LTIMindtree was formed after the merger of L&T Infotech (LTI) and Mindtree and commenced trading on the Indian stock market under its new name in December 2022.
HDFC, the parent of HDFC Bank, merged with the lender last week. HDFC Bank is also the country’s largest private-sector lender. The record date is July 13 for determining the shareholders of HDFC, who shall be issued and allotted the shares of HDFC Bank.
Speaking on the development, SN Subrahmanyan, chief executive officer and managing director of Larsen & Toubro Limited (L&T), and vice-chairman, LTIMindtree, said, “LTIMindtree plays a crucial role in the technology-led growth ambition of L&T Group, and we are thrilled to celebrate our inclusion in the NIFTY 50 index.”
LTIMindtree’s inclusion in this index follows the recent development of both CRISIL and India Ratings, reaffirming LTIMindtree’s long-term rating as AAA / Stable.