LTTS rises on winning 50 million euro transformational deal in mobility segment in Europe
L&T Technology is currently trading at Rs. 4549.95, up by 49.05 points or 1.09% from its previous closing of Rs. 4500.90 on the BSE.
The scrip opened at Rs. 4512.30 and has touched a high and low of Rs. 4576.80 and Rs. 4478.20 respectively. So far 4246 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. 4727.70 and Rs. 4420.70 respectively. The current market cap of the company is Rs. 48174.73 crore.
The promoters holding in the company stood at 73.66%, while Institutions and Non-Institutions held 18.25% and 8.09% respectively.
L&T Technology Services (LTTS) has signed pivotal deal worth Euro 50 million with a prominent European Automotive OEM. This milestone agreement marks a significant achievement for LTTS in its Mobility segment, strengthening its position as a trusted engineering partner in the global automotive ecosystem. The latest large deal engagement focuses on the development and operation of next-generation software platforms tailored to both current and upcoming vehicle models. The comprehensive scope of this transformational deal includes the establishment of a development center, which will play a critical role as part of the client’s global right shoring strategy.
The client’s advanced technology stack includes a unified architecture, a proprietary operating system, and an automotive cloud. Alongside this, the client is spearheading the development of cutting-edge vehicle features such as driver assistance systems, standardized infotainment platforms, software solutions integrating powertrains, chassis and charging infrastructure, and an expansive digital ecosystem delivering enhanced in-car digital services.
The company has secured this prestigious deal through its expertise in Software Defined Vehicle (SDV) development, Advanced Driver Assistance Systems (ADAS), and Software Defined Everything (SDe). Its strategic investments in driverless car technologies have enabled the development and launch of an integrated ADAS stack along with cutting edge solutions in AI and SDVs, helping clients accelerate time-to-market and stay competitive. LTTS’ state-of-the-art EV lab in Bangalore, India serves as a hub for the development and testing of advanced electric vehicle technologies. Recently, the Company launched LTTSiDrive for global clients in Mobility, a framework for SDV implementation across Auto, Trucks, and Off-Highway vehicles, further underscoring LTTS’ innovation-driven approach.
Over the years, LTTS has built a strong reputation for delivering innovative solutions in autonomous driving, connected vehicles, e-mobility, and digital twin technologies. This new strategic engagement reaffirms LTTS’ position as a trusted engineering partner for leading automotive enterprises across the globe.
L&T Technology Services is a leading global pure-play engineering research and development (ER&D) services company.
