Eternal Limited (formerly known as Zomato Limited) has released a voluntary statement regarding the implementation of the Code on Social Security 2020, a significant labor reform aimed at strengthening social security access for gig workers in India.

Key Points of the Disclosure

• Scope: The Code on Social Security 2020 (CoSS) is part of a larger consolidation of 29 central laws into four Labor Codes.
• Impact: The new framework will affect gig workers across the country, including those working with Zomato and Blinkit platforms.
• Company's Stance: Eternal Limited welcomes the unified, nationwide framework, viewing it as a step in the right direction.
• Current Benefits: The company already provides a range of comprehensive insurance and welfare benefits to gig workers at no cost.
• Financial Outlook: Eternal Limited does not anticipate any detrimental financial impact on its long-term business health due to these changes.

Company's Preparedness

Eternal Limited has stated that it has been:

1. Anticipating and planning for social security-related contributions in its businesses.
2. Engaging with the government over the years and providing input throughout the process.
3. Committed to supporting measures that improve outcomes for gig workers.

Implementation Status

While the Code has been passed, the corresponding Rules are yet to be notified. The exact financial and operational contours of the CoSS will only become clear once these Rules are officially announced.

Company's Commitment

Eternal Limited has expressed its deep commitment to the wellbeing of gig workers and welcomes measures that further improve outcomes for this workforce segment.

This voluntary disclosure by Eternal Limited demonstrates the company's proactive approach to regulatory changes and its focus on transparency with investors and stakeholders.

A significant block trade involving Zomato Ltd shares took place on the National Stock Exchange (NSE), marking a notable institutional trading activity for the food delivery giant.

Trade Details

The substantial transaction, involving over 8.5 million shares of Zomato, was executed at a price of Rs. 300.00 per share. This block trade represents a significant movement in the company's stock and could potentially impact market sentiment towards Zomato.

Significance of the Trade

Block trades of this magnitude are often indicative of large institutional investors either entering or exiting substantial positions in a company. While the identity of the parties involved in this transaction remains undisclosed, the size of the trade suggests it could be a strategic move by a major investor or institution.

For Zomato, a company that has been in the spotlight since its high-profile IPO, such large-scale transactions can draw considerable attention from market participants and analysts alike. The trade's impact on Zomato's stock price and overall market perception will be closely watched in the coming days.

Investors and market observers will likely be keen to see if this block trade leads to any significant changes in Zomato's shareholding pattern or if it signals a shift in institutional investor sentiment towards the company.

As the food delivery sector continues to evolve in India, with intense competition and changing consumer behaviors, large stock movements like this one will be scrutinized for insights into investor confidence in Zomato's business model and growth prospects.