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Teredesai will assume the position immediately, succeeding current CFO Sunil Sapre, who is slated to retire later this year.

Born out of the merger between L&T Infotech and Mindtree in November 2022, LTImindtree has seen several exits over the past year which the CEO Debashis Chatterjee recently attributed to “business as usual” and is comfortable with its leadership team on board for growth going forward..

The Indian stock market has experienced a notable ascent, rising 39% over the past year despite a recent 1.5% dip in the last week. In this context, companies with high insider ownership can be particularly compelling, as they often signal strong confidence from those closest to the business amidst promising forecasts of 17% annual earnings growth.

Many other mid-cap IT firms are also eyeing an entry into the billion-dollar club in the coming quarters while the above-mentioned four are chasing the next target of $2 billion, industry observers said. Firms such as Happiest Minds Technologies, Cyient, ITC Infotech and Birlasoft announced their billion-dollar revenue target recently.

Happy Wednesday! The countrys central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in todays ETtech Morning Dispatch.