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

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

Shares of Larsen & Toubro (L&T) Infotech, L&T Technology Services and KPIT Technologies hit their respective record highs, rising up to 8 per cent on the BSE in intra-day trade on Wednesday in an otherwise limited market. In comparison, the S&P BSE Sensex was up 0.03 per cent at 60,342 at 11:10 am.

Apart from these three stocks, Information Technology (IT) sector Birlasoft, eClerks Services and Tanla Platforms hit their respective record highs today.

Among individual shares, L&T Technology Services (LTTS), a leading global pure-play engineering services company, rose 7 per cent to Rs 5,742 after the company announced that it had been selected by Mavenir and NVIDIA as an engineering partner, so that To accelerate its adoption. Industry’s first converged AI-on-5G.

LTTS will support Mavenir with the optimization, 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 growth to accelerate the digital transformation of enterprises across all industries. 5G provides built-in connectivity for billions of devices, expanding the reach of AI to all connected objects and enabling new use cases and new markets. AI-on-5G is supported by a range of GPU-optimized applications and a large ecosystem of partners offering NVIDIA SDKs, toolkits and APIs, LTTS said in a press release.

According to Motilal Oswal Financial Services, digitization is driving accelerated spending in ER&D, and LTTS should take advantage of this due to its strong capabilities, multi-vertical presence and solid wallet share. The brokerage firm expects LTTS to deliver strong revenue growth in the coming years, and maintain it as the top-ranked leader in the midcap IT services space.

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

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

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