Grant Thornton

Indian tech sector saw deals worth $635 mn in Sep quarter: Grant Thorton

Indian Tech sector witnessed deals worth USD 635 million in July-September period of 2024, registering a 31 per cent increase in value year-on-year, a recent report has revealed. Consultancy firm Grant Thorton Bharat's Q3 Dealtracker report for the tech sector said the quarter witnessed the highest deal volumes since Q2 2023 but the lowest for the year 2024, reflecting more strategic investments rather than large-scale acquisitions. Grant Thornton Bharat Partner Raja Lahiri said the recent interest rate cut by the US Fed, coupled with India's post-election stability, has infused new momentum into the deal landscape, with notable value and volume growth. "With the elections behind in India, we saw an increase in deal activity both in terms of volume and value compared to the previous quarter. "Q3 2024 witnessed 79 deals valued at USD 635 million, representing a 5 per cent increase in volumes and a 31 per cent increase in values," he said. Out of the total deals, 12 were valued at a

Percentage of women in senior management falling since 2021: Grant Thornton

The dip was attributed to the 'evolving landscape of work models across industries'

M&As register huge drop in 2023, overall deal values halve to $66 billion

Deal values in India more than halved in 2023 to USD 66 billion despite high growth, as investors took a wait-and-watch approach, a report said on Friday. From a volume perspective, there were 1,641 deals -- a drop of more than 20 per cent over 2022 -- the report by consultancy firm Grant Thornton Bharat said. The firm's partner Shanthi Vijetha said lack of liquidity in international markets, volatile market conditions, and cautious investor sentiment hindered deal activities in 2023. "As India's emphasis on sustainability and environmental responsibility positions it as an attractive hub for opportunities in the global economy, we must first overcome challenges such as currency strength and global instability," Vijetha added. Merger and acquisition deal values dropped 72 per cent to USD 25.2 billion across 494 transactions, impacting the overall number the most, the report said. Outbound M&As were at USD 3.2 billion -- as against USD 17.9 billion in the year-ago period -- were ..

NFRA finds certain lapses in audit quality of Walker Chandiok - Co

The National Financial Reporting Authority (NFRA) on Friday found certain lapses in the auditing-related activities of audit firm Walker Chandiok & Co LLP during detailed audit quality inspections. The regulator initiated an audit quality inspection of Walker Chandiok & Co LLP in December last year and covered various aspects, including a review of firm-wide quality controls to evaluate their adherence to Standards on Quality Control (SQC-1) and review of selected audit documentation of the annual statutory audit of financial statements for the year ended March 31, 2021, as per the order. The regulator has flagged several deficiencies, where the audit firm failed to adhere to some of the prescribed 'client acceptance and continuance' prerequisites, including verifying the client's integrity and recording the resolution of concerns. NFRA observed that there was a discrepancy between the disclosures made by Walker Chandiok & Co LLP (WCCL) and Grant Thornton Bharat LLP (GTBL)

Healthcare and pharma sector sees surge in high-value deals: Report

The Private Equity (PE) sector experienced a decline in both values and volumes compared to the previous quarter

Corporate India's deal activity jumps 58% to $3.1 bn in Jul: Report

Corporate India's deal activity witnessed a 58 per cent jump in value terms to USD 3.1 billion in July, largely driven by big-ticket transactions, while caution in the private equity world led to a reduction in overall volumes. According to data collated by Grant Thornton, the month of July recorded 95 deals worth USD 3.1 billion, registering a 46 per cent plunge in volume terms and 58 per cent increase in value terms. Shanthi Vijetha, a partner at the consultancy, said the impact of the global slowdown is visible in the deal street which has been subdued since the beginning of the year. While cross-border transactions propelled the surge in deal value, caution in the private equity world led to a reduction in overall volumes, Vijetha said. This surge in deal value was anchored by 29 deals valued at USD 2 billion, where six high-value transactions encompassing traditional sectors like IT, auto, retail, and manufacturing took the centre stage. The deal value was driven by Proximus

Top professional services firms ramping up hirings from premier UG colleges

Grant Thornton has increased its intake from UG colleges by more than double this year. In a similar trend, PwC has also ramped up its hiring of non-engineers from UG colleges

Real estate sector likely to grow nearly 18% by 2030: PHDCCI report

The report also talks about the relationship between ESG and carbon footprint

Adani says appointment of Grant Thornton as auditor 'market rumour'

Adani group's flagship firm on Thursday termed as 'market rumour' reports of the embattled group hiring Grant Thornton to audit books in the aftermath of the Hindenburg crisis. In a stock exchange filing, Adani Enterprises said the reports "appears to be a market rumour and hence it would be inappropriate on our part to comment on it." On Tuesday, sources had stated that the group has appointed accountancy firm Grant Thornton for an independent audit of a few of its companies to come clean after the allegations levelled by US short-seller Hindenburg Research and to assure investors and regulators. The audits, the sources had said, was to specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for. The market value of the group's listed companies has halved since the January 24 report by Hindenburg Research alleging that Adani pulled the largest con in corporate history using offsh

Adani Group denies reports of hiring Grant Thornton for audits amid crisis

Adani Group | Grant Thornton: Media reports suggested that embattled Adani Grpup had appointed accountancy firm Grant Thornton for an independent audit of a few of its companies in a bid to come clean

Down 66% YoY, total deal value in Q3FY23 second lowest since 2017: Report

According to Grant Thornton Bharat's Dealtracker September 2022 report, a total of 450 deals worth $10.2 billion were recorded in Q3FY23, 25 per cent below the 600 deals recorded in Q3FY22

Deal values halve to $4.1 billion in August, says Grant Thornton Bharat

Deal activity in India halved to USD 4.1 billion in value terms in August 2022 and witnessed a nearly 40 per cent slump in terms of volume, a report said on Thursday. When compared with the preceding month of July, the August deal volume at 131 transactions, witnessed a 23 per cent decline but the value more than doubled due to two deals that were valued at over USD 1 billion, Grant Thornton Bharat, a consultancy firm, said. "The downtrend in deal activity appears to be due to the cautious approach of buyers and investors in committing large capital, given the global macroeconomic scenario and capital market conditions," its partner Shanthi Vijeta said. The deal activity seems lower partly due to non-disclosure of values in most of the merger and acquisition deals, Vijetha added. There were 21 deals valued at USD 1.5 billion on the merger and acquisition front, which included the USD 1.3 billion JSW Energy-Mytrah Energy transaction, it said, adding that while the volume saw a ...

Indian Railways plans to revamp passenger reservation system: Report

The Passenger Reservation System (PRS) of the Indian Railways is all set to undergo a revamp, a move that can help weed out 'malafide users'

Grant Thornton partners with JLU to open India's first analytics centre

The University signing a memorandum of understanding with Grant Thornton on establishing India's first ever Centre for Analytics is sure to open multiple pathways for the youth of this country.

Adani's $10.5-bn Holcim acquisition doubles India Inc's deal value in May'

On the merger and acquisition side, there were 40 transactions in May 2022, aggregating to USD 11.9 billion and more than a fourth of those came from the startup sector

HDFC Bank, HDFC merger takes April deal volume to record $46.3 bn: Report

The same number had stood at $12.91 billion in the year-ago period and $8.7 billion in 2020, the report by Grant Thornton Bharat said

Make investments more attractive in pharma sector: Pre-Budget survey

A pre-budget expectations survey showed increasing demand for making investments more attractive in the pharmaceutical industry.

India Inc's biz sentiments drawing closer to pre-pandemic level: Survey

India Inc's business sentiments are drawing closer to pre-pandemic levels, hinting at a more robust performance in the next quarter, according to a survey by Grant Thornton Bharat

Four years after Modi push, no Indian firm in top league of auditors

Some prime slots are at best held by Indian arms of foreign firms with roots in Europe; govt itself favours the big four for mega advisory roles like disinvestment or asset monetisation

Govt's scheme for FPOs/FPCs catches eye of KPMG, EY, and Grant Thornton

The NPMA will provide project guidance, data maintenance, and monitoring to the 10,000-odd FPCs.