L&T Technology rises 2%, forms partnership with Microsoft Corp

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Moneycontrol BureauShares of L&T Technology Services gained 2 percent intraday post its announced partnership with Microsoft Corp.The company has announced digital engineering transformation partnership with Microsoft Corporation to deliver Microsoft Azure Engineering Solutionsfor global enterprises across industries. This strategic partnership between the two companies enables enterprises around the world to leverage L&T Technology’s cutting-edge IP-led Digital Engineering solutions hosted on Microsoft’s Azure enterprise cloud-first, mobile - first infrastructure. Amit Chadha, Executive Director of L&T Technology Services said, "In L&T Technology Services, engineering innovation is in our DNA and this partnership with Microsoft delivers Digital Engineering Transformation to all our customers together."On September 23, 2016 the company had made a debut on browser at Rs 920 per share, up 7 percent over its issue price of Rs 860.The Rs 894-crore issue, which opened for subscription during September 12-15, was oversubscribed 2.52 times.At 12:30 hrs L&T Technology Services was quoting at Rs 839.15, up Rs 13.30, or 1.61 percent on the BSE.Posted by Rakesh Patil