The month of May has been remarkable for this technology company. Let’s find out why?

The month of May has been remarkable for this technology company. Let’s find out why?

by 5paisa Research Team Last Updated: Dec 13, 2022 - 11:03 am 28.2k Views
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Larsen & Toubro Infotech Ltd which is a part of the S&P BSE 100, is a global technology consulting and digital solutions company helping more than 485 clients succeed in a converging world.

On 6th May 2022, LTI announced a merger with Mindtree to create another large-scale IT sector player in India. Both LTI and Mindtree have delivered market-leading financial performance and have created value for shareholders. Both the companies have delivered exceptional results till now and after the merger, they will combine the strengths of both organizations to better serve the customers.

Upon the scheme becoming effective, all shareholders of Mindtree will be issued shares of LTI at the ratio of 73 shares of LTI for every 100 shares of Mindtree. The new shares of LTI so issued will be traded on the NSE and BSE. Larsen & Toubro Limited will hold 68.73% of LTI after the merger. For now, the companies will continue to function independently. The name of the combined entity will be “LTIMindtree” leveraging the advantages of both the brands and creating value for all the stakeholders.

On 11th May 2022, LTI launched its LTI Innovation Studio for SAP Business Technology Platform at the 2022 SAP® Sapphire® conference. The LTI Innovation Studio for SAP Business Technology Platform helps global organizations accelerate their transformation journeys with the RISE with SAP solution and SAP Business Technology Platform (SAP BTP). LTI Innovation Studio for SAP Business Technology Platform powers digital transformation with ready-to-deploy industry-leading digital apps, microservices, and a migration cockpit.

On 17th May, LTI announced that it is expanding its global partnership with Google Cloud. It is setting up a dedicated Business Unit for Google Cloud’s six key solution pillars: Application Modernization, Data Management, Infrastructure Modernization, Smart Analytics, Artificial Intelligence, and Security. LTI’s Google Cloud Business Unit will develop state-of-the-art IP, industry-specific solutions, and accelerators with a dedicated team of Google Cloud architects addressing transformation needs for clients across the world.

The stock price of LTI was up by 3.82% in today’s trading session and the scrip ended at Rs 4225.20. The stock has a 52-week high of Rs 7595.2 and a 52-week low of Rs 3584.70.

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