MINDTREE CEO
Infosys, HCLTech, TCS, other IT stocks soar up to 6%; Nifty IT rallies 5% as global AI slowdown calls boost sentiment
Indian IT stocks rallied up to 6% after calls from Anthropic and OpenAI leaders for a slower pace of AI development eased fears of disruption from AI. Infosys, HCLTech, LTIMindtree and Mphasis gained around 6%, while TCS and Tech Mahindra rose over 5%, pushing the Nifty IT index up about 5%.
Udaan to buy Swiggy’s Lynk; India’s BRICS tech push
Udaan is set to acquire Swiggy-owned Lynk Logistics. This and more in today's ETtech Top 5.
LTIMindtree director Venu Lambu quits
Lambu had joined Mindtree in 2020 and had previously worked at Cognizant and HCLTech. He was part of the key management personnels present during the merger completion announcement of Larsen & Toubro Infotech and Mindtree in November 2022.
LTIMindtree to focus on real estate, cost and revenue synergies: CEO
The company, which has become India’s fifth largest IT service provider by market capitalisation following the amalgamation, may seek to rationalise real estate in case of duplication within the same cities, but for larger cities like Bengaluru, it would focus on setting up more satellite offices over the long term, chief executive Debashis Chatterjee told ET.
Clients eyeing more cost takeout deals: Mindtree CEO
Debashis Chatterjee, CEO Mindtree, talked to ET about clients prioritizing on saving costs amid surging energy prices and the company's upcoming merger with L&T Infotech
Clients not stopping discretionary spends: Mindtree’s Chatterjee
“The way we look at the macro environment is by talking to the clients in our portfolio… and, speaking to them, I still feel the overall sentiment is quite bullish,” chief executive Debashis Chatterjee said, adding that clients have not halted discretionary spends.
LTI, Mindtree boards may meet next week to okay merger
Parent Larsen & Toubro (L&T) owns 74.05% of LTI and 60.99% of Mindtree. LTI is trading at a 30% premium to Mindtree.
Mindtree opens its first development center in Kolkata, charts aggressive hiring plans
Mindtree has been recruiting talent in Kolkata since February 2021 and already employs more than 1,000 professionals in the city including 400 freshers.
Mindtree expects digital to drive growth in FY23
Mindtree reported a growth of more than 40% in its top 20 clients in the past year, and CEO Debashis Chatterjee said that he sees potential to mine the top accounts and extend this strategy to the next set of 20 clients.
Mindtree sees opportunity for NxT Digital acquisition across verticals
NxT Digital, which augments Mindtree’s Internet of Things offerings, presents a huge opportunity not only in manufacturing but also in industries like retail and consumer packaged goods, Mindtree CEO Debashis Chatterjee says.
Mindtree's margin story remains intact: Debashis Chatterjee, CEO
"In terms of profits, our PAT has been fairly stable although the EBITDA has gone down slightly. We have been able to manage the PAT because of efficient use of the treasury function. There has been some treasury gains and that is why the absolute PAT has gone up and the overall PAT has been steady at 15%. This is fairly good from our perspective."
Mindtree seeing strong momentum, client satisfaction at all-time high: Debashis Chatterjee, MD & CEO
"For two successive quarters we have seen 5%-plus sequential growth. Given the pipeline and the order book which has grown 12% year over year, we feel very confident of our growth momentum going forward."
Larsen & Toubro Infotech, Mindtree to avoid business overlap
Larsen & Toubro Infotech (LTI) and Mindtree will avoid client overlaps as well as competing in the same categories till parent entity L&T decides on their merger, the chief executives of the mid-tier IT services providers said.
Rajeev Mehta set to be Mindtree CEO
Mehta, who had worked for two decades at Cognizant, joined L&T in April.
Mindtree chairman, vice-chairman , CEO resign
Krishnakumar Natarajan, NS Parthasarathy & Rostow Ravanan resigned from board and executive roles.
L&T’s new tactic in Mindtree war: Charm offensive
Mindtree board to meet today, discuss share buyback that is under threat after L&T’s open offer.
Mindtree posts strong growth in Q4, says confident about FY17
For the January-March quarter, Mindtree posted a profit of $23 million, an 11% jump from last year. Revenue surged 32% to $195.6 million.
Mindtree ropes in company's veteran Radha R as head of new business division
The company is also promoting Kamran Ozair, who handled the Microsoft account based in Seattle to lead Mindtree's banking and financial services business.
MindTree to split biz into 5 units
Bangalore-based IT firm MindTree has decided to restructure its business into five independent business units under different CEOs as it looks to rapidly expand each of these segments.
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