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Bulls may be fatigued on Dalal Street, but racing ahead on Deal Street
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India saw 161 deals worth over $13 billion in April, out of which 30 accounted for an aggregate value of $5 billion, says a report by consultancy firm Grant Thornton.
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Analysts attributed the spike in deal activity to the emergence of the digital theme.
NEW DELHI: Dalal Street may have turned choppy as India wrestles a devastating second wave of the Covid pandemic, but Deal Street is seeing brisk activity with private equity investments and merger & acquisitions hitting a decadal high in April.
India saw 161 deals worth over $13 billion in April, out of which 30 accounted for an aggregate value of $5 billion, says a report by consultancy firm Grant Thornton.
Deal numbers touch a decadal high in April despite 2nd COVID-19 wave
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Last Updated: May 11, 2021, 04:27 PM IST
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The total value of the transactions in April stood at over USD 13 billion, the report by Grant Thornton, a consultancy, said, pointing out that domestic M&A transactions led the pack by reporting over 30 transactions aggregating to USD 5 billion.
Agencies
IT and IT Enabled Services, e-commerce, education, manufacturing and energy and natural resources were the transaction torch bearers for the month in terms of deal values, the consultancy said.
Deal numbers, including private equity investments and mergers and acquisitions, touched a decadal high for any month at 161 in April, even as the country faced the second wave of the COVID-19 pandemic, a report said on Tuesday.
Deal numbers, including private equity investments and mergers and acquisitions, touched a decadal high for any month at 161 in April, even as the country faced the second wave of the Covid-19 pandemic, a report said on Tuesday. The total value of the transactions in April stood at over $13 billion, the report by Grant Thornton, a consultancy, said, pointing out that domestic M&A transactions led the pack by reporting over 30 transactions aggregating to $5 billion. Even though the second wave started earlier, the infections rose very fast across large parts of the country in April and the country has reported 4 lakh new infections and 4,000 deaths a day. The second wave has overwhelmed the healthcare apparatus in many places, and has led to localised lockdowns in 20 states which dent the economic activity.
NEW DELHI: Many Indian hospitals were scrambling for beds and oxygen as Covid-19 infections surged to a new daily record on Thursday, with a second wave of infections centred on the rich western state of Maharashtra.
India’s tally of total infections is second only to the United States, with experts blaming everything from official complacency to aggressive variants. The government has blamed failure to practise physical distancing.
The country has been producing oxygen at full capacity for each of the last two days but will have to turn to imports, with the health ministry saying it was planning to import 50,000 metric tons.