RATAN JINDAL'S UNALLOYED CHARM
Article Abstract:
Ratan Jindal, the Managing Director of the Rs1,100-crore stainless steel company, Jindal Strips, has managed to notch up gross profit of Rs105 crore in the first nine months of 1998-99. He made the Jindal Strips the only other company, apart from Tata Iron & Steel, to make profit in the recession-ridden industry. He is also expected to head the Rs3,000 crore group after his father. Ratan Jindal, on taking over Jindal strips, cleared the balance sheet and the financial mess in the company. Investments, amounting to Rs100 crore, including that in Jindal Vijayanagar Steel Ltd (JVSL) were sold to other group companies. Jindal Strips cold-rolled coils division was sold to Jisco, a group company, for Rs76.2 crore. The sponge iron division with a captive power plant was spun off into a new company, Jindal Steel & Power. Jindal Strips will retain 75 percent of its turnover and profit and will focus on stainless steel only. The company is one of the lowest cost producer of stainless steel. with this advantage, Jindal slashed prices so much that imported steel could not match them. (uh)(psr)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1999
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COMING SOON: RATAN TATA'S A-TEAM
Article Abstract:
The Tata Group plans to set up a corporate office under the leadership of Mr Ratan Tata. The office will have four or five executive directors. Each executive director will be responsible for certain businesses. The Tata Group comprises of over 80 companies involved in over 25 different businesses. The corporate office will evolve a common code of conduct and a group identity for the various companies under the group. It will be responsible for human resource development, succession planning and corporate communications. Mr Ratan Tata plans to reduce the size of the group to 30 companies. He plans to focus on 10-12 core areas. The corporate office will devise the strategy and provide direction to the core businesses of the group. (vv)
Comment:
Plans to set up a corporate office under the leadership of Ratan Tata
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1998
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RATAN TAKES INDICA, SUV TO GENEVA SHOW
Article Abstract:
Mr Ratan Tata, the chairman of Tata Group plans to exhibit Tata Engineering and Locomotive Company's small car, Indica and sports utility vehicle (SUV), Safari at the Geneva Motor Show. Earlier, the Safari and Indica were exhibited at Birmingham, Bologna, Madrid and Turin. They will be exhibited at Malta and Barcelona also. The Tata group does not intend to export Indica and aims to cater primarily to the domestic demand. However the company plans to export Safari since it is well suited for European markets. (um)(vr)
Comment:
Mr Ratan Tata, the chairman of Tata Group plans to exhibit Tata Engineering and Locomotive Company's small car, Indica and sports utility vehicle (SUV), Safari at the Geneva Motor Show.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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