‘Indian firms invested $1.29 bn abroad in Sept’

Indian companies invested $1.29 billion in overseas units and joint ventures in September,data from the Reserve Bank showed Thursday.

Written by Press Trust Of India | Mumbai | Published: October 11, 2013 2:56:21 am

Indian companies invested $1.29 billion in overseas units and joint ventures in September,data from the Reserve Bank showed Thursday.

Companies had invested $1.94 billion overseas in August. Alok Industries,Simplex Infrastructures,Tata Petrodyne,Cadila Healthcare,Piramal Enterprises,Mercator and Bharti Airtel were among the major investors last month.

Alok Industries invested $165.22 million in two tranches in wholly owned units in the UAE and the US. The companies are into wholesale and retail trade,restaurants,hotels and manufacturing businesses.

Simplex Infrastructures invested $75 million in its construction joint venture in Oman and Tata Petrodyne invested $69 million in its wholly owned business in the Netherlands,which is engaged in agriculture and mining.

Cadila Health Care invested $55.64 million in its wholly owned company in Ireland. Tata Power invested $36.89 million in two separate wholly owned units based in Mauritius and Singapore.

Pharma company Piramal Enterprises made an investment of $ 48.41 million in a wholly owned unit in Switzerland and a joint venture in the US. Mercator invested $40.75 million in a wholly owned company in Singapore while telecom major Bharti Airtel invested $38.5 million in a wholly owned company in Mauritius.

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