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Cyient gains on the buzz to acquire two firms

13 Jan 2017

Cyient is currently trading at Rs. 501.05, up by 2.20 points or 0.44% from its previous closing of Rs. 498.85 on the BSE.

The scrip opened at Rs. 499.00 and has touched a high and low of Rs. 506.60 and Rs. 494.30 respectively. So far 32,127 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 555.00 on 13-Oct-2016 and a 52 week low of Rs. 370.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 544.00 and Rs. 483.00 respectively. The current market cap of the company is Rs. 5,623.81 crore.

The promoters holding in the company stood at 22.18%, while Institutions and Non-Institutions held 64.64% and 13.17% respectively.

Cyient is reportedly all set to buy two firms with a size of $10-25 million each. The deal is likely to be sealed in Q1FY18. However, the company has not disclosed the area of expertise of the target companies.

On the consolidated basis, the company reported 13.80% rise in its net profit after taxes, minority interest and share of profit of associates at Rs 94.16 crore for the quarter ended December 31, 2016 as compared to Rs 82.74 crore for the same quarter in the previous year.

Cyient, formerly Infotech Enterprises is a company focussed on engineering, networks and operations. The company features among the top 30 outsourcing companies in the world.

Related Cyient Ltd. Links:

Cyient Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323