The food giant Zomato has made a stellar debut on the bourses with its shares listing at Rs 116 on the National Stock Exchange (NSE), a 53 per cent premium against its issue price of Rs 76 per share. The stock jumped over its issue price at Rs 115, a 51 per cent jump on BSE. 

A strong listing saw Zomato’s market capitalization (market-cap) cross the Rs 1 Trillion mark and entered into the top 50 most valuable companies on the BSE. At 10:12 am; Zomato stood at 38th position in market-cap rankings on the BSE.

 

On Monday Bitcoin hit a two-week peak just shy of $40,000 (around Rs. 29.2 lakhs), after another weekend reacting to tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold Bitcoin but may resume transactions using it.

Bitcoin has gyrated to Musk’s views for months since Tesla announced a $1.5 billion (around Rs. 10,980 crores) Bitcoin purchase in February and said it would take the cryptocurrency in payment. He later said the electric car maker would not accept Bitcoin due to concerns over how mining the currency requires high energy use and contributes to climate change. Bitcoin price in India stood at 28.7 lakhs at 12pm IST on June 14.

“When there’s confirmation of reasonable (~50 per cent) clean energy usage by miners with the positive future trend, Tesla will resume allowing Bitcoin transactions,” Musk said on Twitter on Sunday.

“The market had been going through another round of correction over the weekend … until Elon Musk’s tweet of accepting BTC again for Tesla purchases changed sentiment,” said Bobby Ong, co-founder of crypto analytics website CoinGecko.

He said the market was also supported by the software company and major Bitcoin-backer MicroStrategy raising half a billion dollars to buy Bitcoin.

Musk’s tweet was made in response to an article based on remarks from Magda Wierzycka, head of cybersecurity firm Syria, who in a radio interview last week accused him of “price manipulation” and selling a “big part” of his exposure.

“This is inaccurate,” Musk said. “Tesla only sold ~10 per cent of holdings to confirm BTC could be liquidated easily without moving market.”

Musk had tweeted in May that Tesla “will not be selling any Bitcoin” and “has not sold any Bitcoin,” but investors are keenly awaiting Tesla’s next earnings update – due next month – for any disclosure of changes to its position.

Musk has taken issue with the vast computing power needed to process Bitcoin transactions and in early June posted messages appearing to lament a breakup with Bitcoin.

Other cryptocurrencies were steady after weekend gains, with ether at $2,491 (around Rs. 1.8 lakhs) and one-time Musk darling Dogecoin buying about 32 US cents (around Rs. 20) on crypto exchange Binance. And Dogecoin price in India stood at Rs. 23.78 at 12:30 pm IST on June 14, 2021.

The SDG is meant to be a comprehensive,  planned approach to complex problems of sustainable development at a worldwide level. But when challenged with an undertaking such as, companies may struggle with where to begin. Trying to cover it all would be operationally enormous and a waste of resources.

Some aims may be too broad or too remote. For example, “no poverty” is easy to write off as too far to bring out from a company’s business and value chain. While breadth is integrity for a public policy audience, managers need ways to prioritize and aim resources.

• Segment the SDGs. 

First, segment the SDG fitting to your business in the market in such a way that helps start a ranking and captures some of the logic about which ones are most fitting to your business. One way to do this is to arrange the DGs into three main aim areas: people, planet, and policy principles. It’s useful to illuminate which goals are end-state goals and which are between goals designed to get to bigger goals.

• Identify where the business fits. 

The next step involves recognizing which goals interconnect with some part of the company or its value chain’s activities. These are places where the business can have a meaningful effect and that can, in turn, have the widest and deepest effect in the biggest society. 

For example, the Coca-Cola Company operates near three areas: water, women, and well-being. Agribusiness Olam officially states zero hunger as its priority, and partnerships the way it would implement its initiatives. 

Some research discloses that it affected clean water, good jobs and economic growth, and innovation and infrastructure as well.

• Make the business. 

At a business level, the interlace of the business case and the case for sustainability is complex. The overall innovators you studied have developed that integrated case and a story about it. For maximum success, it comes from the top of the business.

In 2017 it is vital for a much bigger swath of business to recognize the union of business  durability with sustainable development, as the private sector is called upon to fill an invalid gap created by the public sector’s retreat on broad, long-term global goals. It is equally critical to not permit the complexity and comprehensiveness of the goals to become a deterrent to a corporate action.

Given that the SDGs give a powerful framework for companies to mobilize, arrange both internally and with partners, and take action, the first step is to stop trying to visualize the entire SDG framework, and frame it as a ranking of connected and order goals. 

This helps prioritize and build logic for choice and to integrate the strategy for building a sustainable business with the company’s strategy for engaging in sustainable development. Companies that take this first step can join the league of inclusive innovators.