LTI jumps over 4 per cent on expanding multi-year alliance with IBM

The global technology consulting & digital solutions company, Larsen & Toubro Infotech (LTI) announced on Tuesday that it has expanded its multi-year, global alliance with IBM, an American multinational technology & consulting company to transform its business operations through hybrid cloud adoption. 

LTI will leverage IBM Cloud offerings to help clients migrate and modernise core business applications. The company has developed industry-ready solutions to help clients automate, secure and modernise their business processes and applications by using IBM Cloud Paks, IBM Cloud, and IBM Watson offerings. 

As part of the alliance, both, LTI & IBM plan to establish an innovation centre in Bengaluru in 2021, which will offer a comprehensive suite of IBM’s Cloud, automation, integration, data & artificial intelligence solutions to foster innovation. 

LTI’s revenue mix consists of 7.2 per cent from the domestic market, 66.8 per cent from North America, 17 per cent from Europe, and 9 per cent from other markets. 

At 11.50 am today, the share of Larsen & Toubro Infotech was trading 4.30 per cent higher at Rs 4,426.4. It recorded an intraday high of Rs 4,443.75 and an intraday low of Rs 4,138 on BSE.