Shares of LTIMindtree were in focus on August 4, rising 0.86% to Rs 5,060.50 as of 1:13 PM IST, following reports that the company has secured a major government contract under the PAN 2.0 initiative. The stock had previously closed at Rs 5,017.50.
The PAN 2.0 project, earlier managed by e-Protean, has now been reportedly awarded to LTIMindtree after the former failed to qualify in the second round of bidding. This large-scale digital initiative involves a complete revamp of the Permanent Account Number (PAN) system in India.
The scope of the project includes the design, development, implementation, operations, and maintenance of a unified platform. The upgraded PAN system is intended to function as a common business identifier across multiple digital government platforms, aiming to enhance ease of compliance and streamline taxpayer services.
As of 1:13 PM, LTIMindtree’s stock traded near the upper end of its day’s range of Rs 4,939.50 to Rs 5,063.00. The company’s market capitalization stood at approximately Rs 1.49 lakh crore.
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