LTIM

Feb 20 (Reuters) - Thomas Cook (India) Ltd THOM.NS:

• THOMAS COOK (INDIA) - CO, SOTC, FAIRFAX, LTIMINDTREE, VOICING.AI COLLABORATE ON GENAI ADVISOR

Source text: ID:nBSE3X8nLz

Further company coverage: THOM.NS

(([email protected];))

** Indian IT index .NIFTYIT the only one among 13 major sectors trading higher, bucking broader market weakness .BO

** IT stocks up 0.24% vs a 0.5% drop in benchmark Nifty 50 .NSEI

** LTIMindtree LTIM.NS top gainer, up 2.83% after signing a multi-year contract

** Persistent Systems PERS.NS follows, with a 2.71% increase

** JP Morgan expects PERS to be the fastest growing in its coverage over FY25-27, saying it navigates tough macro environment well

** Heavyweights Infosys INFY.NS flat, while TCS TCS.NS down 0.6%

** IT index has lost 4.9% YTD, more than Nifty 50's ~3% drop

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

Jan 30 (Reuters) - LTIMindtree Ltd LTIM.NS:

• PARTNERS WITH FLS FOR APPLICATION SERVICES TRANSFORMATION

Source text: ID:nBSE6sDsk7

Further company coverage: LTIM.NS

(([email protected];;))

Jan 24 (Reuters) - LTIMindtree LTIM.NS, India's sixth-largest IT firm, said on Friday that former president Venugopal Lambu would return as CEO after a two-year stint at Randstad Digital.

(Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)

(([email protected];))

Jan 23 (Reuters) - LTIMindtree Ltd LTIM.NS:

• UNIT LTIMINDTREE LLC DISSOLVED

Source text: ID:nBSE9y5mf2

Further company coverage: LTIM.NS

(([email protected];;))

Jan 20 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - SUDHIR CHATURVEDI, WHOLE-TIME DIRECTOR, PRESIDENT – MARKETS RESIGNS

Source text: [ID:]

Further company coverage: LTIM.NS

(([email protected];))

Adds details on forecast, analyst comment, background on peers

By Indranil Sarkar and Manvi Pant

Jan 17 (Reuters) - Shares of India's No. 2 software services exporter Infosys INFY.NS fell nearly 6% on Friday and were set for their biggest one-day decline since July 2023, as analysts raised concerns about the quality of earnings following its third-quarter report.

The stock was down 5.7% as of 11:49 a.m. IST, and was the top drag on the IT index .NIFTYIT and the benchmark Nifty 50 .NSEI, which declined 2.5% and 0.7% respectively.

Its U.S.-listed shares INFY.N fell about 6% overnight.

Infosys on Thursday raised its annual revenue forecast for the third time this financial year as its U.S. banking and retail clients warmed up to spending more on discretionary projects, echoing Tata Consultancy Services TCS.NS and HCLTech HCLT.NS.

However, analysts were concerned about the "quality" of the earnings report, which overshadowed the outlook.

The revenue growth was driven by a higher component of "third-party items" in Infosys' deal pipeline, "which drove concerns around the quality of the beat and raise", Morgan Stanley analysts said in a note.

"Given that the commentary on small deals pipeline is not showing any meaningful signs of inflection, we now assume the (industry-wide) recovery to be more gradual than before," they said.

Small deals comprise more than two-thirds of the company's total deal intake, according to BofA Global Research.

Markets are awaiting further evidence of uptick in discretionary spending, not just commentary from IT companies, said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

Infosys shares gained 22.5% in 2024, outperforming TCS and LTIMindtree LTIM.NS, but trailed behind HCLTech, which rose 31%.

(Reporting by Indranil Sarkar and Manvi Pant in Bengaluru, additional reporting by Anuran Sadhu; Editing by Mrigank Dhaniwala and Varun H K)

(([email protected]; +918447554364;))

Updates with commentary from CEO in paragraphs 5, 6 and 9

Jan 16 (Reuters) - India's LTIMindtree LTIM.NS on Thursday reported third-quarter revenue above estimates, helped by the execution of large deals won in previous quarters, although its profit fell on account of an uptick in expenses.

The country's sixth-largest IT firm reported a 7.1% on-year rise in consolidated revenue at 96.61 billion rupees ($1.12 billion) in the three months ended Dec. 31. Analysts, on average, expected 96.25 billion rupees revenue, per data compiled by LSEG.

The company's banking and financial services segment grew 7.5% on-year, on the back of the execution of deals from clients such as Nexi Group and South Africa-based Absa Bank over the last few months.

Going ahead, the IT sector could benefit from Donald Trump's presidency in the United States due to his pro-business policies, top industry executives said in recent weeks.

Meanwhile, LTIMindtree CEO Debashis Chatterjee told analysts on a call that political and economic uncertainties persist, and "predicting spends trending with certainty is challenging" with a new US government and potential policy changes.

While peers such as Tata Consultancy Services TCS.NS and Infosys INFY.NS signalled early signs of a pickup in discretionary spending, LTIMindtree flagged limited momentum.

LTIMindtree earns nearly 75% of its revenue from the North America market.

The company reported a 7.1% decline in profit to 10.85 billion rupees. That missed analysts' estimate of 11.39 billion rupees, as employee-related expenses rose 11%.

LTIMindtree rolled out wage hikes from Oct. 1, which also impacted its operating margin, Chatterjee said.

Its deal wins rose to $1.68 billion from $1.3 billion in the previous quarter and $1.5 billion in the year-ago period, and largely comprised of cost takeout and vendor consolidation deals.

The company's shares closed 2.4% higher ahead of the results.

($1 = 86.5740 Indian rupees)

(Reporting by Haripriya Suresh and Sai Ishwarbharath B; Editing by Varun H K and Eileen Soreng)

(([email protected];))

** Shares of IT services firm LTIMindtree LTIM.NS rise 2.7% to 5,886 rupees

** Jefferies upgrades LTIM to 'buy' from 'underperform', raises TP to 6,650 rupees from 5,450

** Attributes upgrade to the recent correction in stock price factoring in near-term earnings risks

** Prefers stocks with higher exposure to North America/BFSI (Coforge COFO.NS, Infosys INFY.NS, TCS TCS.NS, and LTIM) for stronger growth, double-digit EPS visibility over FY25-27

** Sees shift toward modernizing tech stacks in FY26, driving 7% Y/Y growth in revenue

** Analysts' avg rating on stock is "hold", same as that on peers Tech Mahindra TEML.NS, Wipro WIPR.NS, HCL Technologies HCLT.NS - data compiled by LSEG

** Median PT on LTIM is 6,540 rupees - LSEG data

** Stock fell ~11% in 2024, vs a ~22% gain in the Nifty IT index .NIFTYIT

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

Dec 16 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - LAUNCHES AI-DRIVEN CYBER DEFENSE RESILIENCY CENTER

Source text: [ID:]

Further company coverage: LTIM.NS

(([email protected];))

Dec 10 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE LTD - ANNOUNCES STRATEGIC PARTNERSHIP WITH GITHUB

Source text: ID:nBSEH10KQ

Further company coverage: LTIM.NS

(([email protected];))

Dec 6 (Reuters) - LTIMindtree Ltd LTIM.NS:

• SUBSIDIARY SYNCORDIS SARL IN FRANCE HAS BEEN DISSOLVED

Source text: ID:nBSEbxJLtB

Further company coverage: LTIM.NS

(([email protected];;))

Dec 4 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - SIGNING OF DEFINITIVE AGREEMENT BY LTIMINDTREE USA FOR INVESTMENT IN VOICING.AI

• LTIMINDTREE LTD - TO INVEST UP TO $6 MILLION IN VOICING.AI

Source text: ID:nBSE50BScR

Further company coverage: LTIM.NS

(([email protected];))

Nov 25 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE AND MICROSOFT JOIN FORCES TO SUPERCHARGE AI INNOVATION AND DIGITAL TRANSFORMATION FOR GLOBAL ENTERPRISES

Source text: ID:nBw2TZwQCa

Further company coverage: LTIM.NS

(([email protected];))

** Shares of IT services firm LTIMindtree LTIM.NS rise 2% to 6,052 rupees, their highest in over a month

** Stock is among top pct gainers on the Nifty IT index .NIFTYIT, which is up 1.54%

** India's biggest insurer Life Insurance Corporation of India LIFI.NS raises stake in co from 5.033% to 7.034% via open market purchase

** Analysts' avg rating on stock is "hold," same as that on peers Tech Mahindra TEML.NS, Wipro WIPR.NS, HCL Technologies HCLT.NS

** Their median PT on LTIM is 6390 rupees - LSEG

** Stock down 3.9% YTD, vs 20% gain in the Nifty IT index

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

Nov 21 (Reuters) - Life Insurance Corporation of India LIFI.NS:

• LIC - INCREASED SHAREHOLDING IN LTIMINDTREE FROM 5.033% TO 7.034%

Further company coverage: LIFI.NS

(([email protected];))

Nov 19 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE STRENGTHENS STRATEGIC PARTNERSHIP WITH NEXI GROUP

• SECURES CONTRACT EXTENSION TO ENHANCE NEXI'S CORE PLATFORMS AND INFRASTRUCTURE

Source text: ID:nBSE1XFQvw

Further company coverage: LTIM.NS

(([email protected];;))

Oct 25 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - UNIT NIELSEN & PARTNER IN AUSTRALIA DEREGISTERED

Source text for Eikon: ID:nBSEc3hygJ

Further company coverage: LTIM.NS

(([email protected];))

Oct 22 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LAUNCHES 'AI-SMART UNDERWRITER' SOLUTION

Source text for Eikon: ID:nBSE352z9N

Further company coverage: LTIM.NS

(([email protected];;))

** Shares of IT services firm LTIMindtree LTIM.NS plunge 5.7% to 6,029.7 rupees

** Co missed Q2 revenue estimates, hurt by weak tech spending

** Stock top pct loser on Nifty IT index .NIFTYIT, which is down 2%

** Analysts' avg rating on stock is "Hold", median PT is 6,200 rupees - LSEG data

** Stock erases YTD gains, down 3.8% so far this year

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Oct 17 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE Q2 CONSOL NET PROFIT 12.51 BLN RUPEES; IBES PROFIT EST. 12.25 BLN RUPEES

• LTIMINDTREE Q2 CONSOL REV FROM OPS 94.33 BLN RUPEES; IBES EST. 94.42 BLN RUPEES

• DIVIDEND 20 RUPEESPER SHARE

• APPROVED CLOSURE OF UNITS LTIMINDTREE SPAIN S.L. AND LTIMINDTREE LLC

Source text for Eikon: [ID:]

Further company coverage: LTIM.NS

(([email protected];))

Oct 15 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - LTIMINDTREE GMBH AND NIELSEN + PARTNER UNTERNEHMENSBERATER GMBH HAVE MERGED

Source text for Eikon: ID:nBSE1YRJxC

Further company coverage: LTIM.NS

(([email protected];))

BENGALURU, Oct 10 (Reuters) - Tata Consultancy Services TCS.NS, India's top IT services company, reported a bigger-than-expected second-quarter revenue on Thursday on realisations from large deals bagged in the previous quarters.

The company's consolidated revenue rose 7.7% to 642.59 billion rupees ($7.66 billion) in the September quarter.

Analysts, on average, expected revenue of 640.93 billion rupees, as per LSEG data.

($1 = 83.9420 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)

(([email protected];))

** Shares of LTIMindtree Ltd LTIM.NS and Mphasis Ltd MBFL.NS up 2.4% each

** J.P.Morgan upgrades both IT stocks to "overweight" from "neutral", saying they are best-placed to benefit from recovery in spending by BFSI clients

** JPM raises PT on LTIM PT Street-high of 6,900 rupees vs current price of 6,253.05 rupees

** JPM raises PT on MBFL to Street-high of 3,400 rupees vs current price of 2,897 rupees

** Analysts on avg rate both stocks "hold" -LSEG data

** LTIM nearly wipes out YTD losses, while MBFL extends gains to 6.2%

** Still, they are 2nd and 3rd worst performers on 10-member Nifty IT .NIFTYIT index YTD

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Sept 27 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE CONSULTING BRAZIL INCORPORATED

Source text for Eikon: ID:nBSE5K03qC

Further company coverage: LTIM.NS

(([email protected];;))

Sept 19 (Reuters) - LTIMindtree Ltd LTIM.NS:

• GET TOTAL TAX DEMAND OF 879 MILLION RUPEES

• DEMAND IS UNJUSTIFIED, ARBITRARY; WILL TAKE APPROPRIATE LEGAL COURSE OF ACTION

Source text for Eikon: ID:nBSEbFLNv4

Further company coverage: LTIM.NS

(([email protected];;))

** Shares of LTIMindtree Ltd LTIM.NS rise as much as 5.2% to 6,030 rupees, set for best day since November 2023

** IT services provider at its highest since Jan. 17, top pct gainer on blue-chip Nifty 50 index .NSEI

** Kotak Institutional Equities upgrades LTIM to "add" from "reduce", raises PT to 6,200 rupees from 5,500 rupees earlier

** Brokerage expects consistently strong growth over the next two years after demand bottomed out in FY24 as IT spending in by U.S.-based BFS segment clients recovers

** Sees FY25 U.S. dollar rev rising 6.5% in FY25 and 11% in FY26 after 4.4% rise in FY24

** LTIM's "enviable list of high-quality, scalable clients", wide addressable market and ability to address various client needs should fuel consistent growth - Kotak

** LTIM and five other stocks on 10-member Nifty IT index .NIFTYIT rated "hold" - LSEG data

** Stock trims YTD losses to 4%, remains weakest performer on IT index

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Aug 13 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE- GOT TAX DEMAND FOR 624 MILLION RUPEES

Further company coverage: LTIM.NS

(([email protected];))

Aug 6 (Reuters) - LTIMindtree Ltd LTIM.NS:

• LTIMINDTREE - EXYTE SELECTS LTIMINDTREE AS ITS GLOBAL IT SERVICE PROVIDER

  
  

Further company coverage: LTIM.NS

(([email protected];))

Corrects paragraph 2 to say analysts' estimate was for revenue, not profit

BENGALURU, July 25 (Reuters) - Tech Mahindra TEML.NS, India's fifth-largest IT services firm by revenue, reported a smaller-than-expected fall in first-quarter revenue on Thursday, on the back of demand recovery in its manufacturing and healthcare segments.

Consolidated revenue in the first quarter fell 1.2% to 130.05 billion rupees ($1.55 billion). Analysts, on average, had expected revenue to fall 1.6% to 129.45 billion rupees, as per LSEG data.

($1 = 83.7090 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman )

(([email protected];))