  Monolayer and multilayer MoS$_2$ are extremely fascinating materials for the
use in lasers, compact optical parametric amplifiers, and high-power detectors
which demands high excitation light-matter interaction. Consequently, it is
essential to understand the carrier dynamics in both the cases at such high
excitation densities. In this work, we investigate the carrier dynamics of
monolayer and multilayer MoS$_2$ at photo-doping densities around Mott Density.
It is observed that, despite the similarity in band structure near K-point and
formation of A-exciton, a substantial difference in the carrier dynamics is
observed reflecting the influence of the entire band structure. The exciton
dissociation, bandgap renormalization, and intervalley relaxation play a
consequential role in dictating the ultrafast transient properties of these
samples. The study in this paper provide a substantial understanding of
fundamental optoelectronic properties of the two-dimensional MoS$_2$, paving a
way for its potential applications in various photonic and optoelectronic
domain.
