L&T Mindtree

Shares of Larsen and Toubro (L&T) soared 2.3 per cent at Rs 3716.80 per share on the BSE in Thursday's intraday trade

Move will impact 600-700; letter says freshers have no other option but to accept the programme

Omnichannel travel services firm Thomas Cook India and its group company SOTC Travel on Tuesday partnered with LTIMindtree to launch 'Green Carpet', a global platform that will help companies to monitor and manage their business travel emissions. Markets regulator Sebi has mandated the top 1,000 listed companies in India by market capitalisations to make filings as per the Business Responsibility and Sustainability Reporting (BRSR) from 2023-24. A SaaS-based platform, "Green Carpet" is designed to address specific concerns faced by organisations, helping them capture, monitor, analyse and reduce their carbon emissions from business travel. It offers real-time insights related to Scope 3 emissions and helps organisations to significantly reduce their ESG reporting costs. "The Sebi (Securities and Exchange Board of India) BRSR mandate extends to the top 1,000 listed companies by market cap - starting from FY24. So this is an immediate need for these enterprises. "Of these 1,000 list

The latest version was launc­hed on January 23

Market experts said, several of these companies were already in violation of the filing rules due to their inability to submit certain forms, thanks to the portal issues

Analysts expect a 12-15 per cent upside from current levels

Enterprise value pegged at Rs 6,000 crore; portfolio includes 8 roads and one power transmission asset; deal closure likely by end of FY23

LTIMindtree has emerged as the fifth largest IT services player in terms of market capitalization post-merger

The board of directors of LTI and Mindtree fixed November 24, 2022 as the 'Record Date' for the purpose of determining eligibility of Mindtree shareholders to get shares of the amalgamated company.

Creates India's sixth largest IT services and fifth largest in market cap

Larsen & Toubro Infotech and Mindtree merger received the approval from National Company Law Tribunal

Analysts at the brokerage expect the company to deliver a 17 per cent dollar revenue growth annually between FY22-24

CLOSING BELL: This was the first gain for benchmark indices in seven days

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

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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

The boards of Mindtree Ltd. and Larsen & Toubro Infotech Ltd., two software units, could consider share swap ratios.

For L&T, this merger ties in with the group's vision of becoming more services-oriented

L&T is top pick in the wider Capital Goods sector as a proxy to play India's capex story, the brokerage firm said