INDIAN STOCK MARKET

LONDON: Tata, one of India's biggest group of companies on an acquisition spree has emerged as one of the largest global brands, according to a UK-based independent consultancy firm.

Valued at USD 11.4 billion, Tata is ranked 57th among top 100 brands listed by Brand Finance, an independent company focused on the management and valuation of brands.

Coca-Cola heads the list followed by fellow American companies Microsoft, Google, Wal-Mart, IBM and GE while UK's HSBC is placed 7th.

Expressing his happiness, R Gopalakrishnan, Executive Director of Tata Sons, and member of the Group Corporate Centre said it was a first for an Indian brand to be listed among the world's largest.

"For the first time, an Indian brand has got into the list of the largest global brands, although it is number 57 and they have valued it at USD 11.4 billion," he said.

Referring to recent acquisitions, Gopalakrishnan said "each of them have a strategic significance for the company.

"If you see the three biggest acquisitions in value, the Anglo-Dutch steel company Corus is the biggest. When completed and approved, Ford's Jaguar and Land Rover will be second and the third will be Tata chemicals' purchase of General Chemicals."

He said the total amount of acquisitions done by Tata is probably around USD 25 billion in the last 4 to 5 years and "apart from the apparent glamour, it is hard work."

"A lot of Tata companies are focussed on extracting value from these acquisitions by setting up integration committees, by cutting costs, by enhancing values, market access, so on and so forth," Gopalakrishnan said.