International and Emerging Markets Blog
Monday, January 16, 2012
| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 15
| Tags: India,
economy,
Grant Thornton,
performance,
India Watch,
growth,
emerging markets,
inflation,
India Economy,
interest rates 2011,
India Economy 2011,
inflation 2011,
interest rates,
Rupee Devaluation 2011,
political direction,
economic advisory council,
Rupee,
stock exchange
As we enter what will hopefully be a more promising year in economic terms for many of the world’s economies, let us take this opportunity to take a look back at the year just passed.
2011 was somewhat of an annus horribilis, with natural disasters in Japan and New Zealand, political uprisings across North Africa, riots in some of the UK’s major cities and what could still be, an economic time-bomb in the form of the Euro-zone debt crisis. All these factors, and many others, led to the continued economic uncertainty seen in both 2009 and 2010, and India, like many other emerging markets was not immune to the global economic turmoil.
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 15
| Tags: India,
Grant Thornton,
performance,
India Watch,
emerging markets,
FTSE,
London Stock Exchange,
India Hospitality Corp,
private equity,
economic growth,
iEnergizer,
london markets,
sector trends
Indian SMEs outperformed other small caps on the London markets in 2011, despite an overall muted performance across all indices. Year-end figures suggest the UK capital is still a strong contender for Indian businesses seeking markets in which to raise finance.
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Tuesday, October 25, 2011
| Posted by: Fiona Cullinan
Categories:
India
| Tags: business,
India,
India Watch,
LSE,
data,
subscribe,
India Economy,
index,
India GDP
Grant Thornton’s quarterly India Watch, in association with the London Stock Exchange (LSE), is a valuable information source for anyone involved in UK/India business. If you’d like to receive information on Indian companies listed on the London markets, M&A and financial reporting news, and expert analysis on the Indian economy, here’s how to get our next bulletin delivered to your inbox …
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Thursday, October 13, 2011
| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
economy,
India Watch,
growth,
inflation,
FTSE,
economic growth,
IMF,
growth rate,
Dow Jones,
Indian Rupee
As we enter the final quarter of 2011, the world’s economies remain on a knife edge. Economic concerns coming out of the US and the eurozone continue to cause uncertainty across global markets. These effects can be clearly seen across the world’s market indices. For example, in the year to date, the Dow Jones has seen a fall of nearly 6%, the FTSE 100 a 12% fall and India’s Sensex Index is down a remarkable 23% (with the last quarter seeing the worst fall for almost 3 years).
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
Grant Thornton,
India Watch,
investors,
Capital Markets,
FTSE,
London listing,
Real Estate,
equity,
gas companies,
oil companies
The India Watch small-cap index* outperformed all major London indices in the third quarter of 2011, falling by only 8.12% compared to the FTSE 100 (-13.74%) and FTSE AIM 100 (-20.6%).
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Saturday, July 16, 2011
| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 13
| Tags: India,
India Watch,
UK,
South Asia Group,
AIM,
Capital Markets,
Hugh Sandeman,
liquidity,
PLUS,
main market,
raising finance
One of the first things that investors ask Indian companies planning a London listing is how this fits with their financial strategy. They’re not expecting a single answer to this question: it can make just as much sense for a domestic Indian power generator to go offshore and IPO in London, as it can for an Indian company with global ambitions and operations. But what investors do want to hear is that the Indian promoter is going to put his or her full confidence in the long term in the London market as the vehicle for growing their company.
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 13
| Tags: India,
economy,
China,
India Watch,
growth,
UK,
South Asia Group,
Anuj Chande,
Capital Markets,
inflation,
Reserve Bank of India,
RBI
This halfway point in the calendar year provides us with an ideal opportunity to review India’s economic and political status over the past few months and also to look forward to what the remainder of the year might have in store.
There seems no better item to start with then what has now become a fairly routine announcement from the Reserve Bank of India (RBI). Last month the RBI raised interest rates for the 10th time in 18 months. The repurchase rate was raised by 25 basis points to 7.5% as the RBI continued to try and curb inflationary pressure. As with the first quarter of the year, wholesale-price inflation (around 9.1% year-on-year to the end of May) continues to be fuelled by high oil prices and strong domestic demand.
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 13
| Tags: India,
China,
India Watch,
M&A,
UK,
mergers,
acquisitions,
sector,
Competition Commission of India,
value, deals
Against a backdrop of economic uncertainty in certain European regions, as well as moderating growth and demand, increasing interest rates, inflation issues and the merger control provisions being notified by the Competition Commission of India, M&A activity in India in the first half of 2011 has resiliently kept pace with 2010 levels, in line with our expectations.
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 13
| Tags: India,
economy,
Grant Thornton,
performance,
India Watch,
UK,
South Asia Group,
AIM,
IPO,
London listing,
share price,
PLUS,
capital markets,
main market,
raising finance,
equity
The Grant Thornton India Watch Index* showed the strongest performance in H1 2011 of all the major London indices, with a positive performance of 2.65%. This compares to FTSE 100 (0.78%) and FTSE AIM UK 50 (1.17%) and the falling AIM 100 (-8.54% ) and FTSE AIM All-Share (-8.10%).
Interestingly, since the start of the financial crisis in late 2008, the Grant Thornton India Watch Index has gained 142.85%, followed by the FTSE AIM ALL-SHARE (117.58%) and FTSE AIM 100 (112.46%) respectively, highlighting the sustained growth of the AIM market.
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| Posted by: Grant Thornton
Categories:
India,
India Watch Issue 13
| Tags: India,
India Watch,
UK,
Grant Thornton India,
South Asia Group,
South Asia,
legislation,
wealth,
companies,
Direct Tax Code,
Wealth Tax Act 1957,
Tax Act 1961,
ITA,
DTC,
individual,
laws
It is regarded by some commentators as one of the most substantial changes to India’s tax system and will have significant implications for companies operating in and out of India on a cross-border basis. The newly proposed Direct Tax Code (DTC) is to replace the existing Income Tax Act, 1961 (ITA) with effect from April 1, 2012. The DTC is being introduced to integrate all direct tax laws (ITA and Wealth Tax Act, 1957) under a single legislation, to simplify the language, to reduce the scope of litigation and to provide stability in direct tax rates. Below we highlight some of the proposed changes.
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