Cyient surges on entering into strategic partnership with Deutsche Aircraft
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Cyient is currently trading at Rs. 1993.50, up by 52.70 points or 2.72% from its previous closing of Rs. 1940.80 on the BSE.
The scrip opened at Rs. 1965.30 and has touched a high and low of Rs. 1999.90 and Rs. 1964.80 respectively. So far 3332 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. 959.80 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2015.80 and Rs. 1915.05 respectively. The current market cap of the company is Rs. 22017.73 crore.
The promoters holding in the company stood at 23.20%, while Institutions and Non-Institutions held 56.79% and 20.01% respectively.
Cyient has entered into a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer (OEM) located in Webling, close to Munich. Within the scope of this partnership, the companies will collaborate on the detailed design for manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.
Designed to operate along regional routes, the D328eco is a highly fuel-efficient aircraft that is an upgraded version of the Dornier 328 series. With an increased passenger capacity, the aircraft requires specific structural updates. The D328eco is expected to revolutionize regional air travel and become the benchmark of aviation with its advanced features, unmatched versatility and operational flexibility in the most challenging environments to connect regions and people.
Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics
