Business
Zomato acquires 15-minute delivery platform Blinkit for Rs 4,447 cr
Online food delivery platform Zomato on Friday announced it had acquired quick-commerce platform Blinkit for Rs 4,447 crore (about $568 million) in an all-stock deal.
Zomato already owned more than 9 per cent stake in Blinkit (earlier Grofers).
While the earlier Blinkit deal value was around $700 million, the drop in Zomato’s share price reduced it to $568 million.
“This foray into the next big category is timely as our existing food business is steadily growing towards profitability,” said Zomato CEO Deepinder Goyal.
Zomato has grown at a CAGR of 86 per cent in the last four years to an adjusted revenue of $710 million “while the adjusted EBITDA margin has improved from (153 per cent) in FY19 to (18 per cent) in FY22”, Goyal added.
Zomato’s restaurant supplies subsidiary Hyperpure will acquire the warehousing and ancillary services business of Hands on Trade Private Ltd (HOTPL) for Rs 60.7 crore.
Akshant Goyal, Chief Financial Officer, Zomato said the company is not acquiring the B2B trading business as “that no longer fits strategically into our plans”.
“Our existing Rs 2,228 million investment in HOTPL is protected through our liquidation preference right,” he said.
Blinkit is a quick commerce marketplace delivering grocery and other essentials to customers within minutes (average delivery time of 15 minutes in the month of May).
Blinkit was rebranded from Grofers after a pivot to quick commerce last year. Their erstwhile business model was next-day grocery delivery.
“Blinkit’s business pivoted to 100 per cent quick commerce in January 2022 and since then, the business has made tremendous progress on all important and relevant metrics for this business,” said Goyal.
In the month of May 2022, Blinkit did gross order value (GOV) of Rs 4,028 million, which is 1/5th of Zomato’s monthly average food delivery GOV in Q4 of FY22.
In August last year, Blinkit (then Grofers) raised $100 million from Zomato.
“As a food company, we are already tapping into the large food delivery opportunity in India. In addition to that, we now also want to focus on quick commerce as a natural extension of our food delivery business,” said Goyal.
“Quick commerce will help us increase the customer wallet share spent on our platform and also drive higher frequency and engagement from our customers,” he added.
The closing of the transaction is expected to happen in early August 2022.
Business
7.8 pc GDP growth reflects country’s progress: Maha CM Fadnavis, Dy CM Shinde

Mumbai/Thane, Sep 1: Maharashtra Chief Minister Devendra Fadnavis and Deputy Chief Minister Eknath Shinde on Tuesday hailed India as it registered a real GDP growth rate of 7.8 per cent in the first quarter of the 2026–27 financial year (Q1 FY27, April–June 2026) under the leadership of Prime Minister Narendra Modi reflecting the country’s progress.
Chief Minister Fadnavis in his post on social media platform X said, “Yehi hai right choice, Bharat! Let’s keep going the same way, same direction. 7.8 per cent growth in such times prove our potential and possibilities as a Nation with PM @narendramodi’s leadership! Congratulations Bharat!”
On the other hand, Deputy Chief Minister Eknath Shinde said that India’s economy continues to demonstrate strong growth with a 7.8 per cent GDP expansion at a time when several nations globally are grappling with conflict and economic fallout.
“This reflects economic progress and stability, this marks another key step toward achieving the vision of ‘Viksit Bharat 2047’,” The Deputy Chief Minister added.
Speaking to reporters on the country’s economic outlook, Deputy CM Shinde expressed confidence that under the leadership of Prime Minister Narendra Modi, India is moving steadily toward becoming an economic superpower and achieving its target of a $5 trillion economy.
He assured that the Maharashtra government will contribute significantly to this journey.
Highlighting the adverse global backdrop, the Deputy Chief Minister noted that ongoing wars and geopolitical conflicts have impacted multiple world economies.
“In contrast, India’s 7.8 per cent growth rate presents a highly promising picture and signals the nation’s rising economic strength.”
Deputy CM Shinde emphasised that every citizen should take pride in the nation’s strengthening economy.
However, he criticised the opposition parties for taking a negative stance on national progress due to political bias against PM Modi.
He remarked that appeals made by the Prime Minister are always aimed at national interest, upliftment, and growth, but are often viewed through a narrow political lens by his critics.
“Instead of questioning progress, everyone should contribute toward accelerating development,” Deputy Chief Minister Shinde added.
Reaffirming the state’s commitment, the Deputy CM said that Maharashtra will fully cooperate with the Central government to reach the $5 trillion target and realise the ‘Viksit Bharat 2047’ roadmap.
He asserted that India’s economic strides are a matter of pride for all 140 crore citizens, adding that the public will appropriately respond to those opposing the country’s growth.
Business
Railways okays Rs 233 crore electronic signalling system at 21 stations in Bihar

New Delhi, Sep 1: Indian Railways has approved a proposal for the provision of modern Electronic Interlocking (EI) at 21 stations of Samastipur Division (Bihar) of East Central Railway with an investment of Rs 233 crore, according to an official statement issued on Tuesday.
The approved work involves the replacement of existing panel interlocking with electronic interlocking at these stations in Bihar. The electronic system will strengthen railway signalling infrastructure across the division and facilitate the implementation of Kavach, the indigenous Automatic Train Protection system, to enhance safety.
Electronic interlocking is a modern signalling technology that replaces ageing relay-based systems with computer-based interlocking, ensuring higher reliability, faster fault diagnosis, easier maintenance and enhanced operational flexibility.
The initiative is part of Indian Railways’ continued efforts towards modernisation of signalling systems, strengthening railway safety and enhancing operational efficiency across its network, the statement said.
Indian Railways has also sanctioned the Bhavnagar Para (BVP) Yard Remodelling project in Gujarat at a cost of around Rs 125 crore. The project will strengthen rail infrastructure in Bhavnagar by creating additional operational capacity at Bhavnagar Para and improving facilities for passengers.
The project will help decongest Bhavnagar Terminus by shifting stabling and other operational activities to Bhavnagar Para. This will enable smoother train operations, reduce rake detention and help improve punctuality. The additional infrastructure at Bhavnagar Para will facilitate better management of train movements and provide greater operational flexibility.
The remodelling work includes four loop lines, one engine reversal line, ART and ARME siding, relocation of the Station and EI building, one high-level passenger platform, widening of the existing platform, extension of the existing Foot Over Bridge (FOB) and construction of one new FOB. The project will also include two Road Under Bridges (RUBs), including one new RUB and extension of an existing RUB, along with service buildings and associated electrical and signalling works.
Passenger convenience will be enhanced through a new high-level island platform, widening of Platform No. 2 and improved FOB connectivity at Bhavnagar Para station. These facilities will provide easier movement and access for passengers, the statement added.
Business
669 metric tonnes onions sold at Rs 35 per kg, Rs 210 crore paid directly to 3,400 farmers: Govt

New Delhi, Sep 1: Retail sales of onions continue at Rs 35 per kg and a total of approximately 669 metric tonnes (MT) of the staple vegetable has been sold to date, comprising 223 MT through bulk channels via the e-NAM portal and similar online platforms at prevailing mandi prices, and 446 MT through retail channels across the country, the government said on Tuesday.
The affordable onion sale is being organised through the NCCF, the NAFED, Kendriya Bhandar outlets, and mobile vans, ensuring affordable availability for consumers.
“Simultaneously, around 1,000 MT of onions are being transported by road to major consumption centres, based on prevailing market conditions and price trends, with the aim of improving availability and moderating seasonal price pressures,” the Ministry of Consumer Affairs, Food, and Public Distribution said in a statement.
Further, Rs 210 crore has been paid directly to around 3,400 farmers, ensuring timely payments.
The government said it has begun a calibrated release of onion buffer stocks through a hybrid transportation model comprising railway rakes (Kanda Express) and road transport to major consumption centres to ensure adequate availability and moderation of seasonal price pressures.
As part of this initiative, two Kanda Express consignments have been dispatched from Nashik. The first rake, carrying 450 MT of onions, reached Delhi in the late hours of August 27.
Of this, 140 MT was subsequently distributed across Varanasi, Lucknow, Chandigarh, and Amritsar, with the remaining quantity distributed across the Delhi-NCR region.
The second rake, carrying 840 MT of onions, reached Chennai on August 31. The Tamil Nadu government plans to distribute these onions through the Public Distribution System (PDS) against the requirement of 1 kg per card.
The onions are likely to be distributed across various districts of Tamil Nadu as per the proposed district-wise clustering:
Retail intervention efforts have expanded significantly across 19 cities, supported by the dispatch of over 30 trucks to ensure widespread availability, said the official statement.
The release of onions from buffer stocks has improved market availability and eased prices, particularly in centres where onion consignments have reached, such as Varanasi, Amritsar, Delhi and nearby markets. Prices have shown a decline from the day following the commencement of disposal, with increased supplies expected to further support price stability.
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