Cyient gains on incorporating WOS in Australia

13 Oct 2014

Cyient is currently trading at Rs. 451.70, up by 5.60 points or 1.26 % from its previous closing of Rs. 446.10 on the BSE.

The scrip opened at Rs. 450.00 and has touched a high and low of Rs. 453.60 and Rs. 448.90 respectively. So far 308 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 483.00 on 19-Sep-2014 and a 52 week low of Rs. 215.00 on 11-Oct-2013.

Last one week high and low of the scrip stood at Rs. 478.90 and Rs. 427.25 respectively. The current market cap of the company is Rs. 5065.74 crore.

The promoters holding in the company stood at 22.27 % while Institutions and Non-Institutions held 47.83 % and 29.91 % respectively.

Cyient has set up a wholly owned subsidiary (WOS) at Australia incorporated as ‘Cyient Australia’. This year in August, the company had signed a definitive agreement to acquire a majority stake in Invati Insights, a start-up data sciences company. The new entity was proposed to be renamed Cyient Insights to better reflect brand and market aspirations.

Cyient, formerly known as ‘Infotech Enterprise’ is a global IT services company with over 7000 people specializing in engineering Services, Geographic Information Systems (GIS) and IT services. It provides services to a wide range of industries -- aerospace, automotive, energy, government, hi-tech consumer and medical devices, marine, rail, retail, telecom and utilities.  

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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