L&T Technology Services is one of the better-placed company with significant exposure to this market providing better growth prospects for the company.
L&T Technology Services (LTTS) is one of the three listed subsidiaries of Larsen & Toubro (L&T). The company provides design and development solutions to clients across the entire value chain of product development. These include solutions in the areas of mechanical and manufacturing engineering, embedded systems, software engineering, and process engineering.
With the rise of enabling technologies like 5G, IoT, Artificial Intelligence etc, the digital disruption now has expanded to almost each and every part of the global industrial complex including manufacturing and process industries. This has opened a new and bigger opportunity of more than USD 1.1 trillion markets for engineering outsourcing market.
We believe LTTS is one of the better-placed company with significant exposure to this market providing better growth prospects for the company. We initiate our coverage on L&T Technology with a buy rating and a target of Rs 1,940 per share.
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