The month of October witnessed a 11 per cent rise in deal activities as compared to September 2021 and the deal volumes have also doubled on a year-on-year (YoY) basis, according to Grant Thornton Bharat Dealtracker.
The October M&A numbers were positively impacted by the acquisition of Air India by Tatas, and deals in start-up and IT sectors, the Dealtracker said.
It added that the economy is being bolstered by the rapid improvement in high-frequency indicators such as the e-way bills, GST collection, power demand, rail freight and exports growth. "The current pace is likely to re-establish economic growth momentum," said Shanthi Vijetha, partner at the Grant Thornton Bharat told news agency IANS.
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Also, positive domestic business sentiment across sectors and an economic recovery globally, continue to aid the overall trend, the Dealtracker added