For a change, today’s newspaper headlines are unanimous. They all hail Tata Steel as the new Indian champion – albeit in corporate sector. Expectedly, many hitherto unknown facts have come to the fore, among which is Tata Steel’s gatecrashing into Fortune Global 500 list.
Fortune publishes the list once a year, so saying that Tata Steel now occupies 268th position just behind Coca-Cola is only a conjecture. That said, let’s now see what it means after Tata Steel has bagged Corus Group plc.
For one, Tata-Corus duo, with world’s 5th largest steel-making capacity, will be the 8th steel-entrant in Fortune 500 list. It will be 7th Indian company to make the list and 2nd non-PSU to make the grade.
Entering Fortune 500 is one, slotting 2nd in the list of Indian companies in that exclusive club is another. Tata Steel will be behind IndianOil, but ahead of Reliance Industries, BPCL, HPCL, ONGC and SBI in that order.
There is a strange reverse coincidence in the last 2 days in that while Tata Steel defeats Brazilian steelmaker CSN to capture Corus, in its backyard in Tata Football Academy’s sprawling ground in Jamshedpur, it’s Brazil’s Sao Paolo team that thrashes Mohammedan Sporting 6-0 in yesterday’s match. Sweet revenge, did you say!
Related reading: Corus in Tata lap