L&T Infotech, L&T Technology, KPIT Technologies hit record highs

LTTS has gained 7 per cent after the company was selected as an engineering partner by Mavenir and NVIDIA, to accelerate adoption of the industry's first converged AI-on-5G

Shares of Larsen & Toubro (L&T) Infotech, L&T Technology Services and KPIT Technologies hit their respective record highs, surging up to 8 per cent on the BSE in Wednesday’s intra-day trade in an otherwise range-bound market. In comparison, the S&P BSE Sensex was up 0.03 per cent at 60,342 at 11:10 AM.

Besides these three stocks, Birlasoft, eClerx Services and Tanla Platforms from the information technology (IT) sector have hit their respective record highs today.

Among the individual stocks, L&T Technology Services (LTTS), a leading global pure-play engineering services company, gained 7 per cent to Rs 5,742 after the company announced that it was selected as an engineering partner by Mavenir and NVIDIA, to accelerate adoption of the industry’s first converged AI-on-5G.

LTTS will support Mavenir with customization, integration and deployment of AI applications for deployment on NVIDIA’s AI-on-5G Platform.

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. 5G provides the underlying connectivity for billions of devices, extending AI’s reach to all connected objects and enabling new use cases and new markets. AI-on-5G is supported by a large ecosystem of partners offering a range of GPU-optimized applications and by NVIDIA SDKs, toolkits, and APIs, LTTS said in a press release.

Digitization is driving accelerated spends in ER&D, and LTTS should benefit from this owing to its strong capabilities, multi-vertical presence, and solid wallet share, according to Motilal Oswal Financial Services. The brokerage firm expects LTTS to deliver strong revenue growth over the coming years, and retain it as top pick in the Midcap IT Services space.

Shares of KPIT Technologies hits a new high of Rs 472.50, rallied 8 per cent today and have surged 53 per cent thus far in the month of November on strong outlook. The IT consulting & software company raised outlook for revenue and profit for the financial year 2021-22 (FY22). The company said, for FY22, revenue growth outlook has been increased to 18 to 20 per cent, while earnings before interest, tax, depreciation and amortization (Ebitda) margin outlook has been revised to 17.5+ per cent.

The management while announcing September quarter (Q2FY22) results on November 1, 2021 had said the company is witnessing a robust demand environment resulting in strong order inflow and pipeline. With improved business visibility, the company has increased its revenue and profit outlook for the year.

COMPANY	LATEST	ALL TIME HIGH	PREV HIGH	PREV DATE
Birlasoft Ltd	456.80	458.30	457.90	24-Sep-21
EClerx Services	2547.10	2619.00	2510.00	16-Nov-21
KPIT Technologi.	480.75	481.65	459.25	16-Nov-21
L & T Infotech	7492.30	7521.50	7322.00	16-Nov-21
L&T Technology	5689.95	5741.60	5469.20	19-Oct-21
Tanla Platforms	1393.20	1393.20	1340.25	15-Nov-21