MINDTREE DIGITAL BUSINESS
Coforge shares double from March low, outperform Nifty IT peers. Is more steam left in the rally?
Coforge shares have experienced a remarkable resurgence, doubling since March and leaving its IT competitors behind. The company recently announced impressive growth in net profit and revenue during the first quarter. Analysts anticipate that mid-tier IT firms like Coforge will thrive amid evolving industry dynamics. Both Jefferies and Axis Direct express optimism about Coforge's growth trajectory. The stock has consistently yielded positive returns over the last year.
Infosys, HCLTech, TCS, other IT stocks drop up to 3% as Fed rate hike worries return. Here's why
Indian IT stocks dropped on Monday as stronger-than-expected US jobs data revived concerns over a September Federal Reserve rate hike. The Nifty IT index dropped over 2%, with Infosys, HCLTech, TCS and others declining. Analysts, however, see longer-term opportunities from AI-led spending on deployment, integration and modernisation.
Larsen weighs merging Mindtree & L&T Infotech into a $22 billion firm
The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units controlled by the Mumbai-based engineering firm, could consider share swap ratios for the merger as early as next week, one of the people said, asking not to be identified as the information is not public.
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 appoints Aan Chauhan as chief technology officer
Aan Chauhan, who served as NxT Digital CTO in his most recent appointment, brings to Mindtree more than 26 years of experience gathered from working at companies like Cognizant and IBM Global Services.
Mindtree sees broad-based growth in client demand
Mindtree is seeing a broad-based demand from clients, spanning across geographies, verticals and service lines, CEO Debashis Chatterjee said. This, he said, gives the company the confidence to achieve a double-digit growth this fiscal.
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Mindtree net profit up 61%
Mindtree won orders worth over $504 million in the April-June period, the highest ever in a three-month period for the Bengaluru-based company.
Mindtree completes acquisition of the NxT Digital Business from L&T
In May this year, Mindtree had announced it will acquire the NxT Digital Business from Larsen and Toubro (L&T) for Rs 198 crore, a move that will enable the mid-sized IT firm to capture opportunities in the Internet of Things (IoT) and Industry 4.0 space.
Mindtree to focus on six white space growth opportunities
Mindtree’s acquisition of L&T Group’s NxT Digital will help it augment its offerings in the Internet of Things (IoT) space, one of the six white space growth opportunities that it has identified.
Mindtree to acquire L&T Group's NxT Digital Business for Rs 198 crore
NxT Digital Business was founded as a startup with broad digital capabilities within Larsen and Toubro (L&T). It reported revenue of ₹37.59 crore in fiscal 2020-21.
Mindtree buys NxT Digital for Rs 200 crore from L&T
NxT Digital was started with broad digital capabilities within L&T and is said to have played a vital role in applications of IoT technology and digitalisation of many aspects of L&T’s operations. NxT works in areas of industrial IoT, AI, ML, augmented and virtual reality, geospatial and cybersecurity applications.
Mindtree to see cloud-based growth over next 3-4 years: Analysts
Analysts see Mindtree’s growth outpacing that of mid-sized peers going ahead, and have increased their ratings on the stock due to the company's cloud strategy.
Mindtree partners with Knauf to drive its IT transformation initiatives
The Mindtree-Knauf deal will leverage industry-leading IT platforms and will also help Knauf complete post-merger technology integrations.
Mindtree launches dedicated Microsoft business unit
The unit is a component of Mindtree’s multi-tiered initiative to support the continued demand for cloud services and solutions
Mindtree partners with Databricks for Cloud-based data intelligence
This service will support use of the Databricks platform from implementation throughout the entire customer journey.
Will Ashok Soota's magic work on D-Street for a second time?
Social Media companies were just becoming a rage, mobile adoption was growing and customers were keen to look at analytics to gather consumer insights for their businesses. The bet a decade on has paid off for Soota.
Mindtree partners with Realogy to enhance digital transformation
As directed by Realogy, Mindtree will introduce digitally enabled technologies in areas such as application development, managed services, infrastructure support, and testing services for Realogy. Mindtree will also leverage Digital Pumpkin, an interactive space where multidisciplinary teams can ideate and create meaningful digital business solutions to support business innovation ideas.
Buy Mindtree, target Rs 1,050: Reliance Securities
Buy MindTree at a price target of Rs 1,050.
Mindtree to expand digital sales team, deepen India focus
Mindtree is looking to boost the number of salespeople in its digital sales team and bring increased focus on India and Asia-Pacific as it scouts for more customers.
Mindtree partners IIT Madras for endowed faculty fellow position in Data Science, AI
Through this endowment, Mindtree will help accelerate the development of technology innovation in fields like AI, data analytics, and machine learning, it added.
Mindtree gains as digital goes mainstream
From an IT services industry perspective, Digital business is estimated to touch $225 billion by 2020 with $ 48 billion predicted for Indian IT Services firms.
After Bluefin, Magnet merger might help to grow customer base: Rostow Ravanan, CEO & MD, Mindtree
While underlying value of the business continues to be strong, experts are facing some short term headwinds in SAP and sales force competencies which held us back in Q1.
Bluefin integration to take four quarters to stabilise: Mindtree CEO
In June qtr, Mindtree cut its growth guidance for the year to lower single digits & recorded a lower than-expected revenue growth, due to poor performance of Bluefin.
Mindtree amongst the Top 10 Outsourcing Service Providers in USA and EMEA by ISG
Mindtree, a digital transformation and technology services company, announced that it has been named a Top 10 Outsourcing Service Provider in USA and EMEA.
Mindtree buys UK, US companies for $76 million
Mindtree announced acquisitions of two overseas cos and reported almost flat net profits in dollar terms for the quarter ended June.
Mindtree acquires 2 companies, net profit rises marginally
Chief executive Krishnakumar Natarajan said the acquisition would help Mindtree's customers in rapidly digitizing their operations.
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 reports net profit of 4.9 per cent for September quarter
Profit rose to $22.74 million from the preceding quarter, the Bangalore-based company said in a release. Revenue increased 4.1 per cent.
ING Vysya selects Mindtree as a strategic digital partner
As part of the programme, Mindtree will help ING Vysya deliver multi-channel and multi-platform banking experience to its customers.
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