Mumbai, Dec 11 (Inditop.com) Consumer healthcare company GlaxoSmithkline Friday said it had “temporarily” suspended operations at one of its factories located in Dowlaiswaram, Andhra Pradesh on account of disturbances over the proposed division of the state.
“The management of GlaxoSmithkline Consumer Healthcare has decided to suspend operations temporarily at one of its factory located at Industrial Estate Dowlaiswaram, in the interest of safety of its employees and to protect the assets of the company,” it said in a statement.
While tensions in the southern state have scaled up, companies have started mulling the effects of the proposed creation of a separate Telangana state, which according to top government officials could have Hyderabad as its capital.
In another incident, protesters attacked a branch of HSBC Bank in the coastal city of Visakhapatnam. Angry at finding the bank open, the protesters barged in, ransacking the office and damaging furniture and computers.
Investors also betrayed signs of nervousness over the issue with shares of Hyderabad-based firms falling for the second consecutive day. Nagarjuna Construction and GVK Power and Infrastructure were down more than 2 percent Friday.
