LTM shares hit a day high of Rs 4,125 on 27 October, up 1%, after the firm bagged a deal worth up to $100 million from a global banking firm.

LTM Limited, formerly known as LTIMindtree Limited, said in a press release posted on NSE at 9:58 am that the contract has already begun.

It runs for two years. LTM also has the option to extend it by one more year.

LTM calls the engagement strategic, though the $100 million is a ceiling, not a promised figure. The client has not been named.

LTM will be its preferred partner for technology work across the client’s wealth business, its personal banking arm and its global functions.

In simple terms, the client wants fewer outside technology vendors, so each one it keeps gets a bigger share of the work.

LTM said it will bring its banking experience, engineers and global delivery network to the job, along with AI-led engineering.

The Larsen & Toubro Group company has more than 88,000 employees across 40 countries. The company reported its July-September results on 16 October.

Revenue from operations rose 13.6% from a year earlier to Rs 11,807.6 crore, while net profit stood at about Rs 1,398 crore, down roughly 5% from the previous quarter.

Order inflow for the quarter was $1.26 billion, down about 21% from a year ago. The board also declared an interim dividend of Rs 25 a share, with 23 October as the record date.

At 14:13 pm, LTM shares were trading at Rs 4,080.10 on NSE, up by 0.13% from the previous close of Rs 4,074.90.

It’s down about 33% so far this year and roughly 28% over 12 months, with a market value near Rs 1,21,033 crore.

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