L&T Technology Services collaborates with NVIDIA; stock rises

L&T Technology Services shares rose in the morning deals on November 20, extending their rally for the fourth straight session. The stock rose over 2 per cent to touch the day's high at Rs 4556.35 apiece after it announced a collaboration with NVIDIA.

At around 10:24 a.m., shares of L&T Technologies Services traded 1.28 per cent or Rs 57.05 higher on the BSE at Rs 4510.8 apiece. The market capitalisation of the company stood at Rs 47,690.88 crore.

The Vadodara-based information technology (IT) company, through a regulatory filing, said it has collaborated with NVIDIA to develop software-defined architectures focused on endoscopy.

"L&T Technology Services Limited, a leading global pure-play engineering services company, has announced a collaboration with NVIDIA to develop software-defined architectures for medical devices focused on endoscopy, which will enhance the image quality and scalability of products," the company said in its filing.

The medical device will have AI/ML models for the detection, identification, and classification of polyps and will boast an image processing pipeline for noise reduction, edge and contrast enhancement, texture and colour enhancement, and speckle correction.

The device will have a user-friendly interface and seamless integration of the image processing pipeline for visualisation.

The collaboration leverages the NVIDIA Holoscan and NVIDIA IGX Orin platforms and helps ensure enhanced visualisation for image processing and AI-based decision-making support, such as for polyp detection and classification.

L&T Technology Services share price: Past performance

In 2023 so far, shares of L&T Technology Services have gained over 21 per cent as against the Nifty50's rise of over 8 per cent. 

stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.