LTIMindtree shares in focus as it inks multi-year agreement with global media firm

Shares of LTIMindtree Ltd. gain on Tuesday, October 7, after the company on Monday said it has entered a multi-year agreement with a leadership global media and entertainment company. The company has not been named in the deal.As per the agreement, LTIMindtree said it will play a role in the media company’s digital transformation efforts to streamline operations and modernise delivery models. It will also incorporate automation, process optimisation and consolidation to deliver great efficiency and support service quality.

The company called it its largest strategic deal to date.

Venu Lamba, the CEO and managing director of LTIMindtree said, the company is proud to deepen its collaboration with the media and entertainment house.In August, LTIMindtree had won the PAN 2.0 Project by the Income Tax Department, sources had to told CNBC-TV18. The project is set to go live in 18 months and is aimed at making the PAN/TAN experience simpler, faster and more citizen-friendly, the sources had said.

According to a Reuters report, the deal size is pegged at $580 million, which could be the largest deal that the company has signed till date.

Shares of LTIMindtree were up 1% ₹5,330 apiece around 9.20 am. The stock has gained 31.4% in the last six months but has declined 6.05% this year, so far.

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