It was a great listing for MindTree Consulting. It begun the day with 47.5% premium over its offer price of Rs 425 per share and touched an intraday high of Rs 673.75 and low of Rs 576. Its low level was like a support because it did not break that despite market has fallen nearly 300 points during the day. Other issues slipped over 20% but this stock remained stable in intraday trade though some profit booking at Rs 600 level. It ended the day with 47% premium at Rs 625, with volumes of 1,25,94,176 shares.
The company managment said its 75% of revenues come from IT, 25% from R&D. They hope to see both business growing at same rates and put a next goal to achieve USD 1 billion in revenues.
Its Chennai SEZ is going to be operational by October 2007, they said.
MindTree is organised into two divisions – Information Technology Services and Research and Development Services. IT Services comprise IT strategic consulting, application development and maintenance, package implementation and product engineering services. The IT Services business unit offers such services with a strong focus on certain industries including manufacturing, travel and transportation, banking, financial services and insurance.
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