04-12-2024 10:00 AM | Source: Accord Fintech
L&T Technology rises on securing $50 million deal from leading global network solutions firm

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L&T Technology Services is currently trading at Rs. 5377.15, up by 63.20 points or 1.19% from its previous closing of Rs. 5313.95 on the BSE.

The scrip opened at Rs. 5359.80 and has touched a high and low of Rs. 5379.50 and Rs. 5329.05 respectively. So far 34 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 5990.00 on 29-Aug-2024 and a 52 week low of Rs. 4228.00 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 5442.00 and Rs. 5220.90 respectively. The current market cap of the company is Rs. 56243.61 crore.

The promoters holding in the company stood at 73.69%, while Institutions and Non-Institutions held 18.08% and 8.23% respectively.

L&T Technology Services (LTTS) has been selected by a leading global network solutions firm to provide Product Integration Services in North America, ensuring seamless deployment and support for customers across the region. The multi-year agreement, estimated at $50 million, will enable the company to provide comprehensive support for the client’s advanced networking solutions, ensuring seamless integration and success for customers across the region. LTTS will leverage its capabilities in AI and automation frameworks for the project deployment and execution.

The partnership combines LTTS’ deep expertise in engineering and R&D services with the client’s cutting-edge wireless networking solutions. Additionally, the companies aim to offer secure LTE and 5G private networks across industries, unlocking new opportunities and enabling future-ready operations. The partnership will address current market demands while positioning itself for upcoming 5G advancements under 3GPP standards. 

L&T Technology Services is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services.