Larsen & Toubro Infotech plans to expand its multi-year, global alliance with IBM (NYSE: IBM) to help businesses transform their operations through open hybrid cloud adoption. With the proposed center, LTI will help their clients migrate and modernize core business applications leveraging IBM's open hybrid cloud platform built on Red Hat OpenShift.

LTI has developed industry ready solutions using hybrid cloud capabilities from IBM including Cloud Pak for Data and Cloud Pak for Automation, and offerings that integrate IBM Watson solutions, to help their clients automate, secure and update their business processes and applications. These include iDigitalization to automate workflow and digitize enterprise business processes, iMaximize to help modernize the enterprise integration landscape with pre-built accelerators, and Make-the-Shift to help overhaul legacy workloads.

As part of this relationship, LTI and IBM plan to establish a center of excellence in Bengaluru (India) in 2021. This center will offer a comprehensive suite of IBM's Cloud, Automation, Integration, Data & Artificial Intelligence (AI) solutions to foster innovation. IBM plans to provide training to LTI employees to facilitate creation workshops and IBM solution development for LTI clients.

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Larsen & Toubro Infotech Ltd is up for a third straight session in a row. The stock is quoting at Rs 4340, up 2.23% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.33% on the day, quoting at 14531.85. The Sensex is at 49357.56, up 0.18%. Larsen & Toubro Infotech Ltd has risen around 34.16% in last one month.

Meanwhile, Nifty IT index of which Larsen & Toubro Infotech Ltd is a constituent, has risen around 18.5% in last one month and is currently quoting at 27027.7, down 0.27% on the day. The volume in the stock stood at 3.54 lakh shares today, compared to the daily average of 4.47 lakh shares in last one month.

The PE of the stock is 46.06 based on TTM earnings ending September 20.

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Larsen & Toubro Infotech (LTI) has become an Elite Services Partner of Snowflake, the Data Cloud company. Elite Partner represents the highest level of partnership in Snowflake Partner Network. This achievement recognizes LTI's commitment in delivering amplified outcomes at scale and speed on Snowflake's Data Cloud. The status differentiates LTI as a preferred services partner for Snowflake with proven expertise and experience.

LTI has also become the maiden partner for Snowcase, a program that Snowflake is launching to develop and market industry-specific solutions to accelerate cloud data transformation journey of enterprises. The first Snowcase being launched with LTI is 'Data-Driven Manufacturing Transformation' highlighting best practices from LTI's marquee Snowflake implementation for a global manufacturer. The accelerated migration and platform simplification of existing data platform to Snowflake data cloud was done leveraging LTI Canvas PolarSled, LTI Mosaic & Qlik.

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Larsen & Toubro Infotech Ltd gained for a third straight session today. The stock is quoting at Rs 3961.4, up 3.02% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.13% on the day, quoting at 14150.95. The Sensex is at 48267.83, up 0.19%. Larsen & Toubro Infotech Ltd has gained around 21.11% in last one month.

Meanwhile, Nifty IT index of which Larsen & Toubro Infotech Ltd is a constituent, has gained around 13.38% in last one month and is currently quoting at 25110.05, up 1.33% on the day. The volume in the stock stood at 3.73 lakh shares today, compared to the daily average of 3.63 lakh shares in last one month.

The PE of the stock is 41.73 based on TTM earnings ending September 20.

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