‘Spending the 31st night at home for the first time since the last 10 years’ – This was the latest Facebook update of one of my friends who works with a mid-sized investment banking boutique firm in Mumbai. The poor guy had just been retrenched by his employer citing weak business. If you look at
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For quite some time now financial experts have been predicting that the M&A scenario in India will significantly improve. Investment bankers have already run the ‘India growth’ story ragged and investment banks are again on a hiring spree expecting an increase in the deal flow. But factual data suggests otherwise! According to the ISI emerging markets The first quarter of 2011 saw a decline of more than 60% in the number of M&A deals as compared to the earlier quarter (Q4 2010) as high valuations and increasing uncertainty about macroeconomic factors such as fiscal deficit, interest rates and inflation made corporates watchful. As per ISI emerging markets database, Some time back there was this interesting quote in the newspapers: “Onion Rs 65/kg, Petrol Rs 65/litre, Beer Rs 65!”, where in for the first time need, comfort and luxury demanded the same market price. That is assuming onions are still a basic need! Inflation has been steadily increasing since With the recovery in stock markets and overall economy, calendar year 2010 saw investment bankers smiling all the way to the bank as Indian M&A activity increased by nearly 80% over the last year and by more than 100% over calendar year 2008. As per ISI emerging markets database, 392 deals were announced |
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