National Stock Exchange of India Ltd. (NSE) has included Larsen & Toubro Infotech (NSE: LTI); a global technology consulting and digital solutions company, in its coveted Nifty Next 50 Index. LTI got listed in July 2016, and the company has grown rapidly during last four years, leading to this significant milestone in its growth journey.
The NIFTY Next 50 Index is computed basis free float methodology i.e taking the firm’s equity price and multiplying it by the number of shares readily available in the market. It is a significant recognition as it represents top 50 companies that are considered most lucrative for investors. Roughly over 10% of the stocks traded on NSE constitute from NIFTY Next 50 Index and this is increasing year-on-year.
LTI’s inclusion in this index follows the latest development of CRISIL upgrading LTI’s long-term rating from AA+/Positive to AAA/Stable. This upgrade also showcases company’s strong business fundamentals and healthy business performance supported by steadily growing deal pipeline, diversified service offerings across multiple verticals and increasing share of digital revenues.