You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

LTTS gains on being selected as engineering partner by Mavenir & NVIDIA

Capital Market 

L&T Technology Services (LTTS) rose 1.60% to Rs 5,455 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.

L&T Technology Services (LTTS) 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. 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.

L&T Technology Services (LTTS) reported 6.4% rise in consolidated net profit to Rs 230 crore on a 5.9% increase in revenue to Rs 1,607.70 crore in Q2 FY22 over Q1 FY22.

L&T Technology Services, a listed subsidiary of Larsen & Toubro (L&T), is an engineering services provider, focused on offering innovative design and development solutions across the product development value chain, for industries such as industrial products, transportation, aerospace, telecommunications (telecom) and the process industry. As on 30 September 2021, L&T held 74.15% shares of LTTS.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, November 17 2021. 10:22 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU