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Cyient surges on collaborating with Microsoft

Aug-07-2023   12:08 Hrs IST

Cyient is currently trading at Rs. 1612.00, up by 49.95 points or 3.20% from its previous closing of Rs. 1562.05 on the BSE.

The scrip opened at Rs. 1575.00 and has touched a high and low of Rs. 1612.00 and Rs. 1568.15 respectively. So far 27424 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1615.85 on 07-Aug-2023 and a 52 week low of Rs. 724.00 on 03-Nov-2022.

Last one week high and low of the scrip stood at Rs. 1615.85 and Rs. 1430.00 respectively. The current market cap of the company is Rs. 17721.54 crore.

The promoters holding in the company stood at 23.35%, while Institutions and Non-Institutions held 57.87% and 18.77% respectively.

Cyient has collaborated with Microsoft to establish ‘EnGeneer’ Center of Excellence (CoE), using Azure OpenAI Service and Generative AI technologies to drive engineering innovation across industries. EnGeneer CoE will enhance engineering lifecycle agility by developing platforms and tools that empower engineers with automation and assistance, ultimately boosting productivity and quality through Generative AI.
As part of this collaboration, Cyient is proud to announce the integration of new Generative AI capabilities into its existing solutions, CyFast and CyArc. These advancements will expedite the validation, verification, and compliance checking of engineering systems, accelerating the product development cycle.

The collaboration between Microsoft and Cyient further extends beyond EnGeneer CoE, encompassing a broader collaboration to use OpenAI and Generative AI technologies across all Cyient platform solutions, including healthcare, sustainability, and connected products. By harnessing Microsoft Azure OpenAI Service, Cyient aims to augment its capabilities and deliver intelligent products and platforms of the future.

Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.