Now comes the hard part.

The morning after emerging victorious in an expensive four-month battle to acquire Corus Group Plc for $13.65 billion ( 60,333 crore) Tata Steel got an early taste of the challenge ahead as unhappy shareholders pushed its shares down by 10.7%, wiping out 3,000 crore in market capitalization.

A file photo of Ratan Tata

“The market is frankly taking a short-term view and a harsh view," said Tata. “We have satisfied ourselves that the company has in no way jeopardized the interest of shareholders."

A chorus of Indian executives and politicians hailed the move as a sign of the growing confidence of India’s companies to compete aggressively in the global marketplace.

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