Hinduja Group flagship firm Ashok Leyland today said it will invest up to Rs 1,300 crore on various activities and plans to reduce its overall debt by Rs 300 crore by the end of this fiscal. The company will repay Rs 200 crore of debt by March 2013. Besides, it plans to reduce its working capital by Rs 700-800 crore. Our capex plan for this fiscal is Rs 600-650 crore. A similar amount will be put in as investment by March 2013 on various divisions, Ashok Leyland Chief Financial Officer K Sridharan told analysts in a conference call. The company has already invested Rs 350 crore in the first six months of this fiscal under its capex plans, while the rest will be put in by FY'13-end, he added. We will invest Rs 300 crore in Hinduja Foundries, while the remaining part of the investment amount will go into our joint venture with Nissan and John Deere, Sridharan said.
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