Shares of L&T Technology Services Ltd (LTTS) were trading in the green and 1% higher on 1 October after the company announced signing a $100 million multi-year agreement with a US-based industrial equipment manufacturer in the semiconductor value chain, a significant milestone for the company’s Sustainability division.

As part of the strategic relationship, LTTS will assist the customer with new product development, sustainment engineering, value engineering, and platform automation. The agreement also includes the creation of a specialised Centre of Excellence to drive innovation, simplify platforms, speed application engineering, and facilitate a transition to digital and AI-powered operations.

Amit Chadha, CEO & Managing Director, L&T Technology Services, said, “This engagement underscores LTTS’ expertise in leveraging AI-driven innovation to address complex engineering challenges in high-growth industries. By harnessing our capabilities in AI, automation, and product engineering, we are empowering our client to further expand their market share and stay ahead of the curve.”

LTTS, a Larsen & Toubro company, supports 69 Fortune 500 corporations and 57 leading ER&D organisations in a variety of industries, including industrial products, medical devices, transportation, telecom, and process. The corporation employs more than 23,600 people worldwide.

At 11:52 am, the shares of L&T Technology were trading 0.63% higher at Rs 4,140 on NSE.

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