L&T Technology Services Ltd. shares climbed more than 3% on Monday after the company announced a five-year contract with Nokia to support its engineering and research and development activities in India.
The stock was trading at Rs 4,037.7, up around 3.3%, as of 10:17 a.m. on Oct. 26, on the National Stock Exchange.
The company said the agreement would cover product engineering, software development, system integration, and product support; however, financial details of the contract were not disclosed.
L&T Technology Services To Set Up Nokia R&D Centre In India
Under the agreement, L&T Technology Services will establish a dedicated Offshore Development Center in India to support Nokia's engineering and R&D initiatives.
The centre will focus on next-generation computing and artificial intelligence infrastructure for telecommunications solutions. L&T Technology Services will also create a dedicated engineering team in India to support Nokia's global Technology Center.
The engagement will cover areas such as 5G networks, intelligent automation, AI-driven operations, embedded systems, new product development, and ongoing engineering support. The two companies will work through an integrated operating model involving Nokia's global R&D teams.
Collaboration Aligns With Lakshya 31 Strategy
Alind Saxena, executive director and president of strategic initiatives and growth markets at L&T Technology Services, said the deal aligns with LTT's Lakshya 3 Big Bet.
“This strategic engagement represents a significant milestone for LTTS and our Technology Segment. It reflects the trust that leading technology innovators place in our Engineering Intelligence approach and deep-tech engineering expertise. This collaboration also aligns strongly with LTTS' Lakshya 31 Big Bet around Next Gen Compute and AI infrastructure, an area that will be fundamental to the evolution of future communication networks and intelligent datacenters.”
Vivek Jaiswal, senior vice president of engineering at Nokia, said India is an important innovation hub for the company. The collaboration will help Nokia expand its R&D presence and accelerate innovation in the country.
The deal strengthens L&T Technology Services' engagement with Nokia across engineering and technology development, with a focus on supporting future telecommunications networks and AI infrastructure.
L&T Technology Services Share Price Performance
The stock has rallied close to 26% in the past month, even when the broader market remained volatile.
In the past week itself, the stock gained around 11.8%; however, it remained down around 8% in 2026 so far.
Currently, trading at a price-to-earnings multiple of 26.9 times, with a market cap of Rs 42,812.2 crore.
Also Read: L&T Tech Q2 Results: Net Profit Surges 53% To Rs 548 Crore, Revenue Up 3% Sequentially
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