to rejuvenate 185 lakes in Bengaluru within 4 years, facing challenges like encroachment and sewage inflow. The comprehensive plan involves BCIC and awaits High Court approval for the Community Involvement Lake Conservation Policy 2024.
IREDA incorporates subsidiary in GIFT City, Gujarat
Pradip Kumar Das, Chairman & Managing Director of IREDA, said, "This subsidiary not only positions IREDA to extend its global reach but also acts as an offshore platform for securing competitive funding to drive the renewable energy sector's growth." He added that IREDA's entry into the IFSC is anticipated to unlock fresh business prospects and establish its global footprint in the renewable energy sector.
Australia unveils plans to keep burning gas beyond 2050
Australia plans to continue using natural gas beyond 2050 while aiming for net zero emissions. The strategy faces criticism from environmental groups, citing it as a 'climate disaster' and 'fossil fuel disaster' impacting the environment negatively.
Why CSIR scientists are turning up at work in wrinkled clothes every Monday
By going to office in unironed clothes one day every week, scientists at CSIR seek to iron out the glitches in the big climate fight plan by contributing to India's energy conservation efforts.
Green is the new gold: Investors flock to sustainable opportunities in 2024
India is making significant strides towards sustainable development through regulatory mandates like the Energy Conservation (Amendment) Bill 2022 and BRSR, unleashing investment opportunities for Indian businessmen and investors.
NTPC signs pact with Japanese agency for USD 200 million loan
NTPC secures USD 200 million loan from a Japanese agency, with JBIC funding 60% for NTPC and NREL projects in India. The funds will be used for FGD capex, reducing SOx emissions, and promoting environmental sustainability.
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