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What the Indian conglomerate will do with two luxury-car brandsDEPENDING on which way you look at it, in acquiring Jaguar and Land Rover (JLR) from Ford for $2.3 billion, Tata Motors has either got itself two of the most famous brands in the car business at a bargain price?or a sea of troubles. In India there is both pride in Tata’s global ambition and a fair dose of scepticism. Tata Group, the parent of Tata Motors, may be India’s biggest industrial conglomerate, but there are concerns that it may have taken on more than it can manage. When the deal was first mooted, S. Ramnath of SSK Securities, a Mumbai stockbroker, feared that passion rather than logic was in the driving seat. Balaji Jayaraman of Morgan Stanley added that buying JLR was clearly ?value-destructive given the lack of synergies and the high-cost operations involved.? …
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