Karnataka govt notifies norms to check layouts in unregulated areas
Bharath Joshi
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India.com
2 days ago
- India.com
Bad news for Deepinder Goyal as Maharashtra govt takes big decision on Blinkit, Zepto after..., says will continue to...
(File) In more trouble for quick commerce majors Zepto and Blinkit amid the controversy surrounding their dark stores in Maharashtra, the state government has announced that it would continue regular inspections of these units to ensure cleanliness and other mandatory standards are being followed. The development comes after the Maharashtra Food and Drug Administration (FDA) ordered the closure of dark stores of both Zepto and Blinkit in early June for allegedly violating hygiene standards. The state suspended the food license of a Zepto dark store in Dharavi, while a similar facility of Blinkit was shuttered in Pune. Why FDA took action against Zepto and Blinkit? Last month, based on a consumer complaint, the Maharashtra raided a Blinkit dark store, run by Darkstore Services near Mitcon College in Pune's Balewadi area, and found that the facility was operating without a food safety license, in violation of the Food Safety and Standards Act, 2006. Apart from lack of a license, several other gross violations of hygiene standards were found during the FDA inspections, such as pieces of food items lying on the floor, workers handling consumables without headgear, etc. Following the revelation, the Joint Commissioner (Food) ordered the store operator to immediately halt all food- related activities until it obtains a valid food license from authorities. In Zepto's case, the FDA cancelled the license of its Dharavi facility for non-compliance with food standards. As per the FDA, Zepto's Dharavi dark store was shuttered for violating several regulations, including Food Safety and Standards Act, 2006 and the Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011, according to a report by NDTV Profit. According to the agency, gross violations of food standards norms were found at Zepto's Dharavi facility, including fungal growth in certain food articles, and food products stores near stagnant water, which indicated poor hygiene as cold storage rules were flouted. The inspection also discovered the facility's floors were wet and filthy, and food items were stored in a disorganized and unsanitary manner, including directly on the floor. The state FDA had also found norms violations during inspections at Zepto facilities in Bhiwandi, Bandra West and Borivali. What happened to these stores after FDA action? According to Moneycontrol report, the Zepto and Blinkit have reopened their dark stores after acquiring the necessary permissions from authorities. 'Blinkit and Zepto have made the necessary changes. We had sent them a letter clearly stating that all their stores should follow the cleanliness and rules. They have assured us that these rules are now being followed completely. However, we are constantly checking whether everything is being implemented properly or not,' the report quoted Maharashtra's Minister of State for Food and Civil Supplies Yogesh Kadam as saying.
The Hindu
2 days ago
- The Hindu
Tamil Nadu Green Energy Corporation applies for intra-State electricity trading licence
Tamil Nadu Green Energy Corporation Limited (TNGECL), in a bid to become power procurement intermediary, has applied for a Category-G licence for intra-State trading of electricity across Tamil Nadu. TNGECL was formed with the aim to streamline the development and implementation of green energy projects, such as wind, hydro, and solar power, by creating a single-window clearance system for developers, as per a petition filed with the Tamil Nadu Electricity Regulatory Commission (TNERC). One of the key objectives of TNGECL is to increase the share of renewable energy in Tamil Nadu's energy mix to 50% by 2030, aligning with the renewable purchase obligation (RPO) trajectory. This ambitious target is part of the broader goal to reduce the State's carbon footprint and promote sustainable development, it added. With an ambition to lead the renewable energy transition from the front, TNGECL intends to enter as a power procurement intermediary, thereby diversifying its portfolio, as per the petition. It will act thereby purchase power from the renewable power developer (RPD) and sell it to the Tamil Nadu Power Distribution Corporation Limited (TNPDCL), the release added. The Tamil Nadu Electricity Regulatory Commission (Licensing) Regulations, 2005 (as amended up to December 31, 2009), outlined various categories based on trade volume for entities applying for a trading licence. TNGECL plans to apply for a Category-G licence to trade electricity exceeding 500 million units (MU) annually, as per the petition. TNGECL aims to incentivise the RPD by ensuring early payments before due dates. This initiative will set up a payment security mechanism, thereby relieving the TNPDCL from the obligation of timely payments, it said. It will engage in power trading through medium- and long-term contracts with simultaneous power purchase agreements (PPA) and power sale agreement (PSA) with the RPD and TNPDCL respectively, the petition said. TNGECL will procure power from the RPD at the discovered tariff. Its power trading business process is designed to attract private investment in the renewable energy sector by ensuring financial security, while simultaneously assisting the State to manage demand and achieve its targets. It plans to commence trading with 1,000 MUs and progressively increase the traded units year-on-year. The traded units are projected to grow at a compound annual growth rate (CAGR) of 18.92%. The TNERC said it was prima facie satisfied that TNGECL had qualified for the licence and had invited comments on the proposal. It is set to hear the proposal further on August 5 for a final disposal.
Mint
2 days ago
- Mint
850% rally in five years! Multibagger penny stock to be in focus on Monday; here's why
Multibagger penny stock: PC Jeweller shares are one of the multibagger stocks the Indian stock market has delivered in recent years. The penny stock priced below ₹ 15 is expected to be in focus on Monday as the company board has approved allotment of warrants through the preferential route on a private placement basis. On Friday, the company board formed about the allotment of these warrants in an exchange filing. The warrants have been allotted to one promoter and eleven non-promoters. The only promoter who has been allotted warrants is Balram Garg (HUF). The jewellery brand informed the Indian stock market exchanges about the move saying, "..... we would like to inform further that the Board of Directors of the Company vide a resolution passed by Circulation on July 25, 2025 has allotted 34,67,82,850 (Thirty Four Crore Sixty Seven Lakh Eighty Two Thousand Eight Hundred Fifty) equity shares of face value of Re 1/- (Rupee One Only) each, on conversion of 3,46,78,285 (Three Crore Forty Six Lakh Seventy Eight Thousand Two Hundred Eighty Five) Warrants, to 12 Allottees belonging to 'Promoter Group' and Non-Promoter, Public Category', after adjusting the number of shares, paid-up value per share and premium per share post sub-division / split of face value of equity shares of the Company from 1 equity share of ₹ 10/- each to 10 equity shares of ₹ 1/- each w.e.f. December 16, 2024, upon receipt of the balance amount aggregating to ₹ 146,16,89,712.75 (Rupees One Hundred Forty Six Crore Sixteen Lakh Eighty Nine Thousand Seven Hundred Twelve and Paise Seventy Five Only) at the rate of ₹ 42.15 (Rupees Forty Two and Paise Fifteen Only) per Warrant (being 75% of the Issue Price per Warrant) pursuant to the exercise of their rights of conversion of Warrants into equity shares in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares shall rank pari-passu with the existing equity shares of the Company." In one month, PC Jeweller's share price has ascended 20 per cent, whereas in the last six months, this penny stock has delivered just 8 per cent returns. In YTD time, this multibagger penny stock has generated zero returns by logging a decline of around 10 per cent. However, in one year, PC Jeweller's share price has ascended 70 per cent, while in the last five years, this multibagger penny stock has risen nearly 850 per cent. The multibagger penny stock is available for trade on both the NSE and the BSE. It ended on Friday with a trade volume of nearly 4.96 crore and a market cap of ₹ 9,567 crore. Its 52-week low is ₹ 8.20 apiece, and its 52-week high is ₹ 19.65 per share on the NSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
