Cyient rises with arm inking agreement with Italian firm ASE

16 Feb 2017

Cyient is currently trading at Rs. 472.00, up by 5.95 points or 1.28% from its previous closing of Rs. 466.05 on the BSE.

The scrip opened at Rs. 470.00 and has touched a high and low of Rs. 475.25 and Rs. 467.00 respectively.

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. 393.20 on 17-Feb-2016.

Last one week high and low of the scrip stood at Rs. 477.30 and Rs. 458.00 respectively. The current market cap of the company is Rs. 5,313.00 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., has signed a joint go-to-market agreement with ASE S.p.A., a privately-owned Italian company, and a leading supplier of electrical power generation and distribution systems to the international aerospace and defense industry, for joint market development of products in the electric power generation arena.

This collaboration will provide full life-cycle services, products, and systems to the aerospace and defense industry. The combination of Cyient’s industry knowledge and experience combined with ASE’s expertise will help to develop new products and solutions in electrical power generation and also in conversion, management, and distribution systems. This will help to strengthen Cyient’s combined business opportunities worldwide including possible offset discharge obligations.

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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