Tata Group drops out of Brand Finance top 100
06 Feb 2017
The battle between ousted Tata Sons chairman Cyrus Mistry and the Tata Group debacle seems to have hit the group's ranking in the Brand Finance top 100 brands in the world.
According to the Brand Finance Report, Tata Group's ranking fell 21 notches in 2016 from 82 to 103. This is the first time that the company hasn't featured in the top 100 on the Brand Finance Report.
Tata Group was the only Indian brand to be featured on the top 100 list, which means for the year 2016, there were no Indian companies in the top 100 list.
Tata's ranking was on a downslide from 2014 when it ranked number 34 on the list. In 2015, its ranking fell to 65 and then to 82.
On 24 October 2016, the Tata Group holding company Tata Sons removed Cyrus Mistry as chairman, followed by his ouster from the board of several group companies; but he proved unwilling to go without a fight. The Tata Group and Mistry are now engaged in a legal battle. Tata Sons chairman emeritus Ratan Tata came back to the helm for a while, subsequently giving way to N Chandrasekaran of TCS as the new chairman.
The Tata Group has consistently ranked first on the Indian top 100 brands list.
Airtel featured on the Brand Finance Top 500 companies report at rank 190, up significantly from its 242nd rank in 2015. This was followed by Life Insurance Corporation at rank 222, up from 283; Infosys at rank 251; State Bank of India at rank 294, down from 244 in the year ago period; and Reliance Industries at rank 345, up from rank 442 in 2016.