Cyient rises on inking agreement to acquire entire stake in B&F Design

11 Sep 2017 Evaluate

Cyient is currently trading at Rs. 534.00 up by 1.40 points or 0.26% from its previous closing of Rs. 532.60 on the BSE.

The scrip opened at Rs. 542.00 and has touched a high and low of Rs. 542.00 and Rs. 534.00 respectively.

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. 542.00 and Rs. 522.20 respectively. The current market cap of the company is Rs. 6,011.00 crore.

The promoters holding in the company stood at 22.18%, while Institutions and Non-Institutions held 64.36% and 13.46% respectively.

Cyient through its step down subsidiary Cyient Defense Services Inc. has signed a definitive agreement to acquire 100% equity ownership in B&F Design Inc. This is Cyient’s sixth acquisition in the last three years as part of its ‘Design-Build-Maintain’ strategy. The transaction would be EPS accretive.

Based in New Britain, Connecticut, USA, and founded by Raymond F. Forgione in 1965 as a family business, B&F Design initially offered design services to local manufacturing companies and later expanded the business to include the manufacturing of tools, and has built a reputation for its high-quality design and tooling capability. Today, their area of expertise includes design and manufacturing of precision engine assembly equipment, repair tooling, machining of fixtures and gauges, and engine factory modernization 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.

Cyient Share Price

839.75 -16.35 (-1.91%)
30-Jan-2023 18:02 View Price Chart
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