Cyient moves up on concluding acquisition of 74% equity in Rangsons Electronics

06 Feb 2015

Cyient is currently trading at Rs. 531.75, up by 0.55 points or 0.10% from its previous closing of Rs. 531.20 on the BSE.

The scrip opened at Rs. 530.10 and has touched a high and low of Rs. 534.40 and Rs. 525.00 respectively. So far 2458 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 592.80 on 15-Jan-2015 and a 52 week low of Rs. 265.00 on 27-May-2014.

Last one week high and low of the scrip stood at Rs. 542.80 and Rs. 526.40 respectively. The current market cap of the company is Rs. 5929.31 crore.

The promoters holding in the company stood at 22.23% while Institutions and Non-Institutions held 49.21% and 28.56% respectively.

Cyient has completed the acquisition of 74% equity in Rangsons Electronics, a leading electronics system design and manufacturing services company, headquartered in Mysore, India, in an all-cash transaction, on February 04, 2015. The company had earlier on January 02, 2015 inked a definitive agreement for the same.

Cyient, formerly Infotech Enterprises is a company focussed on engineering, networks and operations. It has more than 12,000 employees across 38 global locations as of March 2014. The company features among the top 30 outsourcing companies in the world.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323