L&T Technology Services, Nokia sign deal to support engineering in India
Larsen & Toubro made an announcement in an infrastructure development.
· BS Companies
L&T Technology Services on Monday announced a five-year contract with Nokia to support engineering and research and development activities in India. The contract brings together LTTS' engineering capabilities with Nokia's telecommunications technology work, according to a release. The release did not divulge the size or financial details of the contract.
The analysis
Against that, the stock is +0.5% on the day at ₹3,665.20, and has returned -4.7% over three months. It sits 17% below its 52-week high. The infrastructure sector has moved -16.2% over the same period, so Larsen & Toubro is running 11.5 points ahead of its peers.
For Larsen & Toubro, the question is how much of this is already reflected in the price and how much re-rates the infrastructure peer set alongside it.
Why it matters
- Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
Market context
- The company directly in focus is LT.
- Sector exposure: Infrastructure, IT, Financial Services.
In this story
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