LTIMindtree said this is the largest deal in the company’s history.
As part of the seven-year deal, LTIMindtree will implement an AI powered operating model to deliver application management, infrastructure support and cybersecurity services, the company said.
The suite of future-ready IT services, built on platforms such as SAP S/4HANA, ServiceNow, Microsoft Azure, proprietary AI frameworks are aimed at enhancing the client’s operational efficiency, scalability and global growth, it added.
“Securing this large deal marks a pivotal milestone as we transform to an AI driven business model, helping our clients enhance productivity,” Venu Lamba, CEO (designate) and whole-time director, LTIMindtree, said.
LTIMindtree’s rally on Monday also comes in light of the announcement made by the US to reduce tariffs on China to 30% from 145% for 90 days.
The US and China will temporarily lower tariffs on each other’s products, according to a joint statement released in Geneva, in a move to cool trade tensions and give the world’s two largest economies three more months to resolve their differences.
The combined 145% US levies on most Chinese imports will be reduced to 30% including the rate tied to fentanyl by May 14, while the 125% Chinese duties on US goods will drop to 10%, according to the statement.
Shares of LTIMindtree gained nearly 7.7% to hit an intraday high of ₹4,977 apiece. The stock has gained 14.8% in the past month.
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