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IT stock jumps after winning ₹462 Cr transformational deal in mobility segment in Europe

Prominent IT services provider wins a ₹462 crore deal with a European automotive OEM to develop next-gen software platforms and establish a new mobility development center.
IT stock soars after securing ₹462 Cr transformational mobility deal in Europe, boosting growth.
IT stock soars after securing ₹462 Cr transformational mobility deal in Europe, boosting growth.

Introduction:

Leading IT services provider has secured a ₹462 crore transformational deal with a prominent European automotive OEM. The agreement focuses on developing next-generation software platforms and establishing a new development center in the mobility sector.

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Also Read: Anil Agarwal stock jumps 4% after announcing demerger of its global services business

Share price movement of L&T Technology Services:

On April 1, 2025, L&T Technology Services Ltd opened at ₹4,512.30, up 0.25% from its previous close of ₹4,500.90. The stock reached a high of ₹4,576.80 (1.68%) and a low of ₹4,478.20. By 10:55 AM, it traded at ₹4,536.30, a 0.79% increase, with a market cap of ₹48,030.21 crore.

LTTS Secures ₹462 Crore Mobility Deal:

L&T Technology Services (LTTS) has secured a ₹462 Crore transformational deal with a leading European automotive OEM. This deal strengthens LTTS’ position in the global automotive mobility sector, focusing on next-gen software platforms for vehicle models.

The agreement includes establishing a new development center, aligned with the client’s global right-shoring strategy. LTTS will utilize its expertise in Software Defined Vehicle (SDV) and Advanced Driver Assistance Systems (ADAS) to drive innovation in automotive technologies.

Recent news on L&T Technology Services:

As of January 15, 2025, L&T Technology Services (LTTS) reported a net profit of ₹322.4 crore for Q3FY25, down 4.1% YoY. Revenue grew 9.5% YoY, reaching ₹2,653 crore, with a 3% sequential increase.

Stock performance of L&T Technology Services for Period of 1 week, 6 months, and 1 year:

L&T Technology Services Ltd delivered a -2.67% return over the past week, declining by 11.7% in the past six months. The stock dropped 19.6% over the past year.

Also Read: Pharma stock jumps after securing approval for export of anti-allergy API in China

Shareholding pattern of L&T Technology Services:

ParticularsDec 2024Sep 2024Jun 2024
Promoter73.70%73.70%73.70%
FII4.20%4.40%4.50%
DII14.30%14.00%13.30%
Public7.90%8.00%8.50%
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About L&T Technology Services:

L&T Technology Services Ltd (NSE: LTTS), established in 2012, provides engineering, R&D, and digitalization solutions across industries like transportation, telecom, medical devices, and more, serving 69 Fortune 500 companies and 296 clients globally.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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