Archive for January 31st, 2007

Tata eats Corus

First of all my apologies for not putting new content on the blog. I had just taken a few days off to my sleepy hometown where i forget all the problems I create for myself here in Bangalore. I just returned yesterday. Oh how lethargic I feel and how uninteresting it is to come out of the deep slumber and peace I felt in God’s own country. OK Life is like that and I accept it like that.

What all of us in India had been looking forward to (except the fact that Ms. Shetty bagged £ 100,000 from Celebrity Big Brother and possibly a series victory for the Men in Blue)
is finally announced . The suspense is over and Corus has found a suitor in Tata Steel. The Tata’s are thrilled to become the 5th largest Steel producer and the Indian public is thrilled and rightly so. India is not only an investment destination for Big MNC’s, It also produces powerhouses like Tata, Subex, ABG etc that have the guts to make big time acquisitions the world over. As an ordinary citizen of this country I am fortunate to be born here and I am proud of India and its people. While we continue to bask in the glory there are concerns in different quarters. Employees of Corus would be feeling the heat of possible job cuts(which the Tatas have denied) and the price of Tata Steel shares fell by over 8% in the BSE. Shareholders are sceptical about the pressure on Operating Margins of Tata Steel in the face of the expensive valuation of Corus. But I think these are knee- jerk reactions, lets give some more time to the management of Tata Steel and see what course of action they adopt.

Thank you Tata Steel for doing us proud. There is no doubt that India’s time has arrived and so lets not stop celebrating.

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