The first quarter of 2014 saw 57 M&A deals collectively valued at $ 4.9billion, a 12.7% increase in terms of value over the Q4 2013 value ($ 4.4billion), according to the recent Mergermarket report. S&R Associates tops the league table by value, over AZB & Partners. Amarchand Mangaldas tops the league table by volume with 7 deals leaving Luthra & Luthra and AZB & Partners at second and third spots respectively.