India's IT services industry is witnessing a surge in mergers and acquisitions, particularly among mid-cap companies, as AI-led pricing pressure and macroeconomic uncertainty compel firms to seek scale, capabilities, and broader market reach. This trend is exemplified by the recent merger of Happiest Minds Technologies and ITC Infotech, aiming to offer end-to-end solutions and compete for larger transformation programmes.
Larsen and Toubro Infotech has signed an agreement to acquire GDA Technologies and all its design centres in the US and India.
Lawsuit has been brought on behalf of Deepa Shanbhag and 1,500 past and present women employees.
L&T Infotech and Mindtree on Friday announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding $3.5 billion in combined revenue, according to a statement. The name of the combined entity will be 'LTIMindtree', the statement said. In an all-share deal, L&T Infotech will offer 73 shares for every 100 shares of Mindtree.
Mumbai-based L&T Infotech, a part of the Larsen &Toubro group, is evaluating acquisitions of $50-200 million (close to Rs 200-820 crore) in the US, Europe and India in a bid to boost revenues.
The withdrawal of offer letters is an indication that the company might have overestimated its future business after giving offer letters.
Honed and utilised in-house for over three years, the engineering major's new arm - L&T-Nxt - will focus on AI, IoT, vitual reality and cyber security among other fields of digitisation.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
L&T Infotech hits the refresh button, rebrands itself as LTI With a new name, colour palette and business focus, L&T Infotech looks to break free of its past
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
Among the gainers, microfinance player Ujjivan Financial Services which made its stock market debut in May has seen the biggest rally in its share price.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
As IT midcap stocks ride high, it has created speculation around a potential bubble with analysts picking the midcaps' client concentration as the biggest concern area.
The S&P BSE Sensex surged 160 points to close at 25,262.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The company's transition from an individuals-driven private firm to a board-driven listed public one will be carried out in a well-thought-through and well-executed manner.'
Indian tech professionals are one of the major beneficiaries of H-1B visas.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Indian IT players, over the past few years, have pressed the paddle on re-training of their employees as new technologies take centre-stage.
The attempted hostile takeover bid of Mindtree by Larsen & Toubro is a "grave threat" and "value destructive" to the organisation collectively built over 20 years, the promoters said pledging to "unconditionally oppose" the hostile takeover attempt.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Larsen & Toubro, now one of Satyam's largest single shareholders with 4 per cent, sees a lot of synergy between the core strengths of the beleaguered software giant with those of L&T Infotech, its unlisted information technology subsidiary.
Sudip Banerjee, CEO, L&T Infotech talks about business post-Satyam, expansion plans and bigger acquisition targets.
A M Naik, chairman and managing director of L&T, said the details, such as the size of the funds required for each of these companies and proposed dilution of the equity, were yet to be worked out.
L&T Infotech Ltd, the wholly owned subsidiary of Larson and Toubro, will hire 1,800 people over the next 18 months to reach a total strength of 5,000 professionals.
Chatterjee said the compNY is not aware of any major client concerns at this point.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
L&T -- which has two subsidiaries L&T Infotech and L&T Technology Services -- is keen to bring Mindtree under its fold to exponentially raise its client base and product offering.
To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Gains were led by Tata Motors amid robust sales in June along with select financials.
David, is set to join Hewlett Packard Enterprise as a senior VP for Enterprise Services Delivery.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unfavourable secondary market conditions aren't a big concern for IPOs by good quality companies.
