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New Delhi, Chemicals maker <keyword id="10487971" type="General" weightage="20" keywordseo="Anupam-Rasayan" source="Orion">Anupam Rasayan</keyword> India Ltd on Tuesday posted a marginal increase of 1.84 per cent in consolidated net profit at Rs 48.69 crore in the second quarter of the current fiscal year. The company's net profit stood at 47.81 crore in the same quarter of the previous year, according to a regulatory filing. Total income rose to Rs 395.61 crore during the July-September quarter of the 2023-24 fiscal, from Rs 383.14 crore in the year-ago period. Expenses remained slightly higher at Rs 324.94 crore in the period under review, as against Rs 315.72 crore in the said period. "Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth," said Anupam Rasayan Managing Director Anand Desai. In the first half of the current fiscal, total revenue rose to Rs 794.4 crore, reflecting a robust year-over-year growth of 11 per cent. Our strong margins at 28 per cent for the first half this year are a testament to the company's unique business model, he said. During this quarter, the company launched three new molecules, bringing the total to five by the end of H1 of the 2023-24 fiscal, he said, adding "we will launch an additional five molecules by the close of FY24." Desai further said, "we are seeing a resurgence in demand, which instills confidence of delivering growth in coming quarters. This bolsters our confidence in achieving consistent growth and maintaining our margin profile." The company has also signed three memorandum of understanding (MoUs) with the Gujarat government for afforestation in a bid to balance carbon emissions and achieve energy neutrality by 2027. Anupam Rasayan said the board has approved issuance of 19.04 lakh equity shares on a preferential basis to promoters and 39.14 lakh convertible warrants on preferential basis to non-promoters. The Gujarat-based company has a manufacturing capacity of 27,200 tonnes spread over six facilities.

Anupam Rasayan Q2 net profit up 1.84% to Rs 48.69 cr

<ul><li>Healthtech startup <keyword id="10704064" type="General" weightage="100" keywordseo="padcare" source="Orion">PadCare</keyword> bagged a joint deal from four sharks on Shark Tank India at ₹1 crore for 4% equity. </li><li>One sanitary <keyword id="791337" type="General" weightage="50" keywordseo="napkin" source="Orion">napkin</keyword> takes 500 to 800 years to decompose and 98% of sanitary napkins go into landfills and water bodies, claims the founder. </li><li>PadCare, which works to create a menstrual hygiene management ecosystem, offers three products- <keyword id="16342957" type="General" weightage="50" keywordseo="padcare-bin" source="Orion">PadCare bin</keyword>, PadCare X and PadCare Vend. </li><li>The startup’s PadCare bins’ clients include Facebook, Capgemini and Goldman Sachs. </li></ul><keyword id="16342956" type="General" weightage="50" keywordseo="rekha-dhariya" source="Orion">Rekha Dhariya</keyword>, a mother from Mhasla, a small village in Maharashtra, did not neglect her eight-year-old son Ajinkya’s question about what a sanitary napkin was, after he had watched a television ad. The boy went on to found PadCare Labs- a startup that develops sustainable sanitary disposal technologies. On the business reality show Shark Tank India Season 2, PadCare bagged a joint deal from four sharks – securing ₹1 crore for 4% equity. <keyword id="544908" type="General" weightage="50" keywordseo="namita-thapar" source="Orion">Namita Thapar</keyword> (executive director, Emcure Pharmaceuticals),<a href="https://indianexpress.com/article/entertainment/television/shark-tank-india-2-peyush-bansal-floored-by-broomees-founders-video-8415980/"> Peyush Bansal</a> (co-founder, CEO Lenskart), <keyword id="246967" type="General" weightage="50" keywordseo="vineeta-singh" source="Orion">Vineeta Singh</keyword> (co-founder, CEO of Sugar Cosmetics) and <keyword id="127971" type="General" weightage="50" keywordseo="anupam-mittal" source="Orion">Anupam Mittal</keyword> (co-founder of Shaadi.com) were the sharks who invested in the startup. “One sanitary napkin takes 500 to 800 years to decompose and 98% of sanitary napkins go into landfills and water bodies. They are also burnt at 800 degrees with a process called incineration, producing hazardous waste, toxic smell and smoke,” said 26-year-old <keyword id="16342958" type="General" weightage="50" keywordseo="ajinkya-dhariya" source="Orion">Ajinkya Dhariya</keyword> on Shark Tank India. Earlier while working for ISRO as an R&amp;D engineer, Dhariya visited a landfill in Pune, and saw rag pickers picking up sanitary waste and diapers with their bare hands. This is how healthtech startup PadCare was born. “A woman spends 5 days a month and approximately five to six years of her life experiencing a menstrual cycle. She consumes over 7,500 sanitary napkins in a lifetime. Our rag pickers pick these up with their bare hands. But in embarrassment, in villages, these are either buried or burned. 1,200 crore sanitary napkins are used every year in India,” Dhariya, who is also the CEO of PadCare. To solve this, Padcare offers three products – PadCare bin (stores hazardous waste for 30 days without bacterial growth or smell), PadCare X (recycles 15,000 sanitary napkins into wood pulp and high quality plastics) and PadCare Vend (a sanitary napkin vending machine). The Padcare bin is also India’s first 5D-technology-based patented sanitary napkin disposal and recycling system, the founder said. “The wood pulp and plastic is sold in the market to paper and packaging industries. These can be converted into creating a PadCare bin as well,” he added. Scaling Padcare across India With the help of earlier clients State Bank of India and Praj Industries, PadCare installed 3 PadCare bins in the beginning. Today, the company has 150 clients including Facebook, Capgemini and Goldman Sachs and has installed over 5,500 PadCare bins. PadCare is currently present in 6 cities across over 100 organisations and its products are being used by 1 lakh women, conserving 15 metric tons of carbon emissions, as per Dhariya. US, Canada, Singapore and African countries have expressed interest in using PadCare products, he said. The startup was also supported by Tata Trust, Infosys Foundation and additionally received a ₹2.25 crore government grant to develop the PadCare X machine. In FY22, the startup had sales of ₹1.05 crore. Dhariya was part of the <a href="https://www.forbes.com/profile/ajinkya-dhariya/?sh=5851d146717c">Forbes</a> Asia 30 under 30 list under healthcare and science category in 2021. However, the journey to create a sanitary disposal system, especially by a man, is not a common sight and Dhariya faced a lot of ridicule. But his family became his support system. “Sanitary pads were needed everyday for research. I thought I would have to seek the help of my friends. He is my brother so I gave him my pads. Ajinkya is a brother to all the women out there,” Aishwarya Mapara, Dhariya’s sister said. Moved by the social cause Dhariya was tackling, Lenskart’s Bansal offered a blank cheque to Dhariya. “He is the Padman of 2022,” said shark Aman Gupta referring to the Bollywood movie Padman and its lead character played by Akshay Kumar, who resolves to address social stigma associated with menstrual hygiene. Kumar’s character is based on real-life hero Arunachalam Muruganantham, a social entrepreneur and the inventor of a low-cost sanitary pad-making machine. While Dhariya’s ask was ₹50 lakh for 2% equity at valuation of ₹25 crore, he ended up getting ₹1 crore for 4% equity, for the same valuation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/marico-q3-net-profit-falls-5-to-333-cr-revenue-up-2-6-to-2470-cr/articleshow/97581307.cms">Marico Q3 net profit falls 5% to ₹333 cr, revenue up 2.6% to ₹2,470 cr</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mens-apparel-brand-snitch-sews-all-sharks-together-gives-king-of-bling-anupam-mittal-his-own-fashion-line/articleshow/97576836.cms">Men’s apparel brand Snitch sews all sharks together – Gives ‘King of Bling’ Anupam Mittal his own fashion line</a>

‘Padman of 2022’: Shark Peyush Bansal offers founder of women’s hygiene startup PadCare a blank cheque

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="100" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> are likely to open in the green on Friday amid positive global cues. </li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today. </li><li><keyword id="118623" type="General" weightage="20" keywordseo="adani-enterprises" source="Orion">Adani Enterprises</keyword>, <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> are amongst stocks in focus on Friday. </li></ul>India’s benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 are likely to open in the green on Friday amid positive global cues. SGX Nifty, an early indicator of how the markets may perform, was up 62 points, or 0.34% early in the morning today. Earlier on Wednesday, Sensex and Nifty50 both experienced heavy selling – while Sensex declined 1.27%, Nifty50 fell 1.25% and closed below the 18,000 level. The markets were closed on Thursday, January 26, on account of Republic Day. The Indian rupee was closed nearly flat against the US dollar on Wednesday, down 2 paise to end at 81.65. Crude oil prices edged up to $87.55 per barrel on Friday morning, up 0.31%. <cmsannotation type="cmsannotation" annotationid="US markets experience choppy trading ahead of next week’s US Fed meeting" comment="subhead" text="US markets experience choppy trading ahead of next week’s US Fed meeting">US markets experience choppy trading ahead of next week’s US Fed meeting</cmsannotation> Markets in the US witnessed choppy trading on Thursday as investors started gearing up for next week’s US Fed meeting. Despite the volatility, the S&amp;P 500 index closed at its highest level in a month, ending 1.1% up. The Dow Jones Industrial Average gained 0.61%, while the tech-heavy Nasdaq rallied 1.76%. In Asia, markets were in the green on Friday, led by Korea’s KOSPI which was up 0.9%, followed by Straits Times which gained 0.4%. The Hang Seng index was flat, up by 0.01%, while the Nikkei 225 index gained 0.07% on Friday. The Shanghai Composite index was closed on account of the Lunar New Year holiday. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Adani Enterprises: The Adani Enterprises’ ₹20,000 crore follow-on public offer (FPO) will go live today, with a price band of ₹3,112-3,276 per share. The company has raised ₹5,985 crore from anchor investors. The FPO will be open for subscription from January 27 to January 31. Tata Motors: The automaker reported its first consolidated net profit after seven quarters. Its consolidated net profit stood at ₹2,958 crore in Q3 on the back of strong domestic sales as well as a rebound in JLR sales. Its consolidated revenue grew 22.5% year-on-year to ₹88,489 crore. Bharti Airtel: The telco has increased the prices of its cheapest plan by 57% in seven circles as it looks to boost its average revenue per user (ARPU). Future Retail: Kishore Biyani, the founder of Future Group has resigned as the company’s executive chairman and director. Earnings today: Bajaj Finance, Vedanta, Aarti Drugs, Anupam Rasayan India, Aditya Birla Sun Life AMC, Sterlite Technologies, Glenmark Life Sciences, among others. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tata-motors-in-top-gear-reports-net-profit-of-2958-crore-in-q3-its-first-after-seven-quarters/articleshow/97319081.cms">Tata Motors In Top Gear: Reports net profit of ₹2,958 crore in Q3, its first after seven quarters</a> <a href="https://www.businessinsider.in/stock-market/news/equity-markets-have-usually-been-nervous-ahead-of-budget-but-a-relief-rally-is-likely-post-budget/articleshow/97286146.cms">Equity markets have usually been ‘nervous’ ahead of budget but a relief rally is likely post budget, say analysts</a> <a href="https://www.businessinsider.in/business/corporates/news/maruti-suzukis-q3-net-profit-zooms-133-to-2351-crore-on-lower-input-costs/articleshow/97275909.cms">Maruti Suzuki’s Q3 net profit zooms 133% to ₹2,351 crore on lower input costs</a>

Sensex, Nifty50 likely to open on a positive note amid positive global cues: Adani Enterprises, Tata Motors, Bajaj Finance among stocks in focus

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> edged lower in morning trade on Wednesday amid jittery markets worldwide. </li><li>PSU bank and IT stocks declined in morning trade amid jitters in the US banking sector. </li><li>Both the indices were down 0.3%, with Sensex trading at 61,154 points and Nifty50 at 18,088 points. </li></ul>India’s benchmark indices Sensex and Nifty50 edged lower in morning trade on Wednesday amid jittery markets worldwide. PSU bank and IT stocks declined in morning trade amid jitters in the US banking sector. Both the indices were down 0.3%, with Sensex trading at 61,154 points and Nifty50 at 18,088 points. The top five active stocks were all heavyweights, including HDFC Bank, Reliance Industries, TCS, among others. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.12% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco Industries </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.65% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.77% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.75% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.62% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Britannia </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.09% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.61% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Finance </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr></tbody></table> Source: NSE, as on May 3, 2023 Earlier on Tuesday, Sensex closed 0.4% higher while Nifty50 gained 0.46% led by energy, metal and IT stocks. Gold prices spiked amid mounting growth concerns around the world. Gold gained 1.41% to cross the ₹60,000 level once again to close at ₹60,605 per 10 grams. On the other hand, crude oil prices fell sharply, with Brent crude hovering around $75.5 per barrel, down from the $79 levels. The US Fed’s FOMC is also expected to announce a 25 basis point rate hike this week. <cmsannotation type="cmsannotation" annotationid="Global markets feel the jitters" comment="subhead" text="Global markets feel the jitters">Global markets feel the jitters</cmsannotation> Mounting risks of a contagion in the US’ regional banking sector has made investors jittery – two banks, PacWest Bancorp and Western Alliance both fell by over 25% on Tuesday. The sell-off was visible in the wider markets as well, with Dow Jones falling by 1.1% while S&amp;P 500 was down 1.2%. The tech-heavy Nasdaq fell 1.1%. Asian markets were largely in the red, with Hang Seng falling the most at 1.6%, followed by KOSPI which was down 0.9%. Taiwan Weighted fell 0.5%, while Nikkei 225 rose 0.1%. The Shanghai Composite, on the other hand, was up 1.1%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> <keyword id="6357147" type="General" weightage="20" keywordseo="tata-steel" source="Orion">Tata Steel</keyword>: The Tata Group company reported 84% on year decline in consolidated net profit at ₹1,566 crore in March quarter while revenue from operations dropped 9.2% to ₹62,961 crore. <keyword id="105382" type="General" weightage="20" keywordseo="ambuja-cements" source="Orion">Ambuja Cements</keyword>: The cement manufacturer reported a standalone net profit of ₹502 crore in the March quarter, seeing an increase of 1.6% YoY, with restructuring costs impacting the profitability. Revenue grew 8.4% YoY to ₹4,256 crore, while volumes grew 8% during the quarter. Bharti <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword>: The telecom operator has merged its operations of Bharti Airtel Lanka with Dialog, a subsidiary of Malaysian multinational telecommunications conglomerate Axiata Group Berhad. The move will give the company a larger user base in Sri Lanka. Fino Payments Bank: The company has reported 25% growth in March quarter net profit at ₹22 crore while total income rose 13% to ₹323 crore. Earnings today: Titan, Adani Wilmar, Bajaj Consumer Care, Godrej Properties, Tata Chemicals, MRF, ABB India, Havells India, Jyothy Labs, KEC International, Sula Vineyards, Anupam Rasayan are among companies to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/silver-may-offer-an-attractive-investment-option-as-china-reopens/articleshow/99944101.cms">Silver on an upswing – The metal may offer an attractive investment option as China reopens</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-total-gas-reports-8-rise-in-fy23-net-profit-to-546-croreannounces-plans-to-expand-ev-charging-points-to-3000/articleshow/99936234.cms">Adani Total Gas reports 8% rise in FY23 net profit to ₹546 crore,announces plans to expand EV charging points to 3,000</a>

Sensex, Nifty50 edge lower in morning trade as PSU bank and IT stocks fall

<ul><li>Indian benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> are likely to open in the green on Monday amid mixed global cues.</li><li><keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the markets may perform, was down 0.08% or 14 points early in the morning today.</li><li><keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>, ITC, Vodafone Idea are amongst the stocks in focus on Monday.</li></ul>Indian benchmark indices Sensex and <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword>50 are likely to open in the green on Monday amid mixed global cues. SGX Nifty, an early indicator of how the markets may perform, was down 0.08% or 14 points early in the morning today. Earlier on Friday, both the benchmark indices closed in the green led by financial services and auto stocks, capping off a week of volatile movements. While the 30-stock Sensex closes 2.42% up in the last week, the 50-stock Nifty50 gained 1%. “Indian markets could open flat, in line with mixed Asian markets today and despite lower US markets on Friday,” said Deepak Jasani, head of retail research at HDFC securities. Global markets tumble on strong jobs data in the US Markets in the US and Asia tumbled on strong jobs and other economic data in the US. Heightened geopolitical concerns between the US and China also made markets in Asia jittery, after the US downed an alleged Chinese spy balloon. Strong jobs data in the US sparked concerns of interest rate hikes by the Fed. The Dow Jones Industrial Average declined 0.38%, while the S&amp;P 500 declined 1.04%. The tech-heavy Nasdaq declined 1.59%. In Asia, markets declined amid concerns of rate hikes continuing further amid strong jobs data in the US and elsewhere. While the Hang Seng index declined 2%, the Taiwan Weighted index fell 1.08% and Shanghai Composite was down 0.6%. On the other hand, Nikkei 225 was up 1.07%. <keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword> State Bank of India: The lender reported 68% on year surge in net profit for December quarter at ₹14,205 crore owing to lower provisions and higher interest income. It is the bank’s highest ever quarterly net profit. ITC: The FMCG to cigarette conglomerate reported 21% on year rise in net profit to ₹5,031 crore for December quarter while revenue rose 2.3% to ₹16,226 crore aided by cigarettes, FMCG, hotels and paper segments. Meanwhile, operating margin expanded 620 basis points from last year. Vodafone Idea: The centre has approved the conversion of the telecom operator’s dues linked to interest on spectrum and adjusted grow revenue (ADR) worth ₹16,133 crore into equity. With this, the government owns 35.8% stake in the company becoming the largest shareholder. Adani Enterprises, Adani Ports, Ambuja Cements: NSE and BSE have put all three companies under its short term additional surveillance measure frameworks from today February 6. Tata Power: The company reported 91% on year growth in consolidated net profit at ₹1,052 crore for December quarter while revenue grew 30% on year to ₹14,339 crore. One 97 Communications (Paytm): The fintech company narrowed its net loss to ₹392 crore as against ₹778 crore last year while revenue grew 42% on year to ₹2,062 crore for December quarter. InterGlobe Aviation: After three consecutive loss making quarters, Indigo's profit has risen to ₹1,422 crore for Q3 FY23 as against ₹129 crore last year. Earnings today: Tata Steel, Adani Transmission, LIC Housing Finance, Easy Trip Planners, Infibeam Avenues, Suven Pharmaceuticals, JK Paper, among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adanis-stock-rout-can-impact-its-ability-to-raise-capital-or-refinance-debt-says-moodys/articleshow/97582403.cms">Adani’s stock rout can impact its ability to raise capital or refinance debt, says Moody’s</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mens-apparel-brand-snitch-sews-all-sharks-together-gives-king-of-bling-anupam-mittal-his-own-fashion-line/articleshow/97576836.cms">Men’s apparel brand Snitch sews all sharks together – Gives ‘King of Bling’ Anupam Mittal his own fashion line</a>

Sensex, Nifty50 likely to open lower amid mixed global cues: SBI, ITC, Vodafone Idea among stocks in focus

<ul><li>The divergence between the richest of the rich and the poorest of the poor is increasing world over but it’s particularly pronounced in India. </li><li>Inequality can impact the sense of community and common purpose influence how a common pool of resources — like the planet as a whole — is managed. </li><li>Interventions that ignore the linkage between nature and culture can further reinforce the poverty trap. </li></ul>Rising inequality is a barrier in the fight against <keyword id="6361617" type="UNKNOWN" weightage="20" keywordseo="climate-change">climate change</keyword>. It can impact everything from policy to investments to actual on-ground implementation, according to rhe <a href="https://link.springer.com/article/10.1007/s13280-021-01544-8">State of the Planet</a> report India is ranked among the top 10 performing countries on the <a href="http://www.indiaenvironmentportal.org.in/files/file/CCPI-2021-Results.pdf">Climate Change Index</a>. The country’s Prime Minister, <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>, has also been lauded for initiating the <a href="https://www.businessinsider.in/india-to-raise-non-fossil-fuel-target-to-450-gw-pm-modi/articleshow/71264791.cms">International Solar Alliance</a> — a collection of 121 countries working towards increasing the consumption of solar energy to drive down dependence on fossil fuels. The Modi administration has also been pushing for the use of <keyword id="6360114" type="UNKNOWN" weightage="20" keywordseo="lpg">LPG</keyword> cylinders among the poor with its Pradhan Mantri Ujjwala Yojana to replace coal burning. <div type="image" title="cylinder_edited" msid="81667237" hostid="261" caption="&amp;lt;p&amp;gt;LPG cylinders&amp;lt;/p&amp;gt;"></div> While the intention behind these moves is commendable, implementation is key. The use of LPG cylinders, for instance, has been <a href="https://scroll.in/article/988886/india-s-poor-were-struggling-to-refill-lpg-cylinders-now-with-record-price-hike-many-have-given-up">plagued</a> by the increasing <keyword id="10985669" type="UNKNOWN" weightage="20" keywordseo="cost-of-gas">cost of gas</keyword> leading users to go back to burning wood and coal. So, billionaires like <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword> can build <a href="https://www.businessinsider.in/india/news/adani-green-wins-worlds-largest-solar-award-entailing-6bn-investment/articleshow/76282284.cms">2,500 acres of solar farms</a>, and ReNew Power can commission 531 gigawatts of wind energy, but none of it matters if people can’t afford it. <div type="image" title="floating solar power_edited" msid="81667198" hostid="261" caption="&amp;lt;p&amp;gt;Two megawatt floating solar plant at Mudasarlova Reservoirunder the Greater Visakhapatnam Smart City Mission &amp;lt;/p&amp;gt;"></div> And, affordability comes from two places⁠ — the cost of using renewable energy and the income of the household. India is trying to curb the first but the income inequality is going from bad to worse. Moreover, the pandemic has only further exacerbated the problem. Inequality in India Inequality can impact the sense of community and common purpose influencing how a common pool of resources — like the planet as a whole — is managed. “Greater inequality can lead to more rapid environmental degradation because low incomes lead to low investment in physical capital and education,” said the report. The divergence between the richest of the rich and the poorest of the poor is increasing the world over but it’s particularly pronounced in India. The top 10% of the Indian population holds 77% of the total national wealth, according to <a href="https://www.oxfam.org/en/india-extreme-inequality-numbers">Oxfam</a>. The non-profit group estimates that it would take nearly a millennium for a minimum wage worker in rural India to what a top executive at a leading Indian garment company earns in a year. <div type="image" title="Screenshot (684)_edited" msid="81666956" hostid="261" caption="&amp;lt;p&amp;gt;The distance between the top 10% and the bottom 50% is growing in India&amp;lt;/p&amp;gt;"></div> As India battles rural distress, the Economic Survey 2018 predictively warned that rising temperatures and poor rains threaten to hurt farmers’ incomes. Arvind Subramanian, the then chief economic advisor, estimated that a one-degree Celsius rise in temperature in a year could lower farmer incomes by about 6% in the Kharif and Rabi seasons in unirrigated districts. And, inequality doesn’t imply income inequality alone. The interconnections between inequality, the biosphere, and global sustainability go beyond the unequal distribution of wealth. When it comes to the environment, distributional, recognitional and procedural inequities also have a role to play. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Types of equity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">What it means </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Distributional equity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">How different groups have access to resources, and how costs, harms, and benefits are shared </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recognitional equity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ongoing struggle for recognition of a diversity of perspectives and groups, e.g. referring to nationality, ethnicity, or gender </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Procedural equity </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">How different groups and perspectives are able to engage in and influence decision-making processes and outcomes </td></tr></tbody></table>Source: ‘Our future in the Anthropocene biosphere’ Here’s an example Every winter, the government of India and the state government in New Delhi finds themselves at loggerheads with the farmers around the national capital region to stop burning stubble but with little result. Until last winter, the farmers’ argument was that there is no incentive for them to stop doing it without realising that the toxic air hurts them and their children a lot more than people who live a few miles away. However, this year, the government has further alienated the farmers of Haryana, Uttar Pradesh and Punjab with its new farm laws. The farmers have argued that the Narendra Modi government did not consult them or take into account their perspective before framing these laws and therefore, they should be repealed. <div type="image" title="stubble burning_edited" msid="81667315" hostid="261" caption="&amp;lt;p&amp;gt;Stubble burning at Khuda Lahora Village in Chandigarh&amp;lt;/p&amp;gt;"></div> If the status of the argument over the new laws remains as it is right now, the issue of stubble burning may not even be up for discussion before winter. The cost of which will be intense damage to the environment and the lungs of the common man. Fighting climate change is not just a regulatory activity. People have to agree with the cause and participate by investing their time, resources and energy. Since greater inequality leads to low investment, it can cause excessive pressure and degradation of natural capital, which — simply put — is the environment. This results in a downward spiral of incomes declining even further and increasing degradation. <div type="image" title="ezgif-4-3fd0bd17e77c" msid="81667092" hostid="261" caption="&amp;lt;p&amp;gt;Examples of pathways of interactions between inequality and the biosphere in intertwined systems of people and nature&amp;lt;/p&amp;gt;"></div> A study <a href="https://www.pnas.org/content/114/21/5401">published in 2017</a>, highlights that climate change is projected to disproportionately influence disadvantaged groups, especially women, girls and indegenous communities. Therefore, interventions that ignore the linkage between nature and culture can further reinforce the poverty trap. Lack of access to basic resources, like fresh water, air to breathe, and food, will only exacerbate the problem of inequality. In India, examples of water shortage, lack of nutrition and clean air have been prevalent for nearly a decade and are only expected to get worse. According to the <a href="https://thewaterproject.org/water-crisis/water-in-crisis-india">Water Project</a>, children in 100 million households across the country lack water and one out of every two kids are malnourished. And, out of the 30 most polluted cities in the world — 21 are in India. Reducing inequality will lead to better policy Effective policy has the potential to not only reduce inequality, but strengthen the planet’s capacity for dealing with extreme events — both climate driven and otherwise. <div type="ExtQuote" text="In this decade we must bend the curves of greenhouse gas emissions and shocking biodiversity loss. This means transforming what we eat and how we farm it, among many other transformations.`" auname="Line Gordon, director of the Stockholm Resilience Centre"></div> The COVID-19 pandemic, for instance, has highlighted the vulnerabilities that currently exist in the system. India’s migrant labour force was seen fighting for its survival amid the lockdown, unable to go home and unable to earn money in urban centres. Reducing inequality will increase trust with societies, according to the State of the Planet report. This trust is integral for governments to make long-term decisions else the poor will be worse off for it. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">You can now buy a Tesla with Bitcoin, tweets Elon Musk</a> <a href="https://www.businessinsider.in/personal-finance/news/everyday-items-may-get-even-more-expensive-indian-homes-should-brace-for-a-rise-in-cost-of-living/articleshow/81667537.cms">Everyday items may get even more expensive ⁠— Indian homes should brace for a rise in cost of living</a>

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Anupam Rasayan Q2 net profit up 1.84% to Rs 48.69 cr

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Sensex, Nifty50 edge lower in morning trade as PSU bank and IT stocks fall

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Sensex, Nifty50 likely to open lower amid mixed global cues: SBI, ITC, Vodafone Idea among stocks in focus

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Inequality is only increasing in India — the resulting lack of trust may make climate change a tougher challenge to tackle

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