LTIMindtree in focus ahead of Q4 results, shares trade flat

Shares of LTIMindtree are in focus as the company is going to announce Q4 results on Wednesday. After opening marginally higher the stock gained in morning deals on the NSE.

The stocks opened at ₹4740.05 apiece, up from the previous close of ₹4,723.4, and gained over 0.65% to touch an intraday high of ₹4,754.25 on the NSE.

LTIMindtree shares have suffered a substantial decline in 2024 dipping over 25% so far this year.

The market keenly awaits Q4 numbers of LTIMindtree with the expectation of a clear picture of the company's progress on the client mining strategy and other outlooks for the new financial year.

Experts’ predictions for LTIMindtree Q4 performance have been mixed with no clear picture of how the company has fared during the quarter and full financial year ending March 31, 2024. While some experts have suggested a marginal but positive growth to LTIMindtree's revenue and profit, others have remained a bit sceptical.

According to street estimates, the IT services arm of construction giant L&T could see a slight decline in its revenue for Q4FY24 due to the client's elongated decision-making cycle and certain ramp-downs.

The IT firm may also see a minor drop in its net profit and EBIT margins.

Last week, LTIMindtree announced a collaboration with global telecom giant Vodafone to offer business-critical applications for the IT sector. As part of the deal, the company will offer connected and smart Internet of Things solutions powered by its Insight NXT platform (iNXT) and Vodafone's IoT-managed connectivity. The combined offering will enable Industry X.0 and digital transformation across multiple vertical sectors, LTIMindtree said in an exchange filing.

Commenting on the development, Monish Mishra, Chief Business Officer- iNXT, LTIMindtree, said, "We are excited to collaborate with Vodafone and enhance our proposition on Industry X.0 and Industrial Digital transformation. We remain committed to working with customers across industries within the UK and Europe and getting them to the future, faster.”

LTIMindtree will design scalable comprehensive solutions harnessing the power of IoT, Metaverse, Artificial Intelligence, and Machine Learning. Further, these solutions will drive secure, connected ecosystems and deliver outcomes by deploying Vodafone’s "Managed IoT Connectivity" Network.

Shares of LTIMindtree were trading flat at ₹4,729.5 apiece, up 0.4%, on the NSE at 15:20 pm