L&T Infotech wins multiyear engagement with Swedish Company

Larsen & Toubro Infotech Ltd. (LTI) announced on Thursday that it has won a multiyear engagement with Swedish financial services company, Hoist Finance AB, to manage its IT Operations.

LTI already has a strong presence in the Nordic region and partners with leading companies across industries. With presence in 11 European countries, Hoist Finance is headquartered in Sweden and is listed on NASDAQ OMX Stockholm exchange.

Speaking about the announcement, Sudhir Chaturvedi, the President and Executive Board Member, LTI, said, "to be the breakaway leader in their domain, banking and financial services enterprises, we need to offer superior customer experience and operate with extreme efficiency. We look forward to partnering with Hoist Finance to fulfill these objectives with our robust offerings that enable companies to use superior operations as a lever of transformation.”

Larsen & Toubro Infotech Limited is engaged in computer programming, consultancy and related activities. The company's business segments include industrial cluster and services cluster. The industrial cluster segment consists of energy and process, consumer packaged goods, retail and pharmaceuticals, hi-tech and consumer electronics, automotive and aerospace, plant equipment and utilities, and engineering and construction. The services cluster segment consists of banking and financial services, insurance, media and entertainment, travel and logistics, and other miscellaneous business verticals.

At 3:00 pm on Thursday, the stock was trading at Rs. 1,638.70, up by 0.29 percent or Rs. 4.70 per share. The 52-week high was recorded at Rs. 1665 and the 52-week low was recorded at Rs. 1,637.30.