Cyient Limited

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.

Last month, electronic Manufacturing Services (EMS) firm Cyient DLM, a subsidiary of Cyinet, filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an IPO.

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

Electronic Manufacturing Services (EMS) firm Cyient DLM Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 740 crore through an Initial Public Offering (IPO). The initial share-sale is purely a fresh issue of equity share with no Offer-For-Sale (OFS) component, according to the Draft Red Herring Prospectus (DRHP). The company may consider issuance of securities aggregating up to Rs 148 crore in a pre-IPO placement round. Funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as for general corporate purposes. Cyient DLM, a subsidiary of Cyient, is the leading integrated EMS and solutions provider with a focus on the entire life cycle of a product, including design, build and maintenance. It has three state manufacturing facilities in Hyderabad, Bengaluru and Mysore. The India EMS is a sizable industry, contributing to 2.2 pe

However, fears of an impending recession and declining profitability have together contributed in the change of mood for these IT services companies, along with their approach

Cyient also disappointed on the revenue front, with 8 per cent year-on-year (YoY) organic growth

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IT company Cyient on Thursday said it will acquire Singapore-based Grit Consulting for $37 million in an all-cash deal.

Cyient said that it will be the largest outbound acquisition by an Indian engineering services company and even the company's largest acquisition to date

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As part of the collaboration, Cyient will leverage a 5G core developed by IIT-Hyderabad for testing various digital use cases and interoperability with components

'We are aggressively considering what makes sense in our portfolio,' Cyient Managing Director Krishna Bodanapu said

The IT company is set to compete with the likes of Tech Mahindra, Altiostar, Rakuten

Cyient on Friday said it has received nod from the Foreign Investment Review Board (FIRB) of Australia, and has completed the acquisition of Australian consulting firm IG Partners.

In the past month, Cyient has underperformed the market by falling 13 per cent, as compared to a 1.5 per cent rise in the S&P BSE Sensex till Thursday.

The company's Ebit came in at Rs 50.2 crore, up 10.6 per cent than Rs 45.4 crore reported in Q4FY20

Cyient's Q1FY20 revenue of USD 157 million de-grew by 5.2% QoQ, was worst sequential performance in the past 10 years.

Indian engineers were blamed for faults in planes that crashed

Appointment became effective since April 20