Saturday, October 03
New Delhi: Reliance will invest up to Rs 8,000 crore on capacity expansion of Campa and other beverage brands in its portfolio over the next 12-15 months, people directly aware of the development said.Mukesh Ambani-owned Reliance Consumer Products (RCPL) is adding nearly 10-12 new greenfield and co-packing plants to step up its challenge not only against larger rivals Coca-Cola and PepsiCo, but also against dozens of low-priced regional brands across the country, one of the executives said. The proposed capex investment is the largest yet by RCPL, which started operations in 2022 as a wholly owned subsidiary of Reliance Retail Ventures. "The capex is being done on a combined investment of Rs 6,000-8,000 crore by Reliance and some of its partners," said the executive cited above.121938215In
A partner of an accounting firm will be allowed to take up a maximum of 60 tax audits in a year from FY27, Institute of Chartered Accountants of India (ICAI) president Charanjot Singh Nanda said.This would discourage a concentration of audit assignments with only a few senior partners at accounting firms and curb any anti-competitive conduct, he indicated.ICAI, in its council meeting in late May, decided to alter the guidelines and the new ones would be notified soon, Nanda told ET.121916685As per extant guidelines, while a single chartered accountant operating on their own can undertake up to 60 tax audits in a fiscal year, a partnership firm, as a whole, is allowed to conduct audits up to the combined limit of all its partners. This often results in senior partners at these firms using t
Calm appeared to be returning to protest-hit Los Angeles on Tuesday as the mayor lifted a nighttime curfew, while President Donald Trump battled to keep control of California troops he deployed to the city.A fraction of the sprawling US city had been off-limits from 8pm to 6am to most people for a week after instances of looting and vandalism during demonstrations against Trump's immigration raids.Los Angeles Mayor Karen Bass said the curfew had been "largely successful in protecting stores, restaurants, businesses and residential communities from bad actors who do not care about the immigrant community."However, she added that, "as we continue quickly adapting to chaos coming from Washington," she was prepared to reissue a curfew if needed.Bass and other California officials have accused
Shares of Hindustan Zinc dropped as much as 6.3% on Wednesday to Rs 455.35 on the BSE, deepening a six-session slide that has wiped out nearly 15% of its market value. The selloff comes just as the company is laying out a multi-year expansion plan, sparking a divide amongst Dalal Street brokerages over whether the current correction is a buying opportunity or a sign to stay cautious.Hindustan Zinc’s board has approved a major growth capex of Rs 12,000 crore, aimed at adding 250,000 tonnes per annum (tpa) of smelting capacity at Debari, Rajasthan, along with a 330ktpa increase in mining and milling capacity. The project is expected to be executed over FY26–FY28 and is part of the company's long-term goal to double its production capacity.JM Financial maintained its 'buy' rating and rais
