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Cyient soars on divesting 49% stake in Cyient Solutions & Systems

12 Apr 2018 Evaluate

Cyient is currently trading at Rs. 645.35, up by 13.05 points or 2.06% from its previous closing of Rs. 632.30 on the BSE.

The scrip opened at Rs. 635.60 and has touched a high and low of Rs. 651.70 and Rs. 635.60 respectively. So far 14393 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 698.00 on 28-Mar-2018 and a 52 week low of Rs. 475.20 on 27-Sep-2017.

Last one week high and low of the scrip stood at Rs. 657.20 and Rs. 624.00 respectively. The current market cap of the company is Rs. 7265.82 crore.

The promoters holding in the company stood at 22.18%, while Institutions and Non-Institutions held 61.68% and 16.14% respectively.

Cyient has divested 49% stake in Cyient Solutions & Systems to Bluebird Aero Systems, an entity incorporated in Israel, pursuant to a Share Purchase Agreement. Consequently, Cyient Solutions & Systems is now a Joint Venture (JV) between the two companies.

The parties wish to operate jointly in India for the purpose of undertaking the business of manufacturing, assembly, testing, maintenance, life cycle support facilities, including sales and servicing, of UAV Systems, in India, aimed at servicing the Indian UAV market, as part of Cyient’s strategy to establish it’s Make in India initiative further.

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

947.65 -13.95 (-1.45%)
20-Apr-2026 16:59 View Price Chart
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