L&T Tech shares jump 4% as IT firm signs five-year Nokia contract
L&T Tech said the engagement would bring together its engineering capabilities and Nokia's telecommunications technology work, with the two companies working through an integrated operating model alongside Nokia's global R&D teams.
- Oct 26, 2026,
- Updated Oct 26, 2026 11:46 AM IST
L&T Technology Services Ltd shares rose 4% in Monday's trade after the engineering and R&D (ER&D) services company announced a five-year contract with Nokia to support its engineering and research and development (R&D) activities in India. Under the agreement, L&T Technology Services will support Nokia's R&D programmes in areas including product engineering, software development, system integration and product support.
Following the development, L&T Technology Services Ltd shares rose 3.57% to a session high of Rs 4,050 apiece, compared with the previous close of Rs 3,910.60. The stock opened at Rs 3,862.65 and touched a low of Rs 3,862.65 during the session.
L&T Tech said the collaboration will also cover new product development, embedded systems and ongoing engineering support, according to the company's press release dated October 26.
As part of the agreement, L&T Technology Services will establish a dedicated Offshore Development Center (ODC) in India to support Nokia's engineering and R&D initiatives. The centre will focus on next-generation compute and AI infrastructure engineering for future telecom solutions.
The company will also create a dedicated engineering team in India to support Nokia's Technology Center globally. The work will span 5G networks, intelligent automation, AI-driven operations and AI infrastructure.
Vivek Jaiswal, Senior Vice President of Engineering at Nokia, said, "India is an important innovation hub for Nokia, and LTTS is a critical partner that will bring engineering expertise and mechanisms that will help us expand our R&D footprint and accelerate innovation in this strategically important geography."
Alind Saxena, Executive Director and President, Strategic Initiatives and Growth Markets at L&T Technology Services, said the collaboration aligns with the company's Lakshya 31 strategy, particularly its focus on next-generation compute and AI infrastructure.
The company said the engagement would bring together its engineering capabilities and Nokia's telecommunications technology work, with the two companies working through an integrated operating model alongside Nokia's global R&D teams.
L&T Technology Services Ltd shares rose 4% in Monday's trade after the engineering and R&D (ER&D) services company announced a five-year contract with Nokia to support its engineering and research and development (R&D) activities in India. Under the agreement, L&T Technology Services will support Nokia's R&D programmes in areas including product engineering, software development, system integration and product support.
Following the development, L&T Technology Services Ltd shares rose 3.57% to a session high of Rs 4,050 apiece, compared with the previous close of Rs 3,910.60. The stock opened at Rs 3,862.65 and touched a low of Rs 3,862.65 during the session.
L&T Tech said the collaboration will also cover new product development, embedded systems and ongoing engineering support, according to the company's press release dated October 26.
As part of the agreement, L&T Technology Services will establish a dedicated Offshore Development Center (ODC) in India to support Nokia's engineering and R&D initiatives. The centre will focus on next-generation compute and AI infrastructure engineering for future telecom solutions.
The company will also create a dedicated engineering team in India to support Nokia's Technology Center globally. The work will span 5G networks, intelligent automation, AI-driven operations and AI infrastructure.
Vivek Jaiswal, Senior Vice President of Engineering at Nokia, said, "India is an important innovation hub for Nokia, and LTTS is a critical partner that will bring engineering expertise and mechanisms that will help us expand our R&D footprint and accelerate innovation in this strategically important geography."
Alind Saxena, Executive Director and President, Strategic Initiatives and Growth Markets at L&T Technology Services, said the collaboration aligns with the company's Lakshya 31 strategy, particularly its focus on next-generation compute and AI infrastructure.
The company said the engagement would bring together its engineering capabilities and Nokia's telecommunications technology work, with the two companies working through an integrated operating model alongside Nokia's global R&D teams.