🍯 Patanjali vs Dabur Heats Up

🌞 Good Morning, Chai Fam — FriYAY is here!

We’ve brewed it through another rollercoaster week 🎢. Markets are still finding their rhythm, India is swapping ethanol for isobutanol, Washington is keeping New Delhi on its tariff leash, and tech giants are facing fresh watchdog heat. But the juiciest sip today? The Chyawanprash war between Patanjali and Dabur — a clash of ad campaigns, Ayurveda claims, and courtrooms. Grab your cup, this one’s spicy.

📰 Chai Shots

• 🍯 Patanjali vs Dabur: Ad Rivalry Boils Over: Patanjali has gone back to court after being forced to edit chyawanprash ads that labeled rivals as “ordinary” and implied only Patanjali had the true Ayurvedic knowledge to make authentic chyawanprash. Dabur, which dominates 60% of the market, argues the campaign misled consumers. The clash is now before the High Court’s appellate bench. More in the Big Brew 👇

• 💻 Infosys Unveils ₹9,200 Cr Buyback: Infosys announced its first buyback since 2022, offering ₹1,750 per share — a healthy premium to its current price. The move signals confidence in its cash reserves at a time when global IT spending is under strain. Analysts note buybacks not only lift investor confidence but also improve earnings-per-share by shrinking equity base.

• 🇮🇳🇺🇸 India–US Trade Talks “Moving Well”: Commerce Minister Piyush Goyal said both sides are satisfied with progress on a bilateral trade deal, aiming to seal the first tranche by November. While the U.S. continues pressing for market access in dairy and farm goods, Modi and Trump have publicly exchanged warm words, calling each other “friends” and “partners.”

• 🧲 China’s Magnet Export Freeze Pinches India: Despite promises to ease curbs, rare earth magnets from China have yet to resume shipment. Automakers like TVS Motor admit they’re rationing stock daily, while Mahindra says it can last through December. Since Beijing controls 80% of global supply, India’s auto sector remains highly vulnerable to geopolitical shocks.

📊 Market Masala

• 📈 Markets Stick the Landing Above 25K: The Sensex inched up 124 points to 81,549 while the Nifty held just above the 25,000 mark, stretching its winning streak but losing steam. Oil & gas and PSU banks gave markets a boost, but IT and autos saw investors cash out after recent highs. The mood stayed cautious as the rupee slid to a record low of 88.45 against the dollar, underlining pressure from global headwinds.

• ⚡ Adani Power Scores ₹21,000 Cr Project: Adani Power secured a 1,600 MW ultra-supercritical thermal project in Madhya Pradesh — doubling its win in the bidding process with an additional 800 MW via greenshoe. This marks its fifth major contract in a year, adding up to 7,200 MW of fresh capacity, underscoring its dominance in India’s power supply pipeline.

• 🧾 Tax Notices Rattle Big Four Partners: The Income Tax Department has sent scrutiny notices to senior professionals, including Big Four partners and retirees, questioning their exempt income claims such as partnership profits and retirement payouts. While these incomes are legally tax-free, experts say a new algorithmic risk filter likely flagged them. The move is spooking professionals, as it signals even lawful exemptions can draw red tape.

• 🇳🇵 Nepal Unrest Jolts FMCG Ops: Britannia has halted bakery output and Dabur’s Birganj plant is running below capacity as protests escalate. While Nepal contributes under 3% to Dabur’s overall revenue, it plays a larger role as a manufacturing hub for Indian FMCG companies. The disruptions highlight how political instability can rattle production networks even when direct sales exposure is small.

🌐 Global Masala

• 📊 Global Equities Hit Record Highs: The MSCI All Country World Index touched new peaks for four straight sessions, while the S&P 500, Nikkei, Kospi, and Singapore’s Straits Times Index also soared. Softer U.S. inflation data, weaker job reports, and bets on three Fed rate cuts this year have boosted risk appetite. Oracle’s AI-driven earnings outlook added fuel, pushing its valuation to $922B — its best trading day since 1992.

• 💵 US Inflation Data Keeps Fed in Play: August core CPI rose 0.3%, with headline CPI climbing 0.4% — the highest monthly jump since January. Rising car, appliance, and airfare costs highlight lingering price pressure even as tariffs weigh on goods. Still, traders expect the Fed to deliver its first rate cut of 2025 next week, with more cuts likely by year-end.

☕ The Big Brew 🍯⚔️ The Chyawanprash Wars: Patanjali vs Dabur

The age-old immunity booster has sparked a modern courtroom brawl. Patanjali and Dabur, two FMCG giants, are locked in a legal fight over chyawanprash ads that could set new limits on how Indian brands compete.

• 🏛️ What happened? In July, a Delhi High Court judge restrained Patanjali from running ads calling other brands “ordinary” or suggesting only its products had the authentic Ayurvedic knowledge to make real chyawanprash.

• 📺 Why it matters? The judge noted that Ramdev’s role as narrator gave undue credibility, creating the impression that only Patanjali’s chyawanprash was legitimate — misleading in a market regulated by the Drugs and Cosmetics Act.

• 🧾 Patanjali’s defense: It claims the ads never named Dabur directly, only praised its own product, and that the word “ordinary” is neutral puffery, even backed by past legal precedent.

• 🐘 Dabur’s stance: Holding 61% of the chyawanprash market, Dabur says the ads directly disparaged rivals, misled consumers, and raised unnecessary safety doubts. It also cited Patanjali’s history of controversial advertising.

👉 What does this mean?
If Patanjali wins, expect Indian advertising to get bolder 💥, with more aggressive comparisons dressed as puffery. If Dabur prevails, 🛑 brands may face stricter limits on how they position themselves against rivals — especially in health-linked products. Either way, the outcome will reshape how FMCG giants sell tradition in a modern market.

🚀 Startup Scoop

• 🚘 BluSmart’s Domain Auctioned Off: EV ride-hailer BluSmart’s official site is now listed for sale, a symbolic end after insolvency proceedings and ₹500 crore creditor claims. SEBI earlier accused its promoters of misusing funds, deepening its downfall.

• 🥩 Biokraft Raises ₹2 Cr Pre-Seed: Ahmedabad-based Biokraft is building cultivated meat with 3D bioprinting and hybrid protein mixes. It has completed 400+ consumer trials and plans to expand into cultivated seafood and even pet food.

• 🧪 BacAlt Biosciences Bags ₹18 Cr: BacAlt, founded in 2023, is turning agro-waste into biopolymers to replace petrochemicals and microplastics in personal care, pharma, and agriculture. The ₹18 crore round led by Avaana Capital and Lubrizol will help it scale production and expand globally.

• 💳 GrowXCD to Raise ₹200 Cr Series B: The Chennai NBFC startup is tripling its valuation to ₹630 crore with a Series B led by Blue Earth Capital and Prosus. Revenue grew 7X to ₹27 crore in FY25, though losses widened — reflecting both momentum and risks in serving MSMEs and low-income households.

🎲 Chai Break Trivia

Did you know 🌌 The deepest sound ever detected in the universe comes from a black hole in the Perseus galaxy cluster. NASA converted the pressure waves into audio, and the “cosmic hum” is 57 octaves below middle C — so low that humans can’t hear it without scaling it up. Space may not be silent after all!

🔮 What’s Brewing Next

• 🚗 Automakers brace for festive demand while juggling magnet shortages.

• 🛢️ OPEC+ October output review could swing oil prices again.

✨ And that’s the final pour for this week! May your Friday coffee be strong, your weekend long, and your Monday very, very far away. Catch you next week for more hot masala with your chai.