MindTree L&T

Biocon, Gland Pharma, Mphasis and Bandhan Bank may move out, says note by Nuvama Alternative & Quantitative Research

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

In a Q&A, Debashis Chatterjee, who is also the firm's CEO, talks about the demand environment, merger with LTI and moonlighting

Mindtree, a Larsen & Toubro Group company, is planning to set up a development centre in Kolkata, which could create employment opportunities for 15,000-20,000 people in the next four-five years, a company official said here on Wednesday. The IT services firm has already onboarded 1,700 people in its existing facility in the West Bengal capital so far, he said. "We have taken up 19 acres of space. Hopefully, things will start. The construction will be done by L&T... the management is committed. We will set up a huge centre," Mindtree Ltd Chief Executive Officer and Managing Director Debashis Chatterjee said at ICT East organised by CII. The development centre can create employment opportunities for 15,000-20,000 people, he said. The IT company had in March announced the opening of its first development centre in Kolkata. Another IT company of the L&T group, Larsen and Toubro Infotech (LTI) had in June also announced opening up of a new centre in the eastern ...

Capital markets regulator Sebi on Monday imposed fines totalling Rs 4 lakh on four individuals for violation of insider trading norms in the shares of Mindtree Ltd during the January-March 2019 period

Mindtree on Friday said it has completed acquisition of the NxT Digital Business from Larsen and Toubro (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. "The company has consummated the acquisition of L&T's digital transformation business undertaking (NxT Digital Business) on July 1, 2021, consequent to completion of customary conditions precedent agreed under the business transfer agreement dated May 20, 2021, between the company and L&T," Mindtree said in a regulatory filing. L&T is also the promoter/holding company of Mindtree with a 61.03 per cent stake in the Bengaluru-based company.

Krishnakumar Natarajan sold 1.7 million equity shares, amounting to Rs 207 crore, on September 14, 2020 through open market, Mindtree said

The company's consolidated net profit declined 53% to Rs 93 crore in Q1FY20 against Rs 198 crore in Q4FY19.

The stock fell below its previous low of Rs 753 touched on October 26, 2018 in the intra-day deals. Meanwhile, the stock on Monday turned ex-date for dividend of Rs 24 per share.

Mindtree shares have lost close to a quarter of their value in the last two trading sessions at stock exchanges

Executive Chairman Krishnakumar Natarajan, Executive VC and COO N S Parthasarathy, and MD and CEO Rostow Ravanan had put in their papers as members of the board and as well as employees of the company

Mindtree is scheduled to hold its next annual general meeting (AGM) on July 16

Mindtree founders couldn't convince institutional investors to stay on in their last meeting

On Monday, L&T entered into a deal to purchase the 20.32 per cent stake of MindTree's single-largest investor, V G Siddhartha, at Rs 980 per share in an all-cash transaction