The Hindu Business Line : Ratan Tata rings NYSE's opening bell

THE Independence Day found Mr Ratan Tata, Chairman of the Tata group, ringing the `opening bell' at the commencement of trading at the New York Stock Exchange (NYSE).

The occasion was the fifth anniversary of the listing of Videsh Sanchar Nigam Ltd (VSNL) on the exchange, said a news release from the Tata group. VSNL had listed its American Depository Receipts (ADRs) on NYSE on August 15, 2000.

Of course, VSNL was then a Government-owned entity, and it came into the Tata fold two years later in 2002.

"The NYSE listing has given the company greater international visibility and is in many ways, a reflection of our global vision," said Mr Subodh Bhargava, Chairman, VSNL.

Since VSNL's acquisition by the Tata group, the company initiated the undersea Tata Indicom Cable project, acquired the undersea assets of Tyco Global Network and recently agreed to buy Teleglobe.

This is also the second time in 12 months that Mr Ratan Tata is ringing the opening bell at NYSE.

He rang the opening bell for the first time during the listing of ADRs of Tata Motors.

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