M&As in India collapse 76% in H1 2023 on global macros, Hindenburg

In May last year, Adani Group was the major player in M&As by buying Ambuja Cement in a $10.5 billion transaction

The value of mergers and acquisitions in India fell sharply by 76 per cent in the first half of 2023 to $3.2 billion when compared to the same period of last year. A total of 1,201 deals were announced between January and June this year as compared to 1,914 transactions, worth $13.42 billion, announced in the first half of 2022, according to the data sourced from Bloomberg. The decline is despite the stock markets touching a new high on Wednesday and chief executive officers expecting the economic momentum to continue. Apart from rising rates, an adverse report by US-based short-seller