COMPANIES ACT 2006
ET Prime Special Series: Multibagger or IBC – Part 84: Can rising demand for decorative features drive this auto ancillary's growth?
A car can change its engine and still look almost the same. It can also keep the same engine and look so different that buyers happily pay more for it. That is the peculiar corner of the automobile industry this story explores. For one listed supplier, the shift to EVs may be less threatening than it sounds. The bigger question is whether changing consumer preferences can help it build a more valuable business.
Premji Invest pumps $35 million into Hical Technologies to expand aerospace, defence manufacturing
Premji Invest has invested $35 million in Bengaluru-based Hical Technologies, marking the aerospace and defence components maker’s first institutional funding in nearly four decades. The company, valued at $300 million-$400 million according to industry sources, will use the capital to expand manufacturing capacity, engineering capabilities and R&D across South India.
FSSAI accuses PepsiCo of ‘duping’ consumers by marketing Sting, Adrenaline Rush as 'energy drinks'
FSSAI has told the Delhi High Court that PepsiCo India deliberately markets its Sting Energy and Adrenaline Rush beverages as energy drinks to mislead consumers, despite the absence of prescribed standards for the category. The regulator has opposed the company's request for a 12-month extension to exhaust existing packaging material, citing public health concerns.
Ramayana star Ravi Dubey chose acting over IT career. How did TV star bag his role in Ranbir Kapoor’s magnum opus? A look at his educational qualifications
During an interview with Galatta Plus, the actor revealed that he went through a formal audition and look test for the role. He also had multiple discussions with director Nitesh Tiwari and producer Namit Malhotra. Describing the opportunity as something beyond one's expectations or prayers, he said he considered himself fortunate to have received it, attributing the opportunity to divine blessings and sheer good luck.
Maharashtra FDA suspends 19 food licences; acts against Patanjali distributor over 'adulteration'
In a recent operation, the Maharashtra FDA suspended licenses of 19 food business operators for violations. They seized food articles worth over Rs 9 crore across multiple divisions in the state. This included significant amounts of Patanjali cow ghee found to be misbranded and adulterated. Further, the FDA registered FIRs, arrested several individuals, and sealed multiple establishments for serious hygiene issues.
Child star in commercials at age 3 to becoming Spider-Man’s Mary Jane: Meet Kirsten Caroline Dunst, the actress who left an indelible mark in films and TV
Kirsten Dunst kicked off her acting adventure at just three years old with commercials and made her big-screen debut at six. She gained widespread recognition for her portrayal of Mary Jane Watson in the iconic Spider-Man series from 2002 to 2007. Honored with multiple awards, including a Golden Globe for her performance in Fargo, Dunst has also faced personal challenges, such as her parents' separation.
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Alvin K. Hellerstein, a federal judge who handled Trump, Maduro and 9/11 cases, dies at 92
Alvin K. Hellerstein, a prominent federal judge in Manhattan, has died at the age of 92. He presided over notable cases involving public figures like Donald Trump and Nicolas Maduro. Judge Hellerstein served on the federal bench for nearly three decades after his appointment by Bill Clinton in 1998. He was remembered for his commitment, empathetic approach, and significant rulings regarding 9/11-related lawsuits.
FSSAI's legal action against Priyagold biscuits for using cattle feed bran, 2 others also in net
FSSAI has initiated legal proceedings against Surya Food & Agro for using cattle feed in its biscuits. Dodla Dairy's milk sample was found substandard due to unsafe substances after laboratory testing. UEIR Organic Foods had pesticide residues in yellow raisins, prompting regulatory action. These actions demonstrate the ongoing commitment to food safety regulations in India. The regulator's steps aim to ensure compliance with food safety standards among manufacturers.
Dr Doom, who predicted global financial crisis, has a forecast for India
Economist Nouriel Roubini, known as “Dr Doom” for predicting the 2008 Global Financial Crisis, sees India emerging as a major growth story over the coming decades. He believes easing US tariffs, deeper trade ties, friendshoring and continued reforms could strengthen India's economic prospects. However, India must accelerate growth towards 9% to create enough jobs for its young workforce as artificial intelligence reshapes employment and global manufacturers diversify beyond China.
MacKenzie Scott never forgot her college roommate's $1,000 help, a dentist's free treatment. Years later, ex-wife of Jeff Bezos gave away $26 billion in philanthropy
MacKenzie Scott's journey began with hardships at Princeton University, where she was uplifted by her friends' support. Following her separation from Jeff Bezos, she transformed into a celebrated novelist and philanthropist. Dedicated to philanthropy, she pledges to give away half of her fortune, fueled by her belief in the power of generosity. Having donated over $26 billion, she targets vital areas like education and economic recovery.
In 2006, Matt Damon built a non-profit after seeing water crisis in a Zambian village; 20 years later, the charity mission has reached more than 95 million people
Matt Damon's water nonprofit began after a 2006 visit to Zambia, where a borewell near a young girl's home was the only thing standing between her and school. Two decades later, Water.org, the organisation he co-founded with engineer Gary White, says it has reached more than 95 million people, not through wells alone but through small loans that let families pay for their own water and toilets.
FSSAI orders Everest to recall cumin powder after sample found ‘unsafe’
FSSAI has ordered Everest Food Products to immediately recall a batch of pre-packed cumin powder after testing found pesticide residues above prescribed limits. A referral laboratory confirmed the sample was unsafe. The regulator also suspended Creative Bakers and Confectioners’ licence over severe hygiene deficiencies and directed corrective action.
Nestle India's low-fat dairy whitener fails food safety test
FSSAI recently deemed Nestle India's low-fat dairy whitener unsafe, stating it didn't adhere to the Food Safety and Standards Act of 2006, based on lab findings. Nestle, however, maintains that its product fully complies with safety regulations, asserting the phosphorus content is naturally derived from milk and is within the permissible limits outlined by the law.
Small Habit That Changed Their Finances: Vivek Oberoi has Rs 1,200 cr wealth, but still checks price tags. Actor-businessman says, 'not because I have to but...'
Vivek Oberoi, who reportedly has Rs 1,200 crore wealth, says his approach to money was shaped by lessons from his father. In an Indian Express interview, he outlined wealth creation through active income, savings and purposeful long-term investing. He still checks price tags to see whether value matches the price. Oberoi also learnt debit and credit at 11 or 12 and started his first business at 19.
'Big Short' investor Michael Burry hates the AI trade, but the bear is bullish on these stocks
Michael Burry has taken full positions in five beaten-down stocks: QXO, Sprouts Farmers Market, Build-A-Bear, Birkenstock and MercadoLibre, citing attractive valuations. The investor remains bearish on AI-driven market exuberance, warning about stretched valuations, rising AI debt and potential market risks, while drawing parallels with previous periods of excessive optimism.
Orbital Shift: India's space sector undergoing biggest transformation; pvt firms handle rockets, ISRO focus on more ambitious missions
India's space sector is undergoing significant changes as private companies engage in rocket production and management. The Indian Space Research Organisation is shifting its focus towards more ambitious missions and projects. This transition follows the introduction of the Indian Space Policy 2023, which emphasizes private sector participation. Concerns have been raised by ISRO employees regarding the agency's future and potential loss of capabilities.
Same playbook, different numbers: Why FPI selling may not be the story it looks like
Indian equities extended their losing streak as elevated crude, US Treasury yields, geopolitical risks and FPI selling weighed on sentiment. However, foreign investors continued backing IPOs, selectively buying debt and mid-small caps, suggesting portfolio selectivity rather than a broad withdrawal from Indian markets.
Warren Buffett on the difference between investing in real estate and the stock market
Both purchases were small, and he says so himself. He tells the stories anyway, because between them they contain everything he knows about investing, and neither involves a share certificate, a screen, or a single price quotation. What makes them work is the same thing that stops most people from making money in the market, and it has nothing to do with skill.
IRDAI proposal hits insurance stocks; FSSAI vs ecomm giants
The insurance regulator has proposed new limits on commissions as part of a wider overhaul. This and more in today’s ETtech Top 5.
FSSAI initiates action against Amazon, Swiggy Instamart, BigBasket, Flipkart India over alleged violations
FSSAI said action had been initiated against Amazon, Flipkart India, Swiggy Instamart, Zepto and BigBasket over allegedly misleading claims related to Happilo Premium Date Bites - Zesty Orange. Separately, Swiggy Instamart and BigBasket face action over alleged misleading claims and non-compliant product information involving three Milky Mist products - Fresh Low Fat Cream, Farm Fresh Curd and Greek Yoghurt.
Harvey Weinstein faces fresh sentencing after years of retrials and legal battles
Harvey Weinstein is awaiting sentencing for sexually assaulting a former production assistant in 2006. After years of trials, he faces a potential 25-year sentence, having already served six years. Attorney Jacob Kaplan argued for a reduced sentence due to Weinstein's health conditions, including blood cancer and congestive heart failure. Miriam Haley, the victim, shared her traumatic experience in court before Weinstein's sentencing.
'The Big Short' fame Michael Burry bets on copper. Is red metal heading for a hot rally?
‘The Big Short’ fame Michael Burry has disclosed a long position in copper producer Ero Copper, as supply constraints, falling inventories and limited discoveries fuel expectations of further gains in the red metal.
In 1976, American animator Bob Boyle helped launch a campaign against Hudson River pollution. 39 years later, EPA's cleanup had removed more than 3 million cubic yards of PCB-contaminated sediment
In 1976, American animator Bob Boyle helped launch a campaign against Hudson River pollution. The record shows that Robert H. “Bob” Boyle was a Sports Illustrated writer and environmental activist. His work with Hudson River fishermen helped build a campaign against pollution. PCBs became a central issue. The EPA later designated the river a Superfund site, while a 2009–2015 cleanup removed about 2.75 million cubic yards of contaminated sediment.
ICAI readies CA Act changes to build bigger accounting firms
The Institute of Chartered Accountants of India will propose Act changes soon. These changes aim to help Indian firms compete globally. The Prime Minister's Office has discussed regulatory adjustments for domestic companies. ICAI plans to revise networking and practice guidelines for broader collaboration. This initiative seeks to create larger, more capable professional entities.
ICAI prepares reforms for creating larger accounting firm networks; proposals expected in two months
ICAI plans to propose reforms within two months to help Indian accounting firms scale up and compete globally. The proposals include recognising aggregation structures, allowing capital infusion, easing rules on non-assurance services, and expanding professional networks to include lawyers, engineers, architects and other professionals.
Warren Buffett leaves behind an 'enemy list' for every investor
After six decades at the helm, Warren Buffett has stepped down as chairman of Berkshire Hathaway. Celebrated for his distinct investment philosophy, he underscored the importance of managing emotional impulses like fear and greed, which often plague the financial markets. He also warned about the perils of impulsiveness, herd mentality, and ego that can negatively impact investment choices.
Food regulator directs Nilgiri Oil and Allied Industries, Aquagri to recall 2 products
Food regulator FSSAI has ordered immediate recalls of two products from the market. Nilgiri Oil and Allied Industries must recall its coriander powder due to pesticide residues. Aquagri Processing's carrageenan product is recalled for safety concerns regarding cadmium. Lab testing found both products unsafe and not conforming to standards. FSSAI has increased enforcement actions against food businesses recently.
Corporate affairs ministry clarifies on 'appointed date' for mergers, amalgamations
Under Ind AS 103, which deals with the accounting treatment, uses the expression ''acquisition date'', as a date when the acquirer takes control of the acquiree.
ICAI withdraws announcement on auditor rotation after govt directive
On January 29, the ICAI issued a clarification on applicability of rotation of auditors under the Companies Act, 2013.
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