LTIMindtree stock rises 1% on partnering with Metasphere to deliver smart sewers solutions

Shares of LTIMindtree rose 1 percent in early trade on December 1 post the announcement of a strategic partnership with Metasphere to deliver smart sewer solutions. At 9:29 am the LTIMindtree stock was trading at Rs 5571.34 on NSE.

LTIMindtree, the technology consulting and digital solutions company has been selected as a strategic partner by Metasphere, a wastewater application specialist, to scale their smart sewers management platform. The partnership was announced officially by LTIMindtree through an exchange filing on November 30.

LTIMindtree stock call: Check brokerage views, target price

Macquarie’s positive outlook on LTIMindtree includes an “Outperform” rating and a target stock price of Rs 7,050 in a recently released report. The report further stated that, LTIMindtree’s focus is on enhancing cross-selling, intending towards enhancing services for clients. The company aims to drive 70 percent of revenue from the growth of its top 100 accounts.

Notably, the brokerage firm believes that Manufacturing, Energy, Travel, and Insurance segments are expected to outpace other sectors. Additionally, LTIMindtree contemplates mergers and acquisitions in the small-scale healthcare vertical, suggesting potential strategic shifts in its business landscape.

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Further, LTIMindtree will transform Metasphere’s next-generation wastewater monitoring solution portfolio, and enable scalable delivery and platform to their customers.

LTIMindtree stock performance

LTIMindtree stock has given a return of 11.38 percent over the last six months. The benchmark Nifty50 index has given a return of 8.90 percent over the same duration.

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