MindTree Wins Prestigious Corporate Governance Awards

MindTree Wins Prestigious Corporate Governance Awards

Global IT and Product Engineering Services Company, MindTree Limited has won two prestigious awards in the area of Corporate Governance. World Finance Corporate Governance Awards 2012 - MindTree was awarded the "Best Corporate Governance, India, 2012" by World Finance magazine, at a ceremony held on February 3, 2012, at the London Stock Exchange. - "The importance of high-grade corporate governance in India is a hugely important aspect in filling possible investors with the confidence to invest in specific companies in the region," a spokesperson for World Finance said "Markets, as we know, are based around confidence; and World Finance believes that MindTree is a company at the vanguard of corporate governance in India, and that it represents one of the most exciting companies not only to invest in but to trust in and build a future with over the long term. MindTree is an example that other companies in India need to follow." World Finance assessed its award nominees using a number of criteria, including governance structure, board composition, and transparency. In the assessment, MindTree scored particularly highly in the areas of investor relations quality, client appraisals, commitment to social responsibility, and future growth predictions. Asiamoney Corporate Governance Poll 2011 - MindTree has been ranked No.3 in India in the ‘Best overall for Corporate Governance" category. - Asiamoney magazine conducts its annual Corporate Governance Poll with CEOs, CIOs and senior executives from fund management and hedge fund companies in the Asia-Pacific region as well as Heads of Research and senior analysts in brokerages across the region. - Assessment is based on criteria such as Disclosure and Transparency, Shareholders right and equitable treatment, responsibilities of Management and the Board of Directors and Investor relations. "We are extremely delighted to have won these awards, especially since the area of corporate governance is increasingly gaining significance in today's world. We strongly believe in ethical business conduct, integrity and commitment to values, which in turn enhance and retain stakeholders' trust. This we believe are the hallmarks of corporate governance" said Chief Financial Officer, MindTree, Rostow Ravanan. "This is a proud moment for us as these awards validate MindTree's commitment to being a responsible corporate citizen and being admired for its corporate governance practices. We would like to thank our Board for their strong support over the years in driving high standards of corporate governance" said CEO and Managing Director, MindTree, Krishnakumar Natarajan. The MindTree Ltd stock was trading at Rs.447.95, up by Rs.3.60 or 0.81%. The stock hit an intraday high of Rs.449.55 and low of Rs.436.55. The total traded quantity was 977 compared to 2 week average of 39745.

Source: Equity Bulls

Posted On: 2012-03-07 01:18:09