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| | How Bajaj Auto, Tata Motors, M&M and Ashok Leyland gave birth to auto MNCs
Best of both worlds: How Bajaj Auto, Tata Motors, M&M and Ashok Leyland gave birth to auto MNCs http://economictimes.indiatimes.com/...w/24278033.cms
In August 2013, when Mahindra & Mahindra (M&M) reported its financial results for the April-June quarter, there was some good news from South Korea. Ssangyong, which M&M had acquired for Rs 2,100 crore in 2011, had turned in a net profit of 6.2 billion won (Rs 36 crore). This was Ssangyong's first profit in six years (excluding extra-ordinary items). |
A few months ago, Bajaj Auto received a Rs 27 crore dividend cheque from Austrian bike maker KTM, in which it has invested Rs 1,200 crore. Tata Motor's success with its Jaguar-Land Rover acquisition is fairly well chronicled.
The return to profits and dividends of these global acquisitions made by Indian auto companies mark the successful completion of the first lap. Four Indian auto companies featured here together spent Rs 14,000 crore making nine global acquisitions. They are now revving up for the second lap.