Latest news with #GrantThorntonBharat
Mint
7 hours ago
- Business
- Mint
India-UK FTA: Experts are bullish on these sectors, recommend top stocks that can benefit from the agreement
India-UK FTA: Various sectors and stocks from the Indian stock market will likely hog the limelight on Friday, July 25, when trading resumes on the bourses following the landmark free trade agreement (FTA) between India and the UK. The FTA, which covers a wide array of sectors, will cut tariffs for various British imports while 99% of Indian exports to the UK would see duties eliminated to zero, including for segments like textiles, leather goods, agri products, medical devices and drugs, as per the documents shared by Indian officials. Additionally, the India-UK FTA will make it easier for British firms to export whisky, cars and other products to the country. The FTA signed by the two countries is expected to boost bilateral trade by around $34 billion annually. The deal was signed by Commerce Minister Piyush Goyal and his British counterpart Jonathan Reynold in the presence of Prime Minister Narendra Modi and his British counterpart Keir Starmer. Analysts believe that the India-UK trade deal is a lesson in global economic diplomacy and India's growing prominence in global trade. It assumes even more importance for India as it negotiates a trade deal with the US amid tariff threats. Moreover, with the China-plus-one policy gathering steam, India has emerged as an alternative. Analysts said that for India, the FTA could lead to more exports and greater foreign investment. Harshal Dassani, Business Head, INVasset PMS, said the zero-duty access to UK markets for textiles, gems, jewellery, seafood, engineering goods, and pharmaceuticals comes at a time when global supply chains are seeking China+1 partners. The agreement isn't just a diplomatic milestone—it's a targeted economic catalyst for multiple Indian sectors, Dasani added. Meanwhile, Pallavi Bakhru, Partner and UK Corridor Leader, Grant Thornton Bharat, believes the India–UK free trade agreement marks a pivotal moment - not only for boosting bilateral trade volumes, but for sparking employment and industrial renewal across both economies. She added that this FTA could unlock £25.5 billion in annual trade. Analysts largely remain bullish on sectors like textiles, gems and jewellery, and seafood as the deal opens direct market access in these export verticals. Additionally, they are also bullish on the sectors like auto, pharma and agriculture that could benefit. According to the FTA, Indian farm products will get the same low-tax treatment as products from top European countries like Germany, with India securing zero duties on 95% of agriculture and processed food items. Against this backdrop, Mahesh Ojha of Hensex sees agriculture-related stocks seeing an upside. "Duty-free access is expected to increase agri exports by over 20% in the next three years, contributing to India's goal of $100 billion agri-exports by 2030," the official said. The CETA eliminates UK tariffs on India's marine products. Despite the UK's $5.4 billion marine import market, India's share remains at just 2.25%, underscoring a significant untapped opportunity. Against this backdrop, Dasani said marine exporters such as Avanti Feeds could scale volumes rapidly with tariff barriers lifted. Under the FTA, there will be no import duties on Indian textiles and leather, which will make India more competitive with other exporting countries like Bangladesh and Cambodia. Dasani said for labour-intensive sectors like textiles, companies such as Vardhman Textiles and Arvind will benefit from an 8–12% cost advantage over global peers, unlocking new export orders. Meanwhile, Ojha recommends Welspun India and Arvind. India's total gems and jewellery exports to the UK are valued at $941 million, with $400 million coming from jewellery. The FTA opens up a huge market as the UK imports approximately $3 billion worth of jewellery annually. According to officials, tariff relaxations under the FTA are projected to double India's gems and Jewellery exports to the UK within the next 2-3 years. Jewellery and gems players like Titan and Kalyan Jewellers will gain from duty-free access in a high-margin market like the UK, where Indian craftsmanship is already well regarded, Dasani recommended. From 16% to zero, tariffs have been eliminated on India's leather and footwear. Ojha expects Relaxo and Bata India to benefit from this agreement. Engineering and auto component firms, notably Bosch India and SKF India, will ride on increased machinery and precision equipment exports, aided by a trusted trading framework, said Dasani. India will cut duties to 10% from over 100% under a quota system that will be gradually liberalised. In return, Indian manufacturers will gain access to the UK market for electric and hybrid vehicles, also under a quota system. Meanwhile, Ojha recommends looking at Tata Motors, Bharat Forge and Sona Comstar. Under the trade agreement, tariffs on Scotch whisky will drop to 75% from 150%, and then slide to 40% over the next decade, according to the British government. This, according to Ojha spells good for United Spirits, a subsidiary of UK-based Diageo PLC. Further, the focus on services, defence, education, and climate opens up avenues for IT giants like Infosys and TCS through greater mobility and cross-border contracts, Dasani said. "As tariffs fall and credibility rises, Indian exporters gain pricing power, scale access, and long-term visibility—key ingredients for rerating export-heavy portfolios in 2025 and beyond," he added. (With inputs from agencies) Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
3 days ago
- Business
- Time of India
To develop & modernise city abattoir, BMC seeks partners
Mumbai: After BMC cancelled a Rs 402 crore tender for modernisation and development of Deonar abattoir in 2022, the civic body is now seeking interested parties for one of the country's largest slaughterhouse facilities, on a basis. Tired of too many ads? go ad free now According to BMC, inputs and suggestions from interested parties at stakeholder meetings will be considered for drafting the final tender. According to civic officials, the earlier tender for modernisation was cancelled due to the poor response, as the project proponent also had to carry out operation and maintenance. The tender process also attracted allegations of rigging and cartelisation, and BJP had alleged that tender conditions were tweaked to favour certain firms. BMC has appointed Grant Thornton Bharat as consultant for the proposed modernisation. The modernisation and development project aims to transform the existing semi-mechanised setup into a state-of-the-art, hygienic, and environmentally sustainable facility, which will cater to the meat demand in MMR, and to the export and value-added products market. The project includes development of dedicated units for slaughtering buffalo, goat/sheep, pig, and poultry, along with rendering and effluent treatment facilities with total slaughtering capacities from 1,100 buffaloes to 10,000 goats/sheep, 500 pigs, and 250,000 poultry birds per day, which will be equipped to meet future demand. According to civic officials, humane slaughter of animals, including automated electrical stunners, group stunning pens using captive bolt or electrical methods, and CO₂ stunning technology, which induces unconsciousness without physical restraint, will be elements of the project. The project, which will be implemented on a build, operate, and transfer (BOT) basis, is likely to have a concession agreement for 20 years. Tired of too many ads? go ad free now The PPP partner will build the facilities and provide slaughter and quartering services for locals at rates fixed by BMC and revised every three years. While the entire capital expenditure will be undertaken by the PPP partner, the partner will share a percentage of total revenue with BMC. A bio-methanisation plant, which will process biodegradable waste such as rumen contents, dung, agricultural residue, and wastewater from lairage cleaning, is also part of the project. Through anaerobic digestion, organic matter will be converted into biogas, which will be methane-rich. The biogas may be used to generate on-site energy for lighting, heating, and other utilities.
Time of India
17-07-2025
- Business
- Time of India
Private Equity infuses ₹4,900 cr in Indian Healthcare with 33 deals in Q2 CY25
New Delhi: In the second quarter of calendar year (CY) 2025, in the Indian Healthcare sector global and homegrown private equity firms have deployed a capital of around ₹4,900 crore ($580 million) in 33 deals spanning across Hospitals. Pharma and HealthTech, among others. According to a report from Grant Thornton Bharat, 'in Q2 2025 the Indian Pharma and Healthcare sector recorded a total of 33 PE deals of $580 million.' Against the previous quarter Q2 deal volumes declined by 21 per cent, while values saw a modest 3 per cent uptick—driven by a few mid-sized investments and stands as the second-highest quarter by value since Q2 2024. 'For the quarter PE activity clustered around a few high-confidence, institutional-grade platforms, especially in pharma manufacturing and hospital chains, signalling investor preference for scale, visibility, and IPO readiness,' the report noted. Of the total 33 deals, HealthTech accounted for the highest number with 10 deals, followed by Wellness (7), Pharmaceuticals and Medical Devices (5 each), and Hospitals with 4 deals. Major investments for the period includes US-based General Catalyst 's seed round investment of $218 million (around $18,500 crore) investment in PB Healthcare and Advent International's $175 million investment in Felix Pharma for a 'significant minority stake.' 'In this quarter Pharma and biotech led in value, powered by capital raises and strategic cross-border moves, while hospitals and healthtech platforms continued to evolve along distinct, high-potential growth paths.,' said Bhanu Prakash, Partner and Healthcare Services Industry Leader, Grant Thornton. 'As preventive care and digital health gain ground, we expect sharper, more focused bets in the second half of the year,' he added.
&w=3840&q=100)
Business Standard
16-07-2025
- Business
- Business Standard
₹6,500 cr realty shake-up: Commercial deals soar 2X, residential slumps
Commercial real estate commanded a lion's share of deal activity in the second half of 2025. According to data analysed by consultancy firm Grant Thornton , commercial assets accounted for a dominant 62% of the ₹6,500 crore in total transaction value in the second quarter, up sharply from 30% in Q1. The momentum is being driven by institutional capital flows into rent-yielding office and retail assets, even as residential and mixed-use deals lag behind. Supporting this trend, Grant Thornton Bharat's Real Estate Q2 2025 Dealtracker revealed that the sector recorded transactions worth $2.5 billion (approx. ₹20,875 crore) in the first half of the year. Although that marks an 8% decline from $2.7 billion in H1 2024, the volume of deals actually rose—from 40 last year to 45 this year—highlighting deeper market participation. Total Deal Value: $2.5 billion worth of real estate deals in H1 2025, down 8% from $2.7 billion in H1 2024. Deal Volume: 45 transactions in H1 2025, up from 40 in H1 2024. Commercial real estate accounted for 62% of ₹6,500 crore in total deal value in Q2 2025. Blackstone's $378 million acquisition of South City Mall, Kolkata — the quarter's largest private equity transaction Total Q2 investment stood at ₹6,500 crore, showing a measured slowdown in momentum. Top contributors included office, warehousing, and retail segments. Private equity interest remains strong, especially in income-yielding assets. Investors are focusing on core and core-plus strategies amid market uncertainty. Q2 Activity: 17 deals worth $1.3 billion, including IPOs and QIPs. Commercial Real Estate Dominance: Institutional capital continues to flow into commercial platforms. Capital Market Revival: Return of IPOs, SME REITs, and anticipation of India's largest REIT. Outlook: Sector poised for a more mature, innovation-led investment cycle in H2 2025. 'The data reflects a sector recalibrating for long-term strength,' said Shabala Shinde, Partner and Real Estate Industry Leader at Grant Thornton Bharat. 'While deal values moderated, institutional capital continues to flow steadily into commercial platforms, reinforcing the asset class' resilience.' Notably, the revival of IPO and SME REIT activity also signals increasing investor interest in structured real estate products. The anticipation of India's largest-ever REIT listing in the coming months is expected to further cement the capital market's role in funding real estate growth. In Q2 alone, there were 17 deals worth $1.3 billion, with IPOs and Qualified Institutional Placements (QIPs) returning to the fore. While residential deals declined slightly, commercial real estate saw strong activity across metros—driven by office parks, warehousing hubs, and retail portfolios with long-term lease visibility. With rising interest from global pension funds, sovereign wealth funds, and domestic institutions, the second half of 2025 is poised for a more mature, innovation-led investment cycle, say experts. The shift indicates a flight to stability amid global volatility, with Grade-A office assets and logistics parks emerging as preferred bets. In contrast, residential and proptech saw muted action Residential segment: Accounted for 23% of total deal volumes in Q2 2025. Contributed only 10% of the total transaction value, indicating smaller ticket sizes compared to commercial. Proptech segment: Made up 15% of total deal volumes. Represented just 5% of total deal value, reflecting modest deal sizes and lower investor allocation. Number of M&A transactions: 6 deals Total deal value: USD 195 million Annual change: A 45% decline compared to the corresponding quarter last year This reflects a significant slowdown in M&A activity, highlighting that strategic consolidation in the real estate sector took a backseat in Q2 2025.
Time of India
16-07-2025
- Business
- Time of India
Commercial assets account for 62% of ₹6,500 crore real estate deals in Q2 2025
NEW DELHI: India's real estate sector saw a measured slowdown in deal momentum in the second quarter of 2025, with total deal value declining 35% quarter-on-quarter to USD 775 million, even as institutional capital remained firmly behind commercial assets and structured investments, according to a report by Grant Thornton Bharat . A total of 17 deals were recorded in the quarter, down from 28 in Q1 2025, marking a 39% drop in overall volumes. Despite the decline, the quarter was underpinned by a few large-value transactions that together contributed over 90% of the total deal value. Blackstone's USD 378 million acquisition of South City Mall in Kolkata emerged as the standout deal, reinforcing investor preference for operationally stable, income-yielding assets in retail and commercial segments. Commercial development shines; residential, tech taper off Commercial development led the charge in Q2, accounting for 38% of all deals and 62% of deal value. Apart from Blackstone, the Prime Offices Fund 's USD 87 million investment in Prius Platinum, a Grade A office property in South Delhi, added to the segment's strength. In contrast, residential and proptech saw muted action. Residential assets accounted for 23% of volume but just 10% of value, while proptech slipped to 15% of volume and 5% of deal value, down sharply from the previous quarter's highs. Notably, Lighthouse Funds backed Knest Manufacturers with a USD 35 million cheque, and Qatar Development Bank supported Alt DRX, a tokenised property platform, signalling early bets on digital disruption. M&A resilient in value, weaker in volume Mergers and acquisitions recorded six deals totaling USD 195 million—a 45% decline in volume from Q1, but a 42% jump in value. Domestic consolidation drove most of the activity, with Max Estates' acquisition of Boulevard Projects in Noida for USD 161 million leading the chart. Inbound and outbound activity remained subdued for the second consecutive quarter, underscoring a growing domestic orientation in dealmaking. A rare cross-sector move saw DPF Textiles acquiring CCCL Infrastructure, marking a diversification into real estate from manufacturing. Private equity cautious, capital markets rebound Private equity deal count fell to seven, compared to 17 in the previous quarter, but one large transaction—Blackstone's South City Mall deal—accounted for much of the USD 580 million invested. Overall, PE volume declined 59%, and value dropped 45% quarter-on-quarter. On a brighter note, the capital markets began stirring. Two IPOs and two QIPs were completed in Q2, raising USD 243 million and USD 245 million respectively. Kalpataru alone secured USD 268 million through both routes. In a significant development, an SM REIT also received SEBI nod, pointing toward increasing democratization of income-generating real estate platforms. Outlook: cautious optimism for H2 2025 The report notes that investor sentiment is shifting toward fewer but larger bets, favouring commercial resilience and platforms with scale. With India's largest-ever REIT IPO expected in H2 and sustained traction in SM REITs, the ecosystem is evolving toward deeper capital markets participation. 'Commercial real estate continues to anchor the growth narrative even as other segments witness recalibration. The cautious optimism is supported by strategic interest in platform-led growth and yield-focused investments,' said Shabala Shinde , partner and Real Estate Leader, Grant Thornton Bharat LLP.
