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Indian companies perform well in January-March quarter, deals increase to $ 13.3 billion

Indian Companies Contract: The ‘deals’ of Indian companies increased year-on-year to $13.3 billion in the January-March quarter. A report said that there was an increase in deals both in terms of number and value during the quarter. According to a report by advisory firm Grant Thornton, in the first quarter of this year, Indian companies made 608 deals worth $13.3 billion. There were 408 deals worth $12.1 billion in the same period last year.

decline compared to the previous quarter
However, compared to the previous quarter i.e. December quarter, deals declined by nine per cent in volume terms and 27 per cent in value terms.

“In spite of post-pandemic difficulties and other uncertainties, companies remain optimistic about the prospects of a strong economy. We expect bargaining activity to continue in the remaining months of 2022,” said Shanti Vijeta, partner at Grant Thornton. There were 167 merger and acquisition deals worth $3.9 billion in the quarter under review. The report said that there was a significant increase of 55 per cent in volume-wise deals during this period. This was helped by a 64 per cent increase in deals domestically.

Agreement between Google and Bharti Airtel
According to the report, in the quarter under review, Google signed an agreement to acquire 1.28 percent stake in Bharti Airtel for $ 700 million. The total value of private equity (PE) investment deals increased in the March quarter. There were 441 deals worth $9.4 billion in PE investments. The startup, e-commerce and IT sectors had 479 deals worth $8.5 billion during the quarter. This is 79 percent of the total deals and 64 percent of the value of the deals.

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