L&T Technology Services (LTTS) has announced a strategic partnership with the Indian Institute of Technology (IIT) Hyderabad to advance research and implementation of technologies aimed at improving road safety and driving efficiency. Following this announcement, LTTS shares experienced a 2% gain during the morning trade session on Tuesday, June 11.
The collaboration focuses on fostering industry and academic advancement in Advanced Driver Assistance Systems (ADAS) and Cellular Vehicle-to-Everything (CV2X) communication. According to an LTTS filing with the stock exchange, the partnership will facilitate the research and application of ADAS and CV2X technologies to enhance road safety, efficiency, and the overall driving experience.
LTTS aims to explore and develop cutting-edge features within ADAS, such as collision avoidance, lane departure warning, pedestrian detection, and adaptive cruise control. The company will integrate AI-driven algorithms and sensor technologies to improve real-time hazard recognition and response capabilities. Additionally, the partnership will involve the research and development of communication frameworks for CV2X communication.
Last month, LTTS launched the Simulation Centre of Excellence (CoE) for Airbus at its Bengaluru campus. The CoE is designed to enhance engineering support for Airbus aircraft structural simulation activities globally, equipped with the latest simulation software, hardware, and high-performance computational machinery.
In a related update, LTTS has set June 14, 2024, as the “Record Date” to determine shareholders eligible to receive the final dividend for FY 2023-24. The company’s board has recommended a final dividend of ₹33 per share, with a payout percentage of 1650% on the face value of ₹2 per share, as communicated in an exchange filing.
As of 11:22 am, shares of L&T Technology Services Ltd were trading at ₹4861 per share, reflecting a 1.29% increase.
This partnership between LTTS and IIT Hyderabad underscores the company’s commitment to leveraging advanced technologies to create safer and more efficient driving experiences.
