Cyient jumps on incorporating wholly owned subsidiary
Cyient is currently trading at Rs. 2000.00, up by 42.40 points or 2.17% from its previous closing of Rs. 1957.60 on the BSE.
The scrip opened at Rs. 1999.95 and has touched a high and low of Rs. 2031.40 and Rs. 1970.60 respectively. So far 15087 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. 2049.95 and Rs. 1782.50 respectively. The current market cap of the company is Rs. 22185.09 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 incorporated a wholly owned subsidiary of the Company ‘Cyient Semiconductors’ under the provisions of Companies Act, 2013.
Earlier, the company had received an approval for the sale of up to 1,14,99,390 equity shares i.e. approximately 14.50% of the total outstanding equity shareholding of its subsidiary, Cyient DLM, by way of a share sale utilising the block deal window mechanism provided by the stock exchanges (in one or more tranches). The Board of Directors of the Company, at its meeting held on August 20, 2024 had considered and approved the same.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
