L&T Technology gains on multi-million dollar contract from ExxonMobil

The stock was up 4% to Rs 1,270 on the BSE after the company announced that it has signed an agreement with ExxonMobil Exploration Company, valued at more than $20 million in the first year.

L&T Technology Services (LTTS) was up 4% to Rs 1,270 on the BSE in early morning trade after the company announced that it has signed an agreement with ExxonMobil Exploration Company, valued at more than $20 million (Rs 1,297 million) in the first year.

LTTS’ geospatial and digital expertise will enable rapid conversion of historical Geoscience content into the digital domain by leveraging sophisticated automation utilities. This will provide geoscientists with improved data availability, enhancing the speed and efficiency of analysis and evaluation. LTTS will work in collaboration with group company Larsen & Toubro Infotech (LTI) on this engagement,