Page 3 - Mindtree
L&T Infotech-Mindtree merger likely by December, says LTI COO
The amalgamation process of Larsen & Toubro Infotech (LTI) and Mindtree is likely to be completed by December, and during this period, both the companies will continue to operate independently, a senior official said. The two subsidiaries of Larsen & Toubro had last month announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding USD 3.5 billion in combined revenue. The name of the combined entity will be 'LTIMindtree', the companies had said in a statement. We hope the merger will be completed in the next two quarters It is undergoing regulatory approvals. There are three-four agencies involved in the process, L&T Infotech Chief Operating Officer Nachiket Deshpande told PTI. Larsen & Toubro had acquired a controlling stake in Bengaluru-based Mindtree in 2019. Deshpande said he expects demand for IT services to continue to remain strong over the next three-five years, and supply-side constraints to ease within a few quarters. Once ...
 "L&T Infotech-Mindtree merger likely by December, says LTI COO")
LTI's net headcount set to go up this year, sees no decline in demand
LTI closed FY22 with a total headcount of 46,648 and the addition in the last financial year was more than what it had seen in the previous two years
 "LTI's net headcount set to go up this year, sees no decline in demand")
L&T Infotech, Mindtree slide up to 5% after merger announcement
Shareholders of Mindtree will receive 73 shares of LTI in exchange for 100 shares in the former.
 "L&T Infotech, Mindtree slide up to 5% after merger announcement")
Mega merger: LTIMindtree to join the big league with scale and ambition
Upon the scheme becoming effective, Mindtree shareholders get shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree
 "Mega merger: LTIMindtree to join the big league with scale and ambition")
Top headlines: RIL posts 22% jump in Q4 net, Mindtree & LTI announce merger
The Boards of Directors of Mindtree and LTI approved the merger of both these independently listed IT services companies under the Larsen & Toubro Group.
 "Top headlines: RIL posts 22% jump in Q4 net, Mindtree & LTI announce merger")
L&T Infotech and Mindtree merger to start on strong foundation: Analysts
L&T Infotech and Mindtree merger: Keeping in mind strong growth momentum, analysts tracking the sector were not too confident if this would be the right time to go in for a merger.
 "L&T Infotech and Mindtree merger to start on strong foundation: Analysts")
Mindtree shares pare early gains; tumble nearly 9% on profit-taking
In early trade, the stock had climbed 3% after the company registered a 49.1% jump in consolidated net profit in the fourth quarter of FY22
Indices fall for 5th day; Sensex cracks 703 pts, Nifty gives up 17,000
CLOSING BELL: Reliance Industries (RIL; up 3.5 per cent) was the top gainer on the 30-pack index. he draggers on the index were HDFC (down 6 per cent), HDFC Bank (down 4.2 per cent)
 "Indices fall for 5th day; Sensex cracks 703 pts, Nifty gives up 17,000")
L&T Infotech and Mindtree to merge to create $22-bn firm: Report
The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units, could consider share swap ratios.
 "L&T Infotech and Mindtree to merge to create $22-bn firm: Report")
L&T Infotech, Mindtree may be merged to create $22-billion firm
For L&T, this merger ties in with the group's vision of becoming more services-oriented
 "L&T Infotech, Mindtree may be merged to create $22-billion firm")
Mindtree Q4 net profit rises 49%, firm declares dividend of Rs 27/share
Revenue rose 37% to Rs 2,897 crore
 "Mindtree Q4 net profit rises 49%, firm declares dividend of Rs 27/share")
Mindtree net profit jumps 49% YoY in Q4; revenue up 37.4% to Rs 2,897 crore
The Mindtree management declined to comment on reports of a likely merger with group company Larsen & Toubro Infotech.
 "Mindtree net profit jumps 49% YoY in Q4; revenue up 37.4% to Rs 2,897 crore")
Mindtree starts return programme for techies on minimum two-year break
The programme is open to all professionals looking to return to the workforce, the majority of them are expected to be women.
Mindtree: Q3 and guidance strong, but high attrition remains a concern
Valuation at 38x estimated FY23 earnings for last year's top IT stock performer leaves little room for disappointment
In FY23, our fresher hiring will be 40-50% more than FY22: Mindtree CEO
'Our story about profitable growth has been fairly consistent. This is the fourth quarter of 5% plus sequential growth in constant currency,' says Debashis Chatterjee
 "In FY23, our fresher hiring will be 40-50% more than FY22: Mindtree CEO")
Mindtree dips 6% on profit booking post December quarter results
As the key positives are already captured, brokerage firm Motilal Oswal Financial Services sees limited upside for the stock hereafter.
Stocks to Watch: Mindtree, HCL Tech, BPCL, Ujjivan SFB, HDFC Bk, Adani grp
HCL Technologies is scheduled to announce Q3 results on Friday, while HDFC Bank will report numbers on Saturday. Adani group stocks may be in focus on the back of MoU with POSCO.
 "Stocks to Watch: Mindtree, HCL Tech, BPCL, Ujjivan SFB, HDFC Bk, Adani grp")
Mindtree Q3 profit up 34% YoY to Rs 438 cr, rises 9.7% sequentially
Attrition for the quarter rose to 21.9%, from 17.7% the preceding quarter
Sensex ends choppy day 85 pts up; Wipro sinks 6%; Nifty Metal rallies 3.5%
Among sectors, the Nifty Metal index zoomed 3.5 per cent on the NSE today while the Nifty Realty index slumped 0.8 per cent
 "Sensex ends choppy day 85 pts up; Wipro sinks 6%; Nifty Metal rallies 3.5%")
Mindtree, Coforge: These IT stocks look good on charts despite correction
Despite the current corrective phase in IT sector, the overall positive bias seems to be intact for these IT stocks as they hold crucial support levels
 "Mindtree, Coforge: These IT stocks look good on charts despite correction")