Cyient soars on acquiring 27.3% stake in Azimuth AI
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Cyient is currently trading at Rs. 1783.95, up by 25.05 points or 1.42% from its previous closing of Rs. 1758.90 on the BSE.
The scrip opened at Rs. 1770.15 and has touched a high and low of Rs. 1809.65 and Rs. 1755.95 respectively. So far 43310 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. 1573.00 on 31-Oct-2023.
Last one week high and low of the scrip stood at Rs. 1900.00 and Rs. 1694.60 respectively. The current market cap of the company is Rs. 19738.67 crore.
The promoters holding in the company stood at 23.15%, while Institutions and Non-Institutions held 58.09% and 18.76% respectively.
Cyient has acquired a 27.3% stake in Azimuth AI, a fabless custom ASIC company known for its expertise in intelligent energy and power solutions. This strategic investment marks a significant milestone in Cyient’s semiconductor journey and demonstrates the continued focus to drive accelerated growth in this industry. This strategic investment marks another significant step in Cyient’s ongoing efforts to expand its capabilities and drive innovation across the semiconductor industry.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
