Tata Steel in list of world's most admired companies

Tata Steel on Wednesday said that Fortune Magazine and management consultant Hay Group have ranked it as one of the world's 10 "most admired" companies this year.

Tata Steel on Wednesday said that Fortune Magazine and management consultant Hay Group have ranked it as one of the world's 10 "most admired" companies this year.

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"Tata Steel, this year, has been ranked among the world's top ten of the "Most Admired Company" rated by Fortune Magazine and the Hay Group. The award has been bestowed upon the company in the industry-metal category," Tata Steel said in a statement in New Delhi.

Tata Steel joins firms like Apple, GE, Singapore Airlines, Alcoa and Thyssen Krupp on the top 10 list, it added.

"The rankings were based on many factors, including innovation, people management, use of corporate assets, financial soundness, long-term investment and global competitiveness," it added.

Tata Steel said that global recognition will "further strengthen" its resolve to ensure the overall development and well being of its employees.

"We are happy that (we have) been recognised by our peers and analysts in the global ranking of most admired companies," Tata Steel managing director H M Nerurkar said.