How Kumar Mangalam Birla’s bet on Novelis changed Hindalco’s fortunes and trumped Tata’s Corus buyout

Kumar Mangalam Birla, chairman, Aditya Birla Group


Two of India’s most prestigious business houses brought about a significant shift in the global steel industry in 2007. Tata Steel bought Corus and Hindalco acquired Novelis for a combined deal value of over USD18 billion. But 14 years later, who has won the battle of the bottom line for their investors? Let’s find out.

For India, 2007 was a special year. Most of us remember it as the year in which India brought home the inaugural ICC T20 cricket World Cup under MS Dhoni, beating arch rivals Pakistan in the final after a forgettable drubbing in the 50-overs version of the game. While there were many incidents to forget, there were other things that are still etched in memory.It was the same year when India’s first major e-commerce player, Flipkart, came into

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