Cyient shines on entering into MoU with SkyDrive
Cyient is currently trading at Rs. 2245.20, up by 94.30 points or 4.38% from its previous closing of Rs. 2150.90 on the BSE.
The scrip opened at Rs. 2193.75 and has touched a high and low of Rs. 2297.85 and Rs. 2189.00 respectively. So far 21684 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. 827.65 on 12-Jan-2023.
Last one week high and low of the scrip stood at Rs. 2297.85 and Rs. 2137.30 respectively. The current market cap of the company is Rs. 24884.17 crore.
The promoters holding in the company stood at 23.20%, while Institutions and Non-Institutions held 57.27% and 19.53% respectively.
Cyient has entered into a Memorandum of Understanding (MoU) with SkyDrive Inc., a leading Japanese eVTOL aircraft manufacturer. As per the MoU, both companies have agreed to work in partnership across product development, engineering, manufacturing, and digital services. Rising urbanization, growing population, and an e-commerce boom necessitate a modern, safe, and affordable mode of transportation for people and goods. Urban Air Mobility (UAM) offers seamless, secure and rapid transportation, helping to mitigate current and future challenges faced in urban areas.
It has the potential to revolutionize the way people and goods are transported within Intra and Inter-cities, providing a faster and more efficient alternative to traditional ground-based transportation. As per current estimates, the UAM aircraft market is expected to grow to around $25-30 billion by 2030.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
