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Acquisition of the German steelmaker would give the Indian steel entrepreneur substantial global heft. But it might also end up extracting a heavy price on his already-stretched group and its investors.

The department store chain’s only growth engine is powered by distribution, not stores—raising questions about sustainability and profitability.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
A sharper growth push from Tata Steel is reshaping a long-running contest with JSW Steel and shifting the market’s loyalties. But can it keep its expansion-hungry rival at bay?