Cyient Ltd News Today

Silicon Valley Tech Investor Satya Komal Joins Kritsnam Technologies as a Major Investor

Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 20408.14 Crore) operating in IT Software sector

Cyient shares hit a record high of Rs 2,457 on December 22, 2023, but failed to hold on to the momentum. The stock found support above 1,900-2,000 levels, which acted as crucial support multiple times since December 2023. Short-term traders can look to buy the stock now or on marginal dips for a possible target of Rs 2,450 which could lead to a fresh record high.

The stock staged a smart bounce back after hitting a low above 1800 levels on 13th March. Since then, the stock has rallied more than 20% which suggests that bulls are here to stay. In terms of price action, the stock is now trading well above most of the crucial short- and long-term moving averages such as 5,10,30,50,100 and 200-DMA on the daily charts, which is a positive sign for the bulls.

RBI and Sebi barred JM Financial Products from taking any new mandate for acting as a lead manager to any public issue of debt securities

Birlasoft: Antique said the deal pipeline remains strong but future signings are uncertain due to the timing of client decisions. The IT firm is looking to execute and maximise signings in the upcoming quarter, it said.

Following a multibagger surge in the stock in the last 1 year, domestic brokerage house Axis Securities has picked IT stock Cyient as its top pick of the week.

Top stock picks for today: On the stock-specific front, Shah selected Cyient Ltd as one of his top picks for the day. "This mid-cap IT firm is outperforming its large-caps peers. One can expect target prices of Rs 2,500-2,600 after the third-quarter (Q3 FY24) earnings," he told Business Today TV. The stock was last seen trading 0.63 per cent higher at Rs 2,215.05 today.

Cyient DLM Ltd.'s profit rose in the third quarter of fiscal 2024 beats the analyst estimates. The company's profit after tax rose 222% year-on-year to Rs 18.4crore, compared to a consensus analyst estimate of Rs 17 crore.

Hyderabad :   Union Education Minister Shri Dharmendra Pradhan inaugurated the second edition of the Ministry of Education’s flagship R&D Innovation Fair, IInvenTiv-2024 today at IIT Hyderabad. Alongside the Hon’ble Chief Guest, Mr. Sanjay Murthy