LTIMindtree stock down by more than 1% today

5 Dec 2022 , 12:51 PM

Earlier today, shares of LTIMindtree, the newly formed company from the merger of LTI and Mindtree, started trading. After closing at Rs. 5,068 on Friday, the stock was trading 1% down on the BSE at Rs. 5,006 at 11:22 AM. The exchange data indicates that so far, in intraday activity, it has reached a high of Rs 5,120.40 and a low of Rs 4,984.40.

LTIMindtree, a scaled-up IT services provider with a client portfolio of more than 750 global enterprises and close to 90,000 professionals in more than 30 countries across five continents, was established on November 14, 2022, through the merger of former Larsen and Toubro Infotech (LTI) and Mindtree, leading technology consulting and digital solutions companies.

Owners of former Mindtree shares, which were delisted as of November 23, 2022, received former LTI in the ratio of 73 former LTI shares (now known as LTIMindtree) for every 100 former Mindtree shares. L&T, the business’s parent, owns 68.73 percent of LTIMindtree.

According to BSE data, LTIMindtree’s market capitalization is currently Rs 1.48 trillion. Top of the list is Tata Consultancy Services (TCS), with a market capitalization of Rs. 12.49 trillion, followed by Infosys (Rs. 6.85 trillion), HCL Technologies (Rs. 3.07 trillion), and Wipro (Rs 2.26 trillion). Data indicates that Tech Mahindra has a market capitalization of Rs. 1.07 trillion.

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