L&T Tech zooms on 'Airbus'
L&T Technology Services (LTTS) had closed on Friday at Rs.1487.65 and today, it opened at Rs.1514, which is also the day’s highest point currently. It has come off the high but remains in the green at Rs.1508 levels. Its 52-week high is at Rs.1817.75.
The company announced today morning that it has been selected by Airbus India to manage their Avionics Software Development, V&V (Validation & Verification) and Data Analytics.
No financial details of this order was divulged.
The company state that its distinct advantage in the aerospace landscape includes ITAR (International Traffic in Arms) Compliance & CEMILAC (The Centre for Military Airworthiness & Certification) Certified State-of-art facilities, strong global customer base, robust lab & testing infrastructure and strategic alliances with Fortune 500 companies is what helped it bag this prestigious order.
LTTS is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. Its customer base includes 69 Fortune 500 companies and 51 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, it has over 16,700 employees spread across 17 global design centers, 28 global sales offices and 49 innovation labs as at September 30, 2019.