Cyient rises on inking multi-year deal with Honeywell
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Cyient is currently trading at Rs. 778.65, up by 7.85 points or 1.02% from its previous closing of Rs. 770.80 on the BSE.
The scrip opened at Rs. 777.00 and has touched a high and low of Rs. 792.00 and Rs. 775.00 respectively. So far 10442 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. 792.00 and Rs. 754.10 respectively. The current market cap of the company is Rs. 8596.57 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 entered into partnership with Honeywell to manufacture the aviation industry's first cloud-connected cockpit system - The Honeywell Anthem. Cyient has inked a multi-year deal with Honeywell for this project.
The Honeywell Anthem flight deck will have unparalleled levels of connectivity, an exciting and intuitive interface modeled after everyday smart devices, and a highly scalable and customizable design. It will be driven by a versatile software platform that can be modified for virtually every type of aircraft, including passenger and cargo planes, business jets, helicopters, general aviation planes, and the fast-developing class of advanced airmobility (AAM) vehicles.
With design validation for electronics, the company will provide turnkey manufacture and testing of multiple LRUs that comprise the Honeywell Anthem avionics suite. With the help of Cyient's supply chain management technologies and Industry 4.0 linked plants, Honeywell will obtain predictable delivery schedules and continuous quality improvement over the program's life. It will also provide New Product Introduction manufacturing of initial builds and is currently ramping low-rate production orders to support demand in 2022.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
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