Business Daily from THE HINDU group of publications
Tuesday, Aug 29, 2006
Business Daily from THE HINDU group of publications Tuesday, Aug 29, 2006 |
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Markets
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Investment Banking Marketing - Market Shares D. Murali
Chennai , Aug 28 Kotak Mahindra Capital Company, Ernst & Young (E&Y) and Morgan Stanley are in the first three slots of the `M&A financial advisory league table' for the year 2005, according to Bloomberg. Of the total volume of $20 billion in 568 `India announced deals' that encompass `mergers and acquisitions (M&As), divestitures and self-tenders,' Kotak accounts for a deal count of 20 adding to $2.9-billion volume, or more than 14 per cent market share. In 2004 it was E&Y that was in first place, with 19 per cent share; Kotak hadn't figured in the top 20 league then. E&Y's deal count, at 50 in 2005, is the maximum number in the league table, but its market share has declined by 5.5 percentage points. Other major losers of market share are Ambit Corporate Finance Ltd (at rank 9), down from 16.3 per cent to 6.5 per cent; Citigroup (ranked 7th), down from nearly 14 per cent to less than eight per cent; PricewaterhouseCoopers (rank 12) slipping from 8.4 per cent to 2.7 per cent; and ICICI Securities Ltd (rank 6), from 13.3 per cent to 8.1 per cent. Apart from Kotak, a major gainer has been UBS, at rank 4, with a market share of 11 per cent with only four deals. DBS Group Holdings Ltd and Somerley Ltd, in ranks 10 and 11 respectively, and SBI Capital Markets, Bank Degroof and ABN Amro Bank NV, in ranks 13 and 14, are new entrants to the 2005 M&A league table, compared to that of 2004. Standard Chartered has improved its ranking from 10 to 8; and JP Morgan, from 19 to 16. Deutsche Bank AG has earned its rank 17 with a single deal for $300 million, improved its rank from the earlier 18, though with a marginal fall in market share. The last three ranks go to Dresdner Kleinwort Wasserstein, KPMG Corp Finance, and Deloitte Touche Tohmatsu. Quarterly volume analysis shows a spike in the third quarter of 2005, with more than $8-billion worth of deals. In comparison, the volume achieved in the whole of 2004 was $9.8 billion.
More Stories on : Investment Banking | Market Shares | Mergers & Acquisitions
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