Infosys in spotlight after inking 5-year deal with Lansforsakringar

Infosys after market hours on Tuesday, 18 March 2014 said it has signed a five-year agreement with Lansforsakringar AB (LFAB) to provide application development and management support for its life and non-life insurance business. The new agreement with Infosys will see LFAB, owned by Lansforsakringar Alliance, a mutual organization of 23 regional insurance companies with a strong local brand, improve the quality of service and time to market for its alliance members at a reduced cost, Infosys said in a statement.

Software services company TCS reportedly said in a meeting with analysts on Tuesday, 18 March 2014, that it expects a weak fourth quarter on account of a slow start to the year after the holiday season and a softer Indian market. However, the company indicated that it expects its revenue growth next financial year to exceed that of the industry.

Ashok Leyland after market hours on Tuesday, 18 March 2014, said that the company has sold 50 lakh shares of IndusInd Bank on Tuesday, 18 March 2014, through a combination of bulk deal and normal trading.

Maruti Suzuki India will reportedly stop exporting to Europe, its single largest overseas market, for over a year starting in the April-June quarter. According to the report, the move will lead to a dip of around 10% in its total exports for the next fiscal Maruti will restart European exports after a 15-month gap in September 2015 with a completely new model, likely the YRA premium hatchback. European exports for the market leader will come to a halt because it will stop exporting the A-Star after the last consignment of about 15,000 units is despatched in the next quarter, added report.

Shriram Transport Finance Company (Shriram) after market hours on Tuesday, 18 March 2014 said it has decided to prepone the monthly interest payout date on non-convertible debentures (NCD) to 29 March 2014 instead of 1 April 2014 due to 1 April 2014 being RTGS holiday. The interest will be computed up to 31 March 2014, the company said in a statement. It may be recalled that the company had already fixed 12 March 2014 as the record date for payment of monthly interest to NCD holders.

Havells India turns ex-dividend today, 19 March 2014, for interim dividend of Rs 5 per share for the year ending 31 March 2014.

NHPC after market hours on Tuesday, 18 March 2014 said that Unit-III of Parbati H.E. Project Stage-III has been synchronized with grid on Saturday, 15 March 2014 and commissioned at full load (130 MW) successfully on the same day.

State Bank of Travancore after market hours on Tuesday, 18 March 2014 said its board of directors will meet on Friday, 21 March 2014, inter alia, to consider preferential allotment of shares and also to consider rights issue to the shareholders of the bank. The Board will also consider declaration of interim dividend to the shareholders of the bank. The bank has fixed 4 April 2014 as the record date for the purpose of payment of interim dividend, if declared.

Future Consumer Enterprise at the fag end of trading hours on Tuesday, 18 March 2014 said that the Rating Committee of Credit Analysis & Research (CARE) has assigned CARE A- [Single A Minus] rating to the long-term facilities of the company and CARE A1 [A One] rating to the short-term facilities of the company.

Power Finance Corporation said that PFC Consulting, a wholly owned subsidiary of the company, has transferred on 12 March 2014, its wholly owned subsidiary, RAPP Transmission Company, incorporated for development of Transmission System for Part ATS of RAPP U-7&8 in Rajasthan to Sterlite Grid, successful bidder selected through Tariff based Competitive Bidding Guidelines for Transmission services issued by Ministry of Power, Government of India.

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