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Article: Stormrider ; R. Mukundan, who took over at the helm of Tata Chemicals at a time when the global credit crisis was peaking, has been able to pull off something many CEOs have been unable to: Manage global acquisitions made in boom times.
- Article from:
- Business Today
- Article date:
- October 18, 2009
- Author:
CopyrightCopyright 2009 Business Today. Provided by ProQuest LLC. (Hide copyright information)
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A couple of years ago, any billion-dollar, or over, acquisition
overseas was hailed as the arrival of India Inc. on the global
stage. Then came the global recession, and acquirer after acquirer
stumbled, as demand conditions softened, and the debt used to
finance these transactions became the proverbial millstone around
the necks of acquisitive promoters. Suddenly yesterday's gung-ho
globalisers were transformed into clueless adventurists. Tata Steel,
Tata Motors, Hindalco, Suzlon ....it's a long list of India's
largecap cream that was tarred with the brush of apparently
recklessness.
Not too many of India's big league have been able to buck that
trend. If there's one in the top tier that ...