Tata Group said on Saturday that it plans to transition to 70 per cent renewable energy by the end of the decade. Addressing the XLRI-Xavier School of Management convocation in Jamshedpur, N Chandrasekaran, Chairman, Tata Sons, said, “Nation-building impulse is as relevant now as it was earlier. There are major energy transitions, digital transitions in the form of AI and machine learning, and supply chain transitions that we are facing today. But, India is uniquely placed because we can invest in each of these transitions today because of the geopolitical advantages that our country has. By 2030, the Tata Group will move to 70 per cent green energy.”
Background
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Investors will be clocking movements in macroeconomic indicators globally. The quarterly GDP data for the US is scheduled to be released in the latter half of the week on Thursday. Notably, the second estimate revealed that the American economy grew at a rate of 3.2 per cent in the October-December quarter in 2023, against advance estimates of growth of 3.3 per cent.
US Federal Reserve Chair Jerome Powell is set to deliver his speech on March 29 and the dialogue will focus on interest rate cuts and inflation outlook. Further, other data such as new home sales, durable goods orders, personal income and spending numbers, etc will also be released in the week.
The Bank of Japan will also release its monetary policy meeting minutes in the week, along with the unemployment data and retail sales figures. The final GDP growth number for the United Kingdom will also be shared towards the end of the week.
Domestically, investors will keenly be on the lookout for economic data such as current account and external debt numbers for the third quarter of the current fiscal year, to be released on Thursday.
Fiscal deficit and infrastructure output data for February will also be revealed in the week. The foreign exchange reserves data for the week ended March 22 will be out on March 29.
Further, fiscal deficit and infrastructure output data for February, and foreign exchange reserves for the week ended March 22 will be released on March 29.
Foreign institutional investors dumped Indian equities worth Rs 8,365.53 crore in the week ended March 22, 2024, however, domestic institutional investors (DIIs) bought shares worth Rs 19,351.62 crore during the period.