Government has come up with 2nd relief package of Rs. 6.29 Crore for sectors hit by 2nd Covid wave. Package includes Rs. 23,200 crore to strengthen health infrastructure. Allocation to credit guarantee scheme has been increased to Rs. 4.5 lakh Crore from Rs. 3 lakh Crore.
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BSE Sensex went up by 1.74% to close at 52,843 in June 2021. Nifty 50 closed at 15,722 higher by 0.89% from 15,583 in May closing.
KKR, a global investment firm, and Vini Cosmetics, a branded personal care and beauty products company in India, announced that Company’s Founder Group – led by Darshan Patel, Chairman & Joint-Managing Director, and Dipam Patel, Joint-Managing Director – and Sequoia Capital will sell a majority stake in the Company to KKR for approximately US$625 million (INR 46 billion).
Thyrocare Technologies Limited has agreed to sell approximately 66.14% of its equity share capital equivalent to 3,49,72,999 equity shares to Docon Technologies Private Limited, a 100% subsidiary of PharmEasy’s parent API Holdings Ltd at cash consideration of 4546.49 crore.
IIP numbers of April demonstrate that Indian Economy has remained resilient to Covid-19 2nd wave. At the same time the stock markets have remained bullish in the month of May.
Key Deals include New Mountain Capital backed Aceto acquiring Finar, Adani Green Energy acquiring SB Energyand Pine Labs raising equity funding.
The markets are shooting up as the sentiment was boosted by the steady fall in covid cases and expectations of easing of lockdown
Pine Labs, a merchant commerce platform, announced that is has completed a new round of financing by raising $285 million. Company was valued at $3 billion as per various reports.
Adani Green Energy Limited (AGEL) signed share purchase agreements for the acquisition of 100% interest in SB Energy Holdings Limited (SBEHL) from SoftBank Group (80%) and Bharti Group (20%).
• Aceto global, provider of specialty materials for life sciences and advanced technology end markets, announced the acquisition of a majority stake in Ahmedabad based Finar Limited.
Indian Economy’s recovery pace moderated in April on account of 2nd Covid-19 wave with record infections. Markets remained stable in this month but two IPOs were listed at discount.