India Ratings and Research (Ind-Ra) has upgraded
Megasoft Ltd’s Long-Term Issuer Rating to ‘IND BBB’ from ‘IND BBB-’. The Outlook is Stable.
Ind-Ra continues to take a consolidated view of Megasoft and its 100% subsidiaries, XIUS Holding Corp and Xius Corp in the US, XIUS S DE RL DE CV in Mexico and Megasoft Consultants Sdn Bhd in Malaysia, to arrive at the ratings.
This is because all the companies have strong operational and strategic interlinkages, as they operate in the same line of business.
Megasoft has been operating in the mobile infrastructure, mobile payments, and the Internet of Things (IoT) solutions industry for over two decades and has achieved business stability in the segment. It caters to requirements of the US, Latin America and the Asia Pacific regions.
At around 11:36 AM, Megasoft was trading at Rs14.97 per piece up by Rs0.71 or 4.98% on Sensex.