Subrahmanyan said the contribution of projects business to L&T’s overall revenue mix could down if the group’s services businesses grow at a healthy rate
This comes two months after former COO Nachiket Deshpande was appointed in a new role as the president of the company’s newly formed AI services business group.
Benchmark indices ended the day in the red for the sixth straight session, albeit off the day's lows. At close, the Sensex was down 638.45 points or 0.78 percent at 81,050, and the Nifty was down 218.80 points or 0.87 percent at 24,795.80.
Industry experts cite global demand softness as a persistent headwind for the IT sector, which heavily relies on international markets.
Kotak has raised its rating to 'Add' from 'Reduce' and increased the target price to Rs 6,200.
LTIMindtree stock has given a return of 11.38 percent over the last six months. The benchmark Nifty50 index has given a return of 8.90 percent over the same duration.
Under the partnership, LTIMindtree will play a pivotal role in supporting Infineon's SAP transformation endeavours, while enabling operational excellence and process efficiencies, the company said in a release
LTIMindtree stock is the most expensive stock among the large vendors but its profit margins are significantly lower than TCS, Infosys
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