Cyient's stock fell as much as 9.71 per cent during the day to ₹1,125 per share, the worst intraday loss since January 24 this year
Domestic technology company Cyient has earmarked a USD 100 million investment for its newly carved out semiconductor business, a top official said on Tuesday. The Hyderabad-headquartered company is also looking at raising capital from an external investor by September and is in the process of appointing merchant bankers for the same, officials said. Without quantifying the amount that it is targeting to raise, its Executive Vice Chairman and Managing Director Krishna Bodanapu said the money will be deployed for the talent-intensive research and development efforts. Bodanapu said that the board has already committed USD 100 million for the new venture and it will also be looking to raise more resources from external investors. He said the company is targeting to offer customised silicon chip solutions to a variety of industries, both globally and domestically, including electric vehicles and discoms, which need smart meters. The demand is also very high for such solutions, and apar
According to NSE bulk deal data, HDFC Mutual Fund bought 6,23,896 shares at ₹1,099 per share
The rise in the share price followed the announcement of appointing Sukumal Banerjee as executive director and chief executive officer of its DET business, effective February 19, 2025
Metropolis Healthcare, Alembic Pharma and Tejas Networks are the other 3 stocks to witness a 'Death Cross' on the chart in recent days; technically this is a negative development for these stocks.
Chart shows that stocks like Cyient, Rajesh Exports, Mahindra Life, SW Solar and Gujarat Pipavav have tumbled up to 81 per cent from the highs in around last two years; Bias remains negative.
Cyient's profit fell 31.7 per cent quarter-on-quarter (Q-o-Q) to Rs 122.3 crore in Q3FY25, from 179.1 crore in the September quarter of financial year 2025 (Q2FY25)
Its profit declined to Rs 122 crore ($14.12 million) for the three months ended Dec. 31, from Rs 147 crore a year ago
Derivatives market data shows FIIs net sold 78,868 contracts of Nifty futures in first 4 trading days of Jan series while OI rose 74,992 contracts; thus implying build-up of short positions in Nifty.
On the other hand, Cyient, CAMS, Hero MotoCorp, ICICI General Insurance, Jio Financial Services witness short build-up in trades on Monday.
The acquisition is part of the company's strategic expansion of its semiconductor business. In July last year, the company announced the establishment of a fully owned subsidiary