Cyient advances on inking non-exclusive business alliance agreement with Kii Corporation

06 Jul 2017

Cyient is currently trading at Rs. 533.60, up by 9.15 points or 1.74% from its previous closing of Rs. 525.85 on the BSE.

The scrip opened at Rs. 526.20 and has touched a high and low of Rs. 535.00 and Rs. 526.20 respectively. So far 2,521 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 564.40 on 03-May-2017 and a 52 week low of Rs. 416.05 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 533.60 and Rs. 502.75 respectively. The current market cap of the company is Rs. 6,006.54 crore.

The promoters holding in the company stood at 22.18%, while Institutions and Non-Institutions held 64.25% and 13.57% respectively.

Cyient has signed a non-exclusive business alliance agreement with Kii Corporation, a leading Internet of Things (IoT) solutions enablement platform provider, to explore, bid and address business opportunities around smart city deployments.

Through this agreement, Cyient and Kii have decided to jointly pursue business opportunities globally, by leveraging their complementing skills and strengths. The partnership will combine Cyient’s domain expertise and geospatial capabilities with Kii’s IoT platform to develop connected solutions through smart devices and applications. Under the terms of the agreement, Cyient will also provide Kii with project delivery and implementation services.

Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.


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