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Cyient jumps on partnering with IITH, WiSig Networks
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Cyient is currently trading at Rs. 882.25, up by 16.90 points or 1.95% from its previous closing of Rs. 865.35 on the BSE.
The scrip opened at Rs. 886.20 and has touched a high and low of Rs. 911.15 and Rs. 873.80 respectively. So far 12069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1292.00 on 19-Oct-2021 and a 52 week low of Rs. 726.05 on 03-May-2021.
Last one week high and low of the scrip stood at Rs. 915.35 and Rs. 849.30 respectively. The current market cap of the company is Rs. 9741.58 crore.
The promoters holding in the company stood at 23.41%, while Institutions and Non-Institutions held 57.35% and 19.25% respectively.
Cyient has partnered with IIT Hyderabad (IITH) and WiSig Networks, a startup incubated at IITH, to enable volume production of India's first architected and designed chip - the Koala NB-loT SoC (Narrowband-loT System-on-Chip). The Memorandum of Understanding (MOU) signed between them is aligned with MEITY's (Ministry of Electronics and Information Technology, India) goals of building a vibrant semiconductor design and innovation ecosystem to enable the emergence of India as a global hub for electronics manufacturing and design.
IITH and WiSig developed the Koala chip, and Cyient enabled the IC (integrated circuit) design for this project. Volume production of the NB-loT SoC includes the development of a package, production test solution suited for volume production, organization of silicon fabrication, volume testing of the IC, and the management of supplying the chip.
NB-loT is a 5G massive Machine-Type-Communication (MTC) technology, a fast-growing one, that enables low-bit rate loT applications with long-range and extends device battery life up to 10 years. Smart meters, machine-to-machine connectivity, Industry 4.0, a plethora of sensor connectivity, asset tracking, digital healthcare, and many more applications will benefit by using this NB-loT chip.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
