Page 3 - Lti Mindtree News Today

LTI Mindtree revenue rose 8.2% to 89.05 billion rupees in the quarter, beating analysts estimates of 88.70 billion rupees.

The share allotment is consequent upon exercise of stock options granted under the ‘LTIMindtree Employee Stock Options Scheme 2015’, it added.

No, but we do expect improvement. Now, whether it happens say second half Q3 or it starts Q4 or it gets a bit more protracted, I think that is probably more a near term debate.

The variable payout for the remaining employees will be based on their business units performance, said chief human resources officer Milind Lakkad.

L&Ts services portfolio now constitutes 32 per cent of its revenues

The Indian stock market marked an exceptional day on September 11 as several Nifty50 stocks surged to reach new 52-week highs.

LTIMindtree stock has given a return of 14.61 percent over the last six months. The benchmark Nifty50 index has given a return of 11.11 percent over the same duration.

The brokerage said PNB Bank, Hindalco, LTI Mindtree, GAIL and ONGC are the thrust stocks, while Reliance Industries and ITC are the bargain picks.

After five months of gains, the Nifty index is set to end August with losses due to inflation concerns and higher interest rates. However, the Nifty IT pack is up 4% this month, driven by the positive outlook for the US economy and the expected demand for AI-related work.

A M Naik has chaired the annual general meeting for the last time as the head of the Larsen & Toubro (L&T) group, as he prepares to become chairman emeritus on September 30th. Since he joined as a junior engineer in 1965, L&Ts revenue has grown from Rs 5000 crore to Rs 1.83 lakh crore on a like-to-like basis, while its share price has risen 15,000% and its market capitalisation 20 times.