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Motherson Sumi Systems moved higher by 3% to Rs 489, also its record high on BSE, after the company said global rating agencies Fitch Ratings ('Fitch') and Standard & Poors Global Ratings (S&P) upgraded the corporate rating of its subsidiary.
“Fitch has rated outstanding secured bonds of SMRPBV at BBB- Samvardhana Motherson Automotive Systems Group B.V., Netherlands (SMRP BV), a subsidiary of the Company. Furthermore, Fitch has also assigned a first time corporate rating of BB+ with a Positive outlook to SMRP BV,” Motherson Sumi Systems said in a regulatory filing.
S&P has revised its outlook on SMRP BV to positive from stable on improved financial metrics while affirming ‘BB+' long-term corporate credit rating on SMRPBV, it added.
Adani Ports & SEZ too hit a 52-week high of Rs 373, up 3% on BSE in intra-day trade, extending its 1% gain of the last two trading sessions.
Global ratings agency Standard and Poor’s (S&P) on Wednesday, June 14, revised up the outlook on Adani Ports to ‘stable’ from ‘negative’ on expectations of better operating performance and limiting related-party lending.
“Our stable outlook reflects our expectation that Adani Ports & SEZ will maintain consistent operating performance and leverage, and limit related-party transactions over the next 12-24 months,” the agency said in a note.
Kotak Mahindra Bank hit a new high of Rs 993 on BSE, after the bank along with Tata Motors DVR were became part of the BSE benchmark Sensex from today.
|COMPANY||LATEST||52 WK HIGH||PREV HIGH||PREV DATE|
|CAN FIN HOMES||3135.20||3195.00||3164.45||16-Jun-17|
|G M D C||156.70||159.75||157.00||16-Jun-17|
|ICICI PRU LIFE||444.00||449.30||449.00||16-Jun-17|
|J & K BANK||92.15||93.00||91.95||05-Oct-16|
|KOTAK MAH. BANK||986.55||993.00||990.60||12-Jun-17|
|L & T INFOTECH||825.10||827.65||808.90||01-Jun-17|
|VA TECH WABAG||737.55||746.10||739.75||16-Jun-17|