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L&T Infotech gains on expanding global alliance with IBM

Capital Market 

Larsen & Toubro Infotech (LTI) rose 1.46% to Rs 4,305.90 after the company said it is expanding its multi-year, global alliance with IBM to help businesses transform their operations through hybrid cloud adoption.

LTI will help clients migrate and modernize core business applications leveraging IBM Cloud offerings.

As part of this relationship, LTI and IBM plan to establish an innovation center in Bengaluru (India) in 2021. This center will offer a comprehensive suite of IBM's cloud, automation, integration, data & artificial intelligence solutions to foster innovation. IBM will provide training to LTI employees to facilitate co-creation workshops and solution development for their clients. The announcement was made during market hours today, 12 January 2021.

LTI is a global technology consulting and digital solutions company. It reported a 9.70% gain in consolidated net profit to Rs 456.80 crore on a 1.7% rise in revenues to Rs 2,998.40 crore in Q2 September 2020 over Q1 June 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 12 2021. 11:25 IST