Cyient soars on setting-up subsidiary for Semiconductor business
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Cyient is currently trading at Rs. 1845.25, up by 69.55 points or 3.92% from its previous closing of Rs. 1775.70 on the BSE.
The scrip opened at Rs. 1780.20 and has touched a high and low of Rs. 1900.00 and Rs. 1780.20 respectively. So far 84339 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. 1,415.00 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 1900.00 and Rs. 1768.00 respectively. The current market cap of the company is Rs. 20231.14 crore.
The promoters holding in the company stood at 23.16%, while Institutions and Non-Institutions held 56.97% and 19.87% respectively.
Cyient has expanded its Semiconductor business with the establishment of a fully owned subsidiary. This decision marks a significant leap forward in Cyient’s commitment to innovation and excellence within India's growing semiconductor landscape.
Cyient's credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled it to set-up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips. This subsidiary ushers a new avenue of possibilities for Cyient to enhance value to its stakeholders.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics.
