Mumbai: Tata Group has lost its position in 100 global brands’ list for 2017, Business Standard cited Brand Finance 2017 report. The $103 billion salt-to-steel conglomerate was the only Indian corporate house to have had firmed its place in the list in 2016.
Tata-Mistry dispute that culminated in a legal fight at National Company Law Tribunal dented company’s global image. Shares of some of Tata Group companies also took a hit on bourses. Subsequently, the Group lost large amounts in value.
iPhone maker Apple Inc was another big loser, according to Brand Finance 500 report quoted by Business Standard.
It said Google swapped ranks with Apple Inc to become world’s most valuable company. The search engine behemoth added 24 per cent more wealth to its portfolio in 2016 that took its total value from $88.2 billion to $109.4 billion.
In contrast, Apple’s value slipped from $145.9 billion to $107.1 billion, according to the report.