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Tata Steel, India's largest steelmaker, has consolidated all its overseas assets including Corus under a new holding company, Tata Steel Global, to raise funds for its overseas expansion including future acquisitions.
Mistry's intention of selling ailing steel maker Corus, Tata's so-called feather in the cap, was one reason for his ouster
They were touted as prestigious takeover trophies won abroad, but there is no mention of the Tatas at the Internet addresses of luxurious car brands Jaguar and Land Rover.
Over the past two years, Tata has invested in over 20 start-ups
Thanks to its acquisition of the Corus group, Tata Steel has made it to the Fortune 500 list even as India's largest corporate Reliance Industries climbed 63 places up to 206th rank. Companies qualify to the list on the basis of their revenues.
The Mukesh Ambani-led Reliance group ended 2007 by overtaking the Tata group in market capitalisation stakes and this despite the latter's acquisition of Corus steel. Last year's number one, the Tata group, is now a distant number two with a market capitalisation of Rs 3.20 trillion.
Commerce and Industry Minister Kamal Nath on Wednesday said the Tata's acquisition of Corus was a sign of India's economic strength.
The European Union has said the recent big ticket merger and acquisitions between Indian and European companies including Tata-Corus and Vodafone-Hutch would pave the way for greater economic integration
Brazil may overtake India in the global steel space if Latin American firm CSN manages to acquire Corus - a development that could dash Tata Steel's chances of becoming the world's fifth largest steelmaker.
Overseas expansion by Indian companies can leverage India's comparative advantage.
Anand remained on 4 points from his eight games and his chances of a victory have been almost blown away.
In Group C, Parimarjan Negi drew with Stellan Byrnell and moved into joint lead.
The Indian ace maintained his lead in the Corus chess tournament with an easy draw against Grandmaster Michael Adams.\n\n
The Indian ace won the first game with black pieces and then drew the second with white to score over the Bulgarian.
Tata was concerned that most innovations were happening outside India, some by Indians.
To say that Ratan Tata leaves behind a huge legacy would be a gross understatement.
While the jury is still out on how Tata has done in his global ventures, the fact is they have been bold, but not necessarily beautiful.
Some feel that Tata Steel has put these assets on the block only after exhausting all the options.
'I think Ratan felt he had to do everything that he could to retain control of the company started by his forefathers, because that was the first priority and nothing else mattered compared to that.'
Dividend distribution tax in FY20 would only be applicable after deducting Rs 70 received from the foreign subsidiary, meaning 20.56 per cent DDT would be paid only on Rs 30.
At present, when Indian corporates declare dividends, a dividend distribution tax is slapped at 15 per cent.
The new coalition government headed by prime minister David Cameron is determined to have 'very good relations' with India's Tata Group, owners of Jaguar Land Rover and Corus, British business secretary Vince Cable said on Thursday.
Dispute relates to premature termination of a deal to buy TCP steel
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
The Tata Group had acquired its UK steel operations as part of a 6.7 billion pounds acquisition from Anglo-Dutch steelmaker Corus in 2009.
Victory continued to elude Viswanathan Anand in the Corus chess tournament. The World champion was forced to settle for yet another draw, this time against Dutch Sergei Tiviakov in Group 'A'. However, Parimarjan Negi outwitted Dutchman Dmitri Reinderman in Group 'B' in the ninth round of match that concluded in Wijk Aan Zee.
Teesside, located in the north-east region of the UK, is an important part of the Tata Group's business presence abroad. It also has two contrasting tales for India's largest business group.
The announcement evoked a sharp response from the UK and Ireland's largest trade union, Unite, which said it would fight for every job and demanded that there would be no compulsory redundancies from Tata Steel.
Viswanathan Anand's quest for an elusive win continued unabated as the Indian split points with Hungarian Peter Leko for his fifth draw on the trot in the ongoing Corus Chess tournament in Wijk Aan Zee, The Netherlands.
World champion Viswanathan Anand settled for his third successive draw, but P Harikrishna and Abhijeet Gupta posted wins in their respective groups on a reasonably good day for the Indians in the third round of the Corus Chess Tournament in Wijk Aan Zee, The Netherlands.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
SAIL currently employs a little under 1,21,000 people. The freshers, to be roped in as management trainees (technical and administrative), would handle the extended operations of the company in near future. The company is in the process of expanding its production capacity to 26.3 million tonnes by 2010-11 for which its would be spending in excess of Rs 78,000 crore.
Indian companies may be embarking on ever more audacious international megadeals, inspired by aggressive empire-building ambitions rather than by the solid commercial logic and a careful appraisal of investment returns that have characterised past Indian acquisitions abroad.
Essar Steel is likely to join the race for Brazilian miner and steelmaker CSN's Nacionale Minerios (Namisa), a fully integrated iron ore company. Sources close to the development said Goldman Sachs has approached Essar with the acquisition proposal and the company was considering it.
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