(Reuters) -Indian software services exporter LTIMindtree bagged a $450 million multi-year deal, its largest ever, the company said on Monday. Its shares rose as much as 7.7%. They were trading about 6% higher before the news, tracking a broader IT sector rally on easing global recession worries. LTIMindtree said the customer was a global agribusiness […]
Science
Indian IT exporter LTIMindtree bags $450 million deal, its largest ever
Audio By Carbonatix
(Reuters) -Indian software services exporter LTIMindtree bagged a $450 million multi-year deal, its largest ever, the company said on Monday.
Its shares rose as much as 7.7%. They were trading about 6% higher before the news, tracking a broader IT sector rally on easing global recession worries.
LTIMindtree said the customer was a global agribusiness company, without disclosing the name.
The deal comes at a time when larger peers are struggling to secure mega deals as macroeconomic uncertainties and tariff risks weighed on India’s $283 billion IT sector.
Large deals are key revenue drivers for IT services companies.
Last month, the company reported fourth quarter revenue that marginally missed estimates.
(Reporting by Nandan Mandayam in Bengaluru, additional reporting by Sai Ishwarbharath B; Editing by Mrigank Dhaniwala)