LIC-backed L&T Group Company Partners with PS Technology to Transform Railways with Advanced Simulation Mobility Technologies!
LIC has increased its shareholding in Q1 FY25 in the company.
L&T Technologies, a global leader in digital engineering and R&D services, has announced a strategic partnership with PS Technology (PST), a wholly owned subsidiary of Union Pacific Railroad, to advance rail simulation technology in India and surrounding regions.
Incorporated in 2012, LTTS provides engineering, research and development (ER&D), and digitalization solutions across diverse sectors including transportation, industrial products, telecom, medical devices, and plant engineering. The company, which went public on September 23, 2016, serves 69 Fortune 500 companies and 53 of the world’s top ER&D firms, with a client base of 296 companies in 25 countries.
The newly formed alliance between LTTS and PST is focused on enhancing the Indian rail sector by designing, developing, and deploying advanced AI-based simulation technologies. This collaboration aims to significantly improve operational efficiency and safety in rail infrastructure. A Memorandum of Understanding (MoU) has been signed, marking the establishment of the first Customer Experience and R&D Center (CXC) in Faridabad, near New Delhi.
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The CXC will be pivotal in developing cutting-edge simulation technologies, utilizing AI and augmented reality to set new standards in rail transportation. The center will provide innovative solutions for real-time data collection, proactive decision-making, and resource management, enhancing safety and efficiency in rail operations.
L&T Technologies will leverage its extensive domain expertise in rail engineering to localize and adapt PST’s technology for the Indian market. This partnership aims to revolutionize rail simulation, immersive learning, and crew management, ultimately setting new benchmarks in operational excellence and safety for Indian Railways.
This collaboration underscores LTTS’s commitment to driving technological advancements and optimizing transportation solutions through strategic global partnerships.
Currently while writing the article the shares of L&T Technologies are trading at around Rs 5184.10 per share on the BSE. The current market capitalization of the company stands at Rs 54862.97 crore. Additionally, the shares have delivered a return of around 30 per cent in the past 1 year.
According to the latest update on the shareholding pattern, promoters hold 73.69 per cent of the company's shares, while public investors own 8.77 per cent. Foreign Institutional Investors (FIIs) hold 4.46 per cent, and Domestic Institutional Investors (DIIs) own 13.07 per cent. Recently, DIIs have increased their stake, whereas FIIs have slightly reduced theirs.
Disclaimer: The article is for informational purposes only and not investment advice.