LTIMindtree shares slip despite securing Rs 792 crore PAN 2.0 project; analysts weigh in

Shares of LTIMindtree Ltd were last seen trading in Thursday's trade, even as the company secured a Rs 792 crore mandate from the Central Board of Direct Taxes (CBDT) to transform India's PAN (Permanent Account Number) infrastructure. The stock slipped 1.03 per cent to hit a day low of Rs 4,985.50.

As part of this government project, LTIMindtree will consolidate all PAN and TAN-related services into a single, streamlined digital platform. The PAN 2.0 initiative aims to make it easier for individuals and businesses to access and manage one of India's core financial identity systems.

Under the contract, LTIMindtree will design, build, and operate the entire technology backbone of the platform. This includes setting up the infrastructure, security frameworks, automation mechanisms and providing ongoing operations support. The company will deliver an end-to-end digital AI ecosystem that spans the entire PAN service lifecycle -- from application and validation to printing and dispatch -- all through a user-friendly interface.

"We're honoured to be entrusted with building this next-generation platform," said Venu Lambu, CEO and Managing Director of LTIMindtree. "PAN 2.0 is a flagship opportunity to demonstrate how AI and technology can elevate the everyday experience of citizens. It strengthens our partnership with the Government of India and reflects our shared commitment to building a resilient, future-ready public digital infrastructure."

According to the company, the rollout of PAN 2.0 is planned over the next 18 months and is expected to significantly improve the efficiency and transparency of tax identity services in India. Besides upgrading operations, the initiative aims to bolster the government's digital transformation efforts by introducing smarter processes, enhanced safeguards and improved accessibility for millions of users.

Although the development appeared promising, some analysts remained cautious about the stock. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, noted that the counter is in a consolidation phase and advised investors to accumulate the stock on dips.

Drumil Vithlani, Technical Research Analyst at Bonanza, said, "The IT index has corrected by around 13.42 per cent from its recent high, while LTIM has declined by 9.44 per cent, showing relative resilience but still indicating a weak structure. The stock is currently trading below all key moving averages, pointing to a bearish undertone and lack of momentum. Rs 5,248 remains a crucial resistance level and unless the stock closes above this mark, it will likely stay in a consolidation-to-downtrend phase. Given these signals, it is advisable to avoid fresh positions unless there is a convincing breakout above Rs 5,248."

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, highlighted a cautious near-term view on LTIMindtree. He stated, "Rs 4,850 level is expected to offer support against short-term setbacks. However, a breach below this could lead to a further decline towards the Rs 4,650 mark. On the upside, a decisive move above Rs 5,200 may invalidate the current sluggish trend and potentially spark fresh long-term momentum in the stock."

Jigar S Patel, Senior Manager – Technical Research Analyst at Anand Rathi, observed that support for LTIMindtree is seen at Rs 4,800, with immediate resistance at Rs 5,100. A sustained move above Rs 5,100 could take the stock up to Rs 5,300, with a near-term trading range of Rs 4,800–5,300.