Sony Pictures Networks India (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) announced that they have entered into an exclusive, non-binding term sheet to combine both companies’ linear networks, digital assets, production operations and program libraries.
Merger & Acquisitions
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Domestic economic activity has started normalizing with the receding second wave of Covid-19 and the phased reopening of economy.
Adani Road Transport Limited (‘ARTL’), a wholly-owned subsidiary of Adani Enterprises Limited, has signed a definitive agreement with Sadbhav Infrastructure Project Limited (‘SIPL’) for acquisition of Maharashtra Border Check Post Network Limited (‘MBCPNL’).
Core Industries posted modest growth in June with the tapering of the Covid-19 wave. GST numbers of
July are also robust. However, inflation has remained above benchmark for consecutive second month. Stock markets stayed bullish and Realty sector saw a 10-year high in the month of July 2021.
Japanese Bank Sumitomo Mitsui will acquire a 74.9% stake in Fullerton India Credit Company Limited and eventually aquire 100% stake of FICC.
Our published article in CAA Journal. Business activity has started rebounding after the 2nd Covid wave and markets are bullish. There is a note on 30 years of economic reforms of India led by Narasimha Rao and Manmohan Singh.
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.
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.
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.
The new year has begun on a positive note with vaccination drives in major economies as well as in India. The covid 19 incidence is seen receding and strong economic recovery was seen.