Mergers and acquisitions (M&As) by Indian companies have declined sharply by 80 per cent so far this year, in contrast with the same period last year, as bankers predict lower deal volumes due to falling profit margins of Indian companies and feeble stock markets. The decline in Adani Group shares has also hit buyer sentiment. According to data from Refinitiv, M&As in India stood at $3.3 billion from 253 deals, year-to-date (YTD) - a fall of 80 per cent year-on-year (YoY). Cross-border deals by Indian companies were also down 84 per cent to just $1.5 billion.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
Ram Madhav has also been assigned the task of coordination with Jammu and Kashmir government, where BJP shares power with PDP.
This is a shift as until recent months, fund managers were reducing exposure to these sectors.
Exodus of top managers an unintended side effect of roaring MF industry
Of the 70 international feeder funds, more than half have made losses in 2014.
India put up a dull performance among emerging economies this year.
Focus on large-caps and ensure that the portfolio is balanced.
Experts believe that one should not allocate more than 5-10 per cent of one's equity portfolio to international funds.
Large-cap scrips are still trading at a discount to mid-caps.
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