Syntex Industries
This company also had dominance at one time. As soon as the name of water tanks came to people’s mind, Sintex used to come to their mind. The company was also strong in textile and plastics business. Its business had spread to Europe. The market cap of the company had spread to thousands of crores of rupees in the stock market.
But then took huge loans to acquire foreign companies. The interest burden continued to increase. After this the cash crisis started and bank loans started defaulting. The situation was such that the company went bankrupt. Later Welspun Group bought it.
Source: www.aajtak.in
