LTIMindtree gains on extending contract with Absa Bank

LTM Ltd. | IT - Software | IT & ITES | BSE: 540005 | NSE: LTM

19 Jul 2024 Evaluate

LTIMindtree is currently trading at Rs. 5804.00, up by 49.95 points or 0.87% from its previous closing of Rs. 5754.05 on the BSE.

The scrip opened at Rs. 5769.05 and has touched a high and low of Rs. 5839.20 and Rs. 5754.05 respectively. So far 5832 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 6442.65 on 15-Jan-2024 and a 52 week low of Rs. 4518.35 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 5839.20 and Rs. 5438.05 respectively. The current market cap of the company is Rs. 171352.43 crore.

The promoters holding in the company stood at 68.60%, while Institutions and Non-Institutions held 21.51% and 9.89% respectively.

LTIMindtree has extended multi-million dollar contract with Absa Bank, a leading African financial services group. This reinforces the company’s position as Absa Bank’s trusted strategic technology partner. The extended partnership builds upon a successful 17-year collaboration, where LTIMindtree has been instrumental in driving Absa Bank's digital transformation journey, fostering growth and efficiency.

LTIMindtree will act as a one-stop shop for Absa Bank's IT needs, providing comprehensive services to bolster its digital infrastructure. This includes deploying cutting-edge solutions in Digital Transformation, Applied AI, Cloud Acceleration, Data-Driven Decision Making, and Core Banking Modernization.

This strengthened partnership solidifies LTIMindtree's leadership in the Banking, Financial Services, and Insurance (BFS &I) sector. By leveraging its domain expertise, robust technology solutions, industry-specific offerings, and a powerful partner ecosystem, LTIMindtree empowers BFS & I clients to achieve true end-to-end transformation. This includes core modernisation, go-to-market innovation, cloud adoption, data-driven decision-making, and enhanced customer engagement through insightful analytics, personalised marketing, and tailored experiences.

LTIMindtree (formerly Larsen & Toubro Infotech) is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.

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