LTIMindtree trades down despite ties with US insurer for digital transformation

In the quarter ended June 2023, the company had posted 4 percent jump in its net profit at Rs 1,151.50 crore.

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Shares of LTIMindtree were down marginally in early trade on August 18. The largest supplemental insurance provider in the US has selected the company as its digital transformation partner.

At 9:23am, LTIMindtree was quoting at Rs 5,055.50, down Rs 37.15, or 0.73 percent, on the BSE.

The company has been selected by Aflac Incorporated to digitally transform the organization by leveraging the cloud-native services of Amazon Web Services (AWS).

As part of the engagement, the company will rearchitect Aflac’s on-prem applications that are currently deployed on an out-of-support-platform.

Moving to AWS will protect Aflac from security risk and positively impact its users, including the agent community.

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In July, the company announced a strategic partnership with CYFIRMA to enhance the threat intelligence capabilities of its XDR platform and help global enterprises identify, evaluate, and manage potential risks and threats.

In the quarter ended June 2023, the company had posted 4 percent jump in its net profit at Rs 1,151.50 crore.

LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.