PHINIA partners with Global Tech Firm for Strategic Transformation of Infrastructure and Application Services
The stock is down by 9 per cent in 1 year and has given multibagger returns of over 200 per cent in 5 years.
PHINIA Inc., a global leader in fuel and electrical systems, has joined forces with LTIMindtree to revolutionize its IT infrastructure. This strategic partnership will see LTIMindtree providing comprehensive support and transformation services, including application maintenance and development, leveraging AI and automation to streamline operations, mitigate risks, and enhance business agility. By integrating these advanced technologies, PHINIA aims to simplify its application landscape and boost efficiency across its diverse product portfolio, which includes renowned brands like DELPHI®, DELCO REMY®, and HARTRIDGE™, spanning commercial, industrial, and automotive sectors.
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About the Company
Larsen & Toubro Infotech Ltd, now operating as LTIMindtree, offers a comprehensive range of IT services including application development, maintenance, outsourcing, enterprise solutions, infrastructure management, testing, digital solutions, and platform-based solutions. The company recently merged with Mindtree, enhancing its capabilities and market reach. LTIMindtree's revenue is diversified across various verticals, with Banking, Finance Services & Insurance contributing 36.5 per cent, and Hi-Tech, Media & Entertainment accounting for 23.8 per cent.
Geographically, North America is the largest market, representing 73.4 per cent of revenues. The company has a strong client base with over 700 clients, and its top 20 clients contribute 45.2 per cent of revenues. LTIMindtree has made strategic acquisitions, such as Cuelogic, to bolster its service offerings and competitive edge. The company maintains strategic alliances with major technology firms like Microsoft, SAP, and Oracle, and has expanded its global presence with a new branch office in South Korea.
LTIMindtree's market capitalization is over Rs 1.3 lakh crore. The stock is down by 9 per cent in 1 year and has given multibagger returns of over 200 per cent in 5 years. The Price-Earnings (PE) Ratio is 29.
Disclaimer: The article is for informational purposes only and not investment advice.