LTIMindtree Shares Rise 1.5% as MoU Signed for AI and Digital Hubs with Eurolife FFH

22 Feb 2024 , 01:07 PM

LTIMindtree shares gained 1.5% on February 22 following the signing of an MoU with Eurolife FFH to establish generative AI and digital hubs in Europe and India. The stock was trading at ₹5,413.30 on the National Stock Exchange at the time of writing.

LTIMindtree and Eurolife FFH will set up facilities in Poland and Mumbai, with Eurolife FFH establishing a ‘Generative AI and Digital Hub’ in Athens to innovate solutions for insurance businesses in Greece.

LTIMindtree will contribute ‘deep domain expertise and support’ from its facilities in Poland and Mumbai. Eurolife FFH is a Fairfax Financial Holdings group company specializing in insurance.

In Q3FY24, LTIMindtree reported a 16.8% YoY increase in net profit to ₹1,169 Crore, driven by an all-time high quarterly order book. Revenue for the same period grew by 4.6% to ₹9,016 Crores.

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