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SLS VOCAB IN NEWS L-1/2 12-01-12

Ratan Tata calls on Narendra Modi along with Cyrus Mistry

Ratan Tata, the outgoing chairman of over USD 80 billion conglomerate, on Thursday introduced his successor Cyrus P. Mistry to the Gujarat Chief Minister Narendra Modi during a courtesy visit at his residence in Gandhinagar, a top state official said.

"Mistry has evinced interest in strengthening business ties with Gujarat," official sources said.

The 43-year-old Mistry, the son of Pallonji Mistry, Chairman of the Shapoorji Pallonji Group that holds 18 per cent stake in Tata Sons, holding company of Tata Group, will take over the reins from Tata after he retires in December, 2012.

On invitation of Gujarat government, Tata Motors had relocated the mother plant of Nano to Sanand from Singur in West Bengal in 2008, after it faced stiff opposition there.

The Tata group companies like Tata Chemicals Limited and Tata Consultancy Services already have operations in Gujarat, while Tata Power Limited is setting up an ultra-mega power plant at Mundra in Kutch district.

http://www.thehindu.com/business/companies/article2758039.ece?css=print

Wordrobe

Call on somebody: to make a short visit to a person or place Let's call on John

Conglomerate: a large company formed by joining together different firms a media conglomerate

Successor (to somebody/something)a person or thing that comes after somebody/something else and takes their/its place Who's the likely successor to him as party leader?

Courtesy visit or courtesy call: a formal or official visit, usually by one important person to another, just to be polite, not to discuss important business

Evince: to show clearly that you have a feeling or quality

He evinced a strong desire to be reconciled with his family.

She evinced little enthusiasm for the outdoor life.

Business ties: business relations

Stake: share in the company

Take over the reins: to assume the main decision making and control position in the company.

Relocate; change location of the unit

Stiff opposition: great opposition

Setting up: to establish

Vineet Ramananda

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