LTIMindtree launches comprehensive data protection, recovery platform; shares retreat from 52-week high

LTIMindtree shares gave up initial gains amid choppy trade on Thursday, retreating from a 52-week high hit the previous day, after the company launched a comprehensive cyber-recovery and data protection platform, LTIMindtree V-Protect. The stock of LTIMindtree gained by as much as Rs 23.2 or 0.4 per cent to Rs 5,263.9 apiece in early deals on BSE after slipping into the red. 

Powered by US-based Cloud data management and security company Rubrik, LTIMindtree V-Protect is a first-of-its-kind offering from LTIMindtree that provides data protection and seamless recovery for M365 workloads such as Exchange, SharePoint, OneDrive and Teams, the Mumbai-based company said in a statement. 

The solution is designed to mitigate the effects of ransomware attacks, human errors, and data policy breaches to user and company data, as well as validate data compliance, it added. 

LTIMindtree said the solution deepens its partnership with Rubrik to deliver an enhanced customer experience. 

“The rate of technological advancements and enablement have led to copious amounts of data being generated. Organizations that recognise they are at risk want to move swiftly and remain prepared when odds are stacked,” said Sivaramakrishnan Senthatty, Executive Vice President and Global Service Line Head of Cloud, IT Infrastructure and Cybersecurity Services at LTIMindtree.

In late morning deals, LTIMindtree shares traded with a loss of Rs 20.7 or 0.4 per cent at Rs 5,220 apiece on the bourse, having receded by Rs 205 from a 52-week high scaled the previous day. 

The stock reached the milestone on Wednesday after NSE said it would replace HDFC with LTIMindtree in its benchmark Nifty index, effective July 13.

The development followed the completion of a mega merger between HDFC and HDFC Bank on July 1. 

LTIMindtree shares: Past performance

LTIMindtree shares have risen almost 21 per cent in the past one year, sharply outperforming a seven per cent rise in Nifty. 

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