Tag: ltts

Shares of L&T Technologies Services (LTTS) dipped 5.5 percent to Rs 3,441 on the BSE in Friday’s intra-day trade after the company informed the stock exchanges that it agreed to acquire the Smart World & Communications business (SWC) of its parent company Larsen & Toubro (L&T) which was founded in 2016 to cater to the demands in smart cities, smart utilities, and digital infrastructure. by way of a slump sale for a consideration of Rs 800 crore. The acquisition will be completed in three months, subject to satisfaction of conditions precedent identified under the agreement. According to LTTS, SWC business generated Rs 1,098 crore in annual revenue for FY 2021-22. SWC is an intelligence solution provider operating in three segments – communications, safe and smart solutions, and cybersecurity. With the acquisition, LTTS plans to combine synergies and take offerings in next-gen communications, sustainable spaces, and cybersecurity to the global market. Read more

L&T Technology Services Limited announced that it has been selected as an engineering partner by Mavenir and NVIDIA, to accelerate the adoption of the industry’s first converged AI-on-5G. Shares of the engineering services company L&T Technology Services Ltd surged almost 6% to Rs 5,682 a piece on Wednesday, touching its 52-week high value. The company will support Mavenir with customization, integration, and deployment of AI applications for deployment on NVIDIA’s AI-on-5G Platform. AI is already transforming many industries across the globe. When combined with the power of 5G networks, the two technologies will enable powerful new use cases in a quick, secure, and cost-effective manner.NVIDIA’s AI-on-5G platform is a unified platform that brings together developments at the edge to accelerate the digital transformation of enterprises across all industries. Read more

Shares of L&T Technology Services (LTTS) hit a new high of Rs 4,412.80, surging 9 percent on the BSE in the intra-day trade today(3rd Sept. 2021), after the management guided for $1.5 billion revenue and 18 percent earnings before interest tax (Ebit) margins by FY25 on the strong demand outlook. In the past three months, the stock has rallied 62 percent, as compared to an 11 percent rise in the S&P BSE Sensex. The revenue guidance includes acquisitions while Ebit margin guidance takes into consideration elevated travel costs, continued investment in tech and manpower, and acquisitions. The management has indicated that digitization is driving accelerated spends in engineering, research, and development (ER&D) and should benefit it due to strong capabilities, multi-vertical presence, and solid wallet share. LTTS is expected to deliver strong revenue growth over the coming years.

Shares of L&T Technology Services (LTTS) zoomed 19 percent to a record high of Rs 3,471.95 on the BSE in intra-day trade on Thursday after the company reported better-than-expected June quarter (Q1FY22) results. The company's net profit surged 84 percent year-on-year in the June quarter as its profit came in at ₹ 117.3 crores in the corresponding period of the previous fiscal year. The technology services company's revenue from operations during the quarter stood at ₹ 1,518 crores, compared to ₹ 1,294.7 crores in the year-ago period, marking a growth of 17 percent annually, according to a regulatory filing by the firm to the stock exchanges. The company said that it could expand the margins because of levers like higher digitalization, he said adding that the quantum of work done offshore has also increased to 58 percent of the billing as against 50 percent before the pandemic. Read more