Losses for Big Houses abroad, Tata tops

Top industrialists are returning to India after selling off their assets in foreign countries as situation was not favourable as political and financial issues were creating problems for them. Tata company occupies number one position among those who lost abroad due to losses. Tata has so far not saved a pie after investing in 2007 in Chorus company and it sold off its shares.

Tata lost Rs 50 crore monthly after it had a share of 35 percent in Mozambique company in Africa and then it sold off 65 percent shares. The SR company which invested Rs 4000  crore in Trinity Coal Corporation in US closed down its shutters after sustaining heavy losses. Reliance too did the same thing after investing in US Shell gas sector. Crompton Greaves also started selling away shares after investing huge amounts in US.

The Coal India burnt its fingers after investing Rs 500 crore in Mozambique company. GVK investing in Hong Kong, Lanco investing in Griphin, Adani group investing in Coal sector landed in the same situation.

Market analysts said that what the top guns did was correct. Instead of suffering losses it is better to dispose off assets.


Medaram Jathara

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