25 Sep 2024

Cyient Stock Rises Following Creation of New UAE Subsidiary

Cyient's shares are currently trading at Rs. 1997.45, marking a rise of 7.40 points or 0.37% from the previous close of Rs. 1990.05 on the BSE.

The stock began trading today at Rs. 1987.50, hitting a high of Rs. 2010.00 and a low of Rs. 1985.00. So far, 1039 shares have exchanged hands.

Cyient, a BSE 'A' group stock with a face value of Rs. 5, recorded a 52-week high of Rs. 2457.00 on December 22, 2023, and a 52-week low of Rs. 1542.00 on October 26, 2023. In the past week, the stock has fluctuated between Rs. 2100.00 and Rs. 1978.15. The company's market capitalization is currently Rs. 22,233.41 crore.

Promoter holdings stand at 23.16%, while institutional and non-institutional investors hold 56.56% and 20.28%, respectively.

Cyient has established a wholly owned subsidiary, ‘Cyient Project Management Consultancy - L.L.C - S.P.C,’ registered in Abu Dhabi, UAE. The subsidiary aims to focus on procurement consulting, engineering project management, IT consultancy, research in cloud computing, and IT network services.

Previously, Cyient also incorporated another subsidiary, ‘Cyient Semiconductors,’ under the Companies Act, 2013.

Cyient offers engineering, manufacturing, geospatial, and network management services, utilizing advanced digital technologies and analytics to serve global clients.