International and Emerging Markets Blog
Thursday, October 13, 2011 | Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
M&A,
deals,
energy,
market,
Deal Tracker,
Grant Thornton LLP,
assets,
telecom,
tourism
Merger and acquisition (M&A) deal activity in the first nine months of 2011 totaled US$ 32.6 billion from 465 deals compared to US$ 42.4 billion from 511 deals during the corresponding period in 2010. While the first half of 2011 kept pace with the corresponding period of 2010 in terms of deal value, the M&A space witnessed a marginal setback in the third quarter of 2011 owing to European debt woes, S&P’s downgrade of US sovereign debt, rickety markets and tightening monetary policy in India.
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Thursday, October 13, 2011 | Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
economy,
growth,
India Watch,
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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Thursday, October 13, 2011 | Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
IFRS,
financial reporting,
GAAP,
XBRL,
MCA,
profit and loss accounts,
Schedule VI,
balance sheet,
New Schedule
The year 2011-12 was meant to be a turning point in India’s financial reporting and regulatory landscape. Lawmakers and standard setters in India had committed to update the old and somewhat archaic requirements to converge with International Financial Reporting Standards (IFRS), and to introduce new corporate and tax regulations by 2011. In 2008, the European Commission recognised that these changes were underway, and provided transitional relief for Indian companies reporting within the EU to use Indian GAAP financial statements on a temporary basis until 31 December 2011.
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Thursday, October 13, 2011 | Posted by: Grant Thornton
Categories:
India,
India Watch Issue 14
| Tags: India,
investment,
growth,
emerging markets,
GDP,
India Economy,
healthcare,
Capital goods,
FMCG,
IT services,
Listed Indian Companies,
equities,
developed countries
Indian markets have had a challenging 2011, first on domestic issues, and more recently on ‘global cues’. But how much will global events hurt Indian GDP and corporates? Not as much as expected.
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Thursday, October 13, 2011 | 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,
oil companies,
gas 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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