LTIMindtree inches up on executing Shareholder`s Agreement with Global Digital
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
LTIMindtree is currently trading at Rs. 5145.20, up by 13.85 points or 0.27% from its previous closing of Rs. 5131.35 on the BSE.
The scrip opened at Rs. 5131.85 and has touched a high and low of Rs. 5155.90 and Rs. 5108.30 respectively. So far 480 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. 4130.30 on 21-Apr-2023.
Last one week high and low of the scrip stood at Rs. 5458.55 and Rs. 5108.30 respectively. The current market cap of the company is Rs. 151971.79 crore.
The promoters holding in the company stood at 68.64%, while Institutions and Non-Institutions held 21.57% and 9.78% respectively.
LTIMindtree has executed a Shareholder’s Agreement (SHA) with Global Digital Integrated Solutions Company (Global Digital), a wholly owned subsidiary of Saudi Arabian Oil Company (Saudi Aramco), for setting up a Joint Venture in the Kingdom of Saudi Arabia.
The scope of the joint venture company will be to market and provide information technology services to accelerate digital transformation and new next generation technology adoption in government and private sector enterprises in the KSA as well as in the Middle East and North Africa (MENA) region.
The aim of the proposed joint venture company is to develop a regional hub of IT services primarily in Saudi Arabia, and, at a later stage, the MENA Region. The proposed joint venture company will be an engine of digital transformation in Saudi Arabia and enable growth of the digital economy, addressing gaps, transferring IT domains knowledge, and developing IT and Digital Transformation services eco-system in Saudi Arabia. In addition, the proposed joint venture company provides an attractive financial investment and the opportunity for the acceleration of the digital transformation of Saudi Arabia with focus on co-innovation and joint IP creation, in line with Saudi Arabia’s 2030 Vision.
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.
