Tata Steel douses UK flames. Can India forge a turnaround?

Tata Steel has all the makings of a market leader—strong annual revenues of Rs 2.2 lakh crore, a massive scale of 35.3 MTPA (million tonnes per annum) and a dominant presence in India. Yet, JSW Steel —with a top line of Rs 1.7 lakh crore and 28.2 MTPA of capacity—has become the world's most valuable steel company by market cap, outpacing established giants like Nucor Corp , ArcelorMittal and Nippon Steel.