Cyient moves up on completing acquisition of Sentiec Oyj, Citec Engineering India
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Cyient is currently trading at Rs. 847.60, up by 6.15 points or 0.73% from its previous closing of Rs. 841.45 on the BSE.
The scrip opened at Rs. 853.05 and has touched a high and low of Rs. 853.05 and Rs. 844.60 respectively. So far 728 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. 725.65 on 07-Jul-2022.
Last one week high and low of the scrip stood at Rs. 857.00 and Rs. 811.50 respectively. The current market cap of the company is Rs. 9296.01 crore.
The promoters holding in the company stood at 23.40%, while Institutions and Non-Institutions held 56.56% and 20.04% respectively.
Cyient has completed acquisition of Sentiec Oyj and Citec Engineering India. Earlier, Cyient Europe, a wholly owned subsidiary of Cyient entered a definitive agreement with Sentiec Oyj, Finland, which is the parent entity of Citec; and Cyient entered a definitive agreement with Citec Engineering India, India which is a wholly owned subsidiary of Citec.
This acquisition would help Cyient to acquire new capabilities in Plant design engineering, process engineering and technical publications. Addition to Citec’s engineering capabilities to Cyient’s portfolio would help the combined organization to win new projects from customers as well as acquire new customers because of the enhanced portfolio of offerings.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
