Cyient gains on entering into MoU with Business Finland
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Cyient is currently trading at Rs. 1878.80, up by 32.80 points or 1.78% from its previous closing of Rs. 1846.00 on the BSE.
The scrip opened at Rs. 1835.10 and has touched a high and low of Rs. 1892.00 and Rs. 1835.10 respectively. So far 4176 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2457.00 on 22-Dec-2023 and a 52 week low of Rs. 1542.00 on 26-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1911.95 and Rs. 1835.10 respectively. The current market cap of the company is Rs. 20871.01 crore.
The promoters holding in the company stood at 23.16%, while Institutions and Non-Institutions held 56.56% and 20.28% respectively.
Cyient has entered into a memorandum of understanding (MoU) with Business Finland to collaborate in advancing technology innovation. This strategic partnership aims to foster joint initiatives focused on cutting-edge technologies, including 5G, AI, sustainability solutions, space technology, and robotics.
The MoU aims to facilitate cooperation opportunities between Cyient and Business Finland. The collaboration will leverage Cyient’s strong presence in Europe, especially in Finland, and a robust platform to work with the Finnish ecosystem, including startups. Business Finland will enable a joint go-to-market to enhance market access and visibility. Through this alliance, Business Finland aims to bolster Finland's status as a leader in innovation and to foster the development of new digital industries.
Cyient’s focus on the Nordic region, underscored by recent strategic acquisitions and a commitment to sustainability, aligns perfectly with this partnership. The collaboration aims to foster opportunities for Cyient to access Finnish technology and innovation, enhancing its market presence in the region.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
