TOP CORPORATE NEWS - 02 MAR 2016

HCL Tech bags 5-year IT outsourcing services contract

HCL Tech has signed a five year IT Outsourcing contract with Husqvarna AB, a leading manufacturer of outdoor power products including robotic mowers, garden tractors, chainsaws and trimmers.

HCL Tech has been providing application management services to Husqvarna and with this deal; HCL will now provide end–to–end integrated infrastructure and applications services, covering data center services, network services, security services, applications operations and support services.

Hero MotoCorp surges on sharp February 2016 volumes

Shares of Hero MotoCorp surged over 6% to Rs2814 on NSE post February 2016 dispatch volumes which came up by 13.7% YoY to 550,992 units.

Hero MotoCorp dispatch volumes for the month were up by 13.7% YoY to 550,992 units.

The growth is dispatch nos comes despite of an impact on the production due to the Jat agitations in the month of February 2016.

BHEL rallies on winning order worth Rs5600 crore

Shares of BHEL surged 7% to Rs98.75 on NSE on the reports that the company has bagged order worth Rs5600 crore to set up main plant package for coal based 1600MW (super critical project) from Tamil Nadu state utility.

Bajaj Auto falls on below than estimate Feb 2016 sales

Shares of Bajaj Auto fell 2% to Rs2221 on NSE post February 2016 volumes which grew by 12.1% YoY at 272,719 units but were below our estimates. Bajaj Auto Ltd motorcycle volumes for the month were up 8.9% YoY at 235,282 units.

Three wheeler volumes for the month were up 37.4% YoY to 37,437 units. Overall exports for the month were down 12.7% YoY at 98,595 units

IRB Infra drops as Government cancels Zoji La award

Shares of IRB Infrastructure dropped over 2% to Rs218 on NSE in an otherwise strong markets after the Government cancelled giving Zoji La award to the company which is sentimentally negative as the visibility of the order book will decline sharply by 38% YoY. Ended the session at 225.6 later.

                                        

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