Cyient

Shares of Cyient on Wednesday jumped 5 per cent in the mid-session trade after the IT company rejigged its top management. The stock of the firm zoomed 5.07 per cent in the mid-session trade at Rs 1,045 apiece on the BSE. During the intra-day trade, the stock touched its 52-week high of Rs 1,049.80 per share. On the NSE, it climbed 4.97 per cent to Rs 1,044.15 per piece. In the mid-session trade, the 30-share BSE Sensex is trading 522.92 points or 0.88 per cent higher at 59,626.22 points. On Monday, IT company Cyient said that it has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD.

IPO-bound IT company Cyient has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD. The company has elevated executive director (ED) and Chief Operating Officer Karthik Natarajan as ED and CEO. "With immediate effect, Cyient's board of directors has appointed Krishna Bodanapu as Executive Vice Chairman and Managing Director of Cyient Limited. Karthikeyan (Karthik) Natarajan has been appointed as CEO and continues to be Executive Director of Cyient Limited," the company said in a statement. The board of directors of Cyient Limited had approved the reorganization of the company into two separate operating entities to foster their individual growth momentum. Subsequently, a Draft Red Herring Prospectus (DRHP) was filed to take the Design Led Manufacturing (Cyient DLM) business through an Initial Public Offer (IPO) with the Indian market regulator. Cyient has appointed President and Globa

The company's design-manufacturing business Cyient DLM reported a 10.3% increase in revenue

The gains came even as India's manufacturing activity lost some momentum in December, with the Manufacturing PMI easing to a three-month low of 55.5

The overall market breadth remained in the favour of the bulls, courtesy rally in the broader markets

Cyient, Tata Elxsi and 10 other companies will release their quarterly earnings on April 22

Tata Elxsi, Larsen & Toubro Infotech, Wipro, Cigniti Technologies, Ramco Systems and Tech Mahindra were up in the range of 2 per cent to 6 per cent

The management said it expects sequential improvement in margins in Q4FY21 driven by the increase in volume and improvement in operational efficiencies

IT firm Cyient on Thursday reported a 11.9 per cent decline in net profit at Rs 95.4 crore for the December 2020 quarter. The Hyderabad-based company had posted a net profit of Rs 108.3 crore in the year-ago period, Cyient said in a regulatory filing. Its revenue decreased 5.6 per cent to Rs 1,044.3 crore for the period under review as against Rs 1,106 crore in the third quarter of 2019-20, it added. On sequential basis, net profit was higher by 13.8 per cent from Rs 83.9 crore, while revenue was higher by 4.1 per cent from Rs 1,003.3 crore in September 2020 quarter. "PAT increased by 13.8 per cent quarter-on-quarter primarily from higher other income (Rs 126 million) partially offset by higher tax from higher profits and increase in finance charges," it said. In dollar terms, Cyient's revenue was at USD 141.4 million, up 4.7 per cent q-o-q and a de-growth of 8.9 per cent year-on-year, it said. "Q3 FY21 results are in line with our expectations, we recorded a revenue of USD 141.4

All that happened in the markets today

The momentum indicator for FDC has reversed from the overbought territory which hints of further positive momentum in the counter

The company's March quarter (Q4F20) performance came below expectations on, both, revenue and margin terms largely due to the impact of Covid-19.

Top Indian IT firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme

For Nifty, the immediate support on the lower side is pegged at 12,225; hence, till those levels are not broken, the trend is positive for the target of 12,340

Management revised services revenue growth guidance to 7.5% for FY19 from 8.5-9.5% earlier

BS ReporterHyderabad, 4 September: Cyient Solutions and Systems Private Limited(CSS), a joint venture between Hyderabad-based Cyient Limited and BlueBird Aero Systems, Israel, today announced that it has received its first supply order from a unit of Indian Army for SpyLite mini unmanned aerial vehicle(UAV) for high altitude aerial surveillance.SpyLite is an advanced, combat-proven, electric. mini UAV system. It is optimised to offer covert, extended range real-time visual intelligence. Fully autonomous, from launch to accurate parachute recovery, the system delivers enhanced reliability even in severe weather conditions, assuring long endurance, high operational availability, the company said. The company, however, did not disclose the order value.Commenting on the development, Ronen Nadir, CEO of BlueBird Aero Systems said,"When looking for the perfect UAV solution, experienced end-users such as the Indian Army opt for a winning combination of field-proven UAV system with high ...

The stock hit a 52-week high of Rs 622, up 7% on BSE in early morning trade, after the company reported 1.3% QoQ dollar revenue growth at $152 million in December quarter.

BS ReporterHyderabad, 11 September: Hyderabad-based IT and engineering services company Cyient Limited has said it has signed a definitive agreement to acquire 100 percent equity ownership in US-based design services company B&F Design Inc. The company did not share the financial details involving the deal. B&F Design employes a team of around 47 people, with a revenue of $ 8-9 million. The firm brings a strong team of technical and domain experts in aerospace tooling along with a common anchor customer, the company said.With new programmes going into manufacturing, the demand for precision tooling is expected to go up significantly while the company believes that this acquisition would help it pursue more business opportunities in this field. This is Cyient's sixth acquisition in the last three years as part of its design-build-maintain strategy.Anand Parameswaran, senior vice president for Aerospace and Defence at Cyient said," Cyient holds a leadership position in ...

The stock surged 9% to Rs 509 on BSE in early morning trade

Collaboration to offer full life-cycle services, products, systems to aerospace & defence industry