GlaxoSmithKline Consumer Healthcare will invest more than 2.7 billion rupees in its Indian operations GSLM.BO over the next three years, the Economic Times reported on Wednesday, citing the U.S.-based company's international president.
"GSK will be a significant investor in India for the foreseeable future," the newspaper quoted Ian C. McPherson as saying in an interview.
"We will invest in excess of 270 crore rupees in India over the next three years on capacity expansion at our three company-owned plants (in Sonepat, Nabha and Rajamundhry) and infrastructure development."
Investments are being made in research and development, global manufacturing and supply and mergers and acquisitions, the report said citing McPherson.
Naveen Jindal-led Jindal Power has achieved the financial closure for its 2400 mw power project at Raigarh, Chhattisgarh, according to a report.
The report stated that the company is planning to raise Rs 100.57bn as long-term loan with a repayment period of 14 years for the project.
The estimated cost of the proposed power project is Rs 134.10bn and the balance fund requirement of Rs 33.53bn will be met through internal funds, report adds.
Energy giant Reliance Industries will be watched after a top official said the company is unable to hit peak gas production at its D6 block, off India's east coast, due to customers not buying allocated volumes and a lack of pipeline infrastructure.
Export-led software outsourcing firms such as Infosys
Technologies (INFY.BO), Tata Consultancy Services (TCS.BO) and
Wipro (WIPR.BO) will be in focus tracking the rupee, which is
expected to edge higher. [INR/]
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