Cyient gains with arm concluding acquisition of 100% equity in Certon Software

09 Feb 2017

Cyient is currently trading at Rs 468.60, up by 6.05 points or 1.31% from its previous closing of Rs. 462.55 on the BSE.

The scrip opened at Rs. 466.20 and has touched a high and low of Rs 468.65 and Rs 463.00 respectively. So far 678 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 497.90 and Rs 443.80 respectively. The current market cap of the company is Rs. 5274.86 crore.

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

Cyient’s wholly owned subsidiary Cyient Inc., USA has concluded the acquisition of 100% stake in Certon Software Inc., Melbourne, Florida, USA, effective from February 08, 2017. Earlier in January, the company had signed a definitive agreement to acquire 100% equity in Certon Software Inc., in an all cash transaction.

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

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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