L&T Technology Services soars on inking MoU with Ansys to set up CoE for Digital Twin

L&T Technology Services is currently trading at Rs. 3393.60, up by 30.05 points or 0.89% from its previous closing of Rs. 3363.55 on the BSE.

The scrip opened at Rs. 3370.05 and has touched a high and low of Rs. 3401.30 and Rs. 3363.15 respectively. So far 7482 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 5294.70 on 05-Apr-2022 and a 52 week low of Rs. 2923.35 on 04-Jul-2022.

Last one week high and low of the scrip stood at Rs. 3418.90 and Rs. 3281.05 respectively. The current market cap of the company is Rs. 35775.81 crore.

The promoters holding in the company stood at 73.85%, while Institutions and Non-Institutions held 14.91% and 11.24% respectively.

L&T Technology Services (LTTS) and Ansys have signed an MoU to establish the LTTS-Ansys Center of Excellence (CoE) for Digital Twin. The center will support LTTS in demonstrating industry use cases, develop future facing solutions, and enable its customers to optimize design, manufacturing, and supply chain processes. Ansys’ Twin Builder solution will allow LTTS to further expand its market share in digital twin areas.

The joint efforts of Ansys and L&T Technology Services will create opportunities for innovation and growth in the digital twin industry, providing a new level of insight and control to manufacturers. With the digital twin market projected to experience exponential growth in the coming years, this collaboration positions both companies at the forefront of the trend.

The collaboration demonstrates the commitment of both organizations in providing the most advanced and effective digital twin solutions to customers in manufacturing and industrial sectors. The establishment of the CoE marks the beginning of a long-term partnership aimed at shaping the future of the digital twin industry.

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