Business news India: Latest India business news headlines today 7 June 2021

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Here’s today business news, the latest business news India today 7 June 2021.

  • Outreach, a sales engagement platform provider, has reportedly closed a $200 million round of funding led by Premji Invest and Steadfast Capital Ventures at a valuation of over $4.4Billion. It has so far raised $489 million.
  • DoT may seek Trai to unveil a comprehensive discussion paper on a new licensing framework for LEO operators.
  • Paytm is said to have reported a consolidated loss of Rs.1704 crores for 2020-21. It had reported a loss of Rs.2943.32 in fy 2019-20.

latest business news india today 7 june 2021

  • Avigna group will reportedly invest approx. Rs.800 crores for developing industrial and warehousing parks in Tamil Nadu and Karnataka during the current FY.
  • SIDBI on behalf of the government has reportedly invited bids from consultants to help set up Rs.20,000 crores DFI called NaBFID (National Bank for Financing Infrastructure and Development) to catalyze investment in the fund-starved infrastructure sector.
  • Emami has reportedly raised product prices in the current fiscal on an average of 4% to offset input cost pressures. This is expected to help company retain a gross margin of 66-67%.

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  • As part of its privatization initiative, the central government may reportedly sell its stake in the Central Bank of India and Indian Overseas.
  • Varde Partners, a global PE fund, will reportedly invest Rs.150 crores in Reliance Infrastructure for a 7% stake.
  • Cellular Operators’ Association of India has reportedly said that any concern around impact of 5G on health is totally misplaced.
  • Reckitt Benckiser will reportedly replace Dettol’s logo with photos and stories of unsung Covid-19 protectors.
  • Tata Steel Mining Limited has reportedly been declared as the successful resolution applicant by Rohit Ferro-Tech’s creditors.

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  • ET reported that “some content producers and middlemen are forging letters of intent and approval letters of (OTT platforms like Netflix and MX Player to raise funds or negotiate better deals with competitors in a new type of scam in the Indian entertainment industry.”
  • One97 Communications, operating Paytm, is reportedly set to extend Rs.743 crore funding to two companies owned by Paytm founder Vijay Shekhar Sharma ahead of its $3 billion planned IPO.
  • IFFCO is said to have started commercial production of nano urea liquid.
  • Bharat Biotech is reported to have started clinical trials ‘Covaxin’ on children in the age group of 12-18 years in Nagpur, Maharashtra.

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