India's overseas investment in Mar doubles at $5.23 bn in Mar

Overseas direct investment by Indian companies more than doubled to USD 5.23 billion in March 2014 as compared to same month last year.
The overseas FDI by companies was at USD 2.16 billion in March 2013, the RBI data showed.
The investments or financial commitments in form of equities, loans and guarantees were at USD 2.91 billion, USD 418.72 million and USD 1.91 billion respectively during the month.
Reliance Energy Generation & Distribution, issued guarantee of USD 525.17 million in its wholly owned subsidiary in Mauritius and construction firm Punj Llyod issued guarantee of USD 119.59 million in its joint-venture in Saudi Arabia.

Viraj Profiles in its wholly owned unit in the Netherlands issued guarantee worth USD 78.50 million, while Wipro Ltd issued guarantee of USD 60.58 million in its fully owned firm in Cyprus.
Among other major investors, Zee Entertainment made investment of USD 42.76 million by way of issuing equity as well as guarantee. And GMR Infrastructure issued guarantee of USD 23.26 million in its joint venture in Turkey.
Also ONGC Videsh (OVL), Bajaj Auto, Godrej Consumer, JSW Steel and Hindalco Industries and various Tata Group companies made investment in their overseas entities in March.