Cyient surges on signing MoU with QinetiQ Target Systems

Cyient is currently trading at Rs. 445.00, up by 1.80 points or 0.41% from its previous closing of Rs. 443.20 on the BSE.

The scrip opened at Rs. 445.10 and has touched a high and low of Rs. 458.00 and Rs. 441.25 respectively. So far 865 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 821.00 on 11-Sep-2018 and a 52 week low of Rs. 414.00 on 30-Aug-2019.

Last one week high and low of the scrip stood at Rs. 458.00 and Rs. 421.05 respectively. The current market cap of the company is Rs. 4893.72 crore.

The promoters holding in the company stood at 22.74%, while Institutions and Non-Institutions held 65.76% and 11.51% respectively.

Cyient has signed a Memorandum of Understanding (MoU) with UK-based defense technology firm, QinetiQ Target Systems (QTS), to offer avionics products for its unmanned target systems. The company will provide advanced manufacturing and electronics engineering solutions for QTS’ range of unmanned air, land, and sea target systems from its facilities in India.

This partnership will allow Cyient to support the ‘Make in India’ initiative of the Government of India by building critical subsystems for QTS products out of its manufacturing facilities.

Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders. It leverages the power of digital technology and advanced analytics capabilities, along with domain knowledge and technical expertise, to solve complex business problems.

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