This study tries to find out the impact of merger on market-based and accounting-based indicators simultaneously. To fulfil the objectives of this study 10 companies are taken into consideration from the financial year 2018-19 where, a data range of 5 years before and 5 years after of that financial year can be taken into consideration. Total 7 variables were considered here to analyse the impact of merger, out of the total seven variables/indicators belonging from market-based and accounting-based, market capitalisation improves in each time horizon but another market-based indicator enterprise value improves in long and medium-term but not in short-term. Accounting indicator like return on capital employed and return on total assets, current ratio, quick ratio improves in long and medium-term but not in short-term but debt to equity ratio shown an improvement from the short-term period and continue its improvement till long-term. So, majority of the variables shown the positive impact of merger after a certain time period mainly after 3 years but the improvements are not significant in each of the time periods.