BackStocks to Watch: Tata Motors, HPCL, Infosys, Happiest Minds
Happiest Minds Technologies Ltd announced its partnership with Ilantus Technologies to deliver identity and access management security services
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Tata Motors: Tata Motors Ltd expects its commercial vehicle sales to sharply rebound next fiscal, in line with an industry recovery, after two years of double-digit sales decline, a senior company executive said, as India’s largest truck and bus maker bets on a better-than-expected economic revival and greater government focus on the infrastructure sector.
HPCL: The oil marketing company has launched a first of its kind, EV (electric vehicle) charger, in collaboration with Magenta EV Systems. Branded as “ChargeGrid Flare", it is incorporated within energy-efficient streetlamp columns, encouraging EV adoption , said Hindustan Petroleum Corporation Ltd (HPCL).
Infosys: The IT services major said that it has extended its strategic collaboration with Newmont Corporation, the world's largest gold mining company, by five years. This association will help standardize and digitize delivery models across its mine sites, Infosys BPM said in a statement.
IDBI Bank: The troubled state-owned industrial lender has come out of RBI’s prompt corrective action (PCA) framework after four years, having managed to improve its score on three out of the four parameters tracked by the regulator.
JSW Ispat Special Products Ltd: Care Ratings revised the ratings on the company’s borrowing facilities. It revised the rating on the long term bank facilities A-; Stable from BBB+; Stable. Moreover, the ratings on long term, short term facilities was revised to A-; Stable/ CARE A2+ from CARE BBB+; Stable/ Care A2.
Brookfield India Real Estate Trust: Brookfield India Infrastructure Manager Pvt. Ltd’s tower InvIT committee will meet on 17 March, to consider and declare distribution to unitholders for and on behalf of the trust.
Happiest Minds Technologies Ltd: The IT company announced its partnership with Ilantus Technologies to deliver identity and access management security services.
NMDC Ltd: The state-owned company’s board of directors has announced an interim dividend of ₹7.76 per share of face value ₹1 for FY21, it said in a regulatory filing.
V Mart: The ratings agency Icra has reaffirmed the credit ratings of earlier bank facilities of V Mart. The long term bank limits were reaffirmed at [ICRA] AA- with a stable outlook, while the short term bank limits were reaffirmed at ICRA Al + (ICRA A one plus) ICRA Al+.
Essar Shipping: The National Company Law Appellate Tribunal has stayed the order of the National Company Law Tribunal’s order for the constitution of a committee of creditors in the matter of initiation of corporate insolvency resolution, a request for which was filed by Essar Shipping’s creditors on 2 March.
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