L&T Technology Services shares jumps on partnering with Palo Alto Networks

On Friday, the shares of L&T Technology Services closed at Rs 3930, up by 2.20% from its previous closing of Rs 3845.55 on the BSE. 

L&T Technology Services (LTTS) has partnered with Palo Alto Networks, the global cybersecurity leader, to provide enterprises in diverse verticals with security services and solutions in 5G and Operations Technology (OT) areas. Under the agreement, LTTS will become a Palo Alto Networks Managed Security Services Partner (MSSP), delivering a suite of security services to end customers in industrial verticals. LTTS’ security solutions encompass 5G, OT and IT/OT Converged SOC services. By joining forces with Palo Alto Networks, LTTS will enable end customers to address security risks in their OT environments, providing best-in-class security.  

The new MSSP agreement will provide a managed service offering for Palo Alto Networks Zero Trust OT Security solution, allowing customers to outsource the day-to-day management of their OT security to LTTS. Palo Alto Networks Zero Trust OT Security is built to provide comprehensive visibility and security powered by AI/ML for OT assets and networks, 5 G-connected assets, and remote operations. The partnership between LTTS and Palo Alto Networks also aims to provide comprehensive 5G-Native Security solutions that utilize AI and ML technologies to combat advanced cyber threats in the operational technology (OT) environment. This collaboration offers scalable and real-time security measures for 5G networks, providing customers enhanced visibility and control over their network slices, private networks, and multi-access edge computing. 

Incorporated in 2012, L&T Technology Services is a listed subsidiary of Larsen & Toubro focused on Engineering and R&D (ER&D) services, and digitalization solutions to companies in the areas such as Transportation, Industrial Products, Telecom and Hi-Tech, Medical Devices and Plant Engineering. 

Today, the stock opened at Rs 3888.00 and touched a high and low of Rs 3943.40 and Rs 3860.05 respectively.  

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 4316.75 and Rs 2923.35, respectively. 

Last one week high and low of the scrip stood at Rs 3985 and Rs 3756.80 respectively. The current market cap of the company is Rs 41,527.44 crore. 

The promoters holding in the company stood at 73.85%, while Institutions and Non-Institutions held 15.09% and 11.06% respectively.