High ROE and high ROCE multibagger stock: This IT company joins forces with Palo Alto Networks as MSSP Partner!
The stock is up by 30 per cent in just 1 year and over 200 per cent in 3 years.
L&T Technology Services Limited (BSE: 540115, NSE: LTTS), a leading global pure-play engineering services company, announced it has partnered with Palo Alto Networks, the global cybersecurity leader, to provide enterprises in diverse verticals with security services and solutions in 5G and Operations Technology (OT) areas. Under the agreement, LTTS will become a Palo Alto Networks Managed Security Services Partner (MSSP), delivering a suite of security services to end customers in industrial verticals.
LTTS’ security solutions encompass 5G, OT and IT/OT Converged SOC services. By joining forces with Palo Alto Networks, LTTS will enable end customers to address security risks in their OT environments, providing best-in-class security. The new MSSP agreement will provide a managed service offering for Palo Alto Networks Zero Trust OT Security solution, allowing customers to outsource the day-to-day management of their OT security to LTTS. Palo Alto Networks Zero Trust OT Security is built to provide comprehensive visibility and security powered by AI/ML for OT assets and networks, 5G connected assets, and remote operations.
LTTS and Palo Alto Networks have joined forces to offer advanced security solutions for 5G networks. Their partnership focuses on utilizing AI and ML technologies to combat cyber threats in the operational technology (OT) environment. This collaboration aims to provide customers with scalable and real-time security measures, enhancing their control and visibility over network slices, private networks, and multi-access edge computing.
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On Friday, shares of LTTS surged 2.20 per cent to Rs 3,930 per share with an intraday high of Rs 3,943.40 and an intraday low of Rs 3,860.05 per share. The shares of the company have a ROE of 26 per cent and a ROCE of 32.80 per cent.
The company reported amazing numbers in its Quarterly Results and annual results and has been maintaining a healthy dividend payout of 38 per cent. The stock is up by 30 per cent in just 1 year and over 200 per cent in 3 years. Investors should keep an eye on this IT stock.