Cyient share price jumps 4% on roping in Sukumal Banerjee as CEO; details

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

Cyient share price: Technology firm Cyient shares rose as much as 4.11 per cent to hit an intraday high of Rs 1,535.55 per share on Thursday, February 20, 2025. 

 

The rise in the Cyient share price followed the announcement of appointing Sukumal Banerjee as executive director and chief executive officer of its DET business, effective February 19, 2025. He will also serve on the Board of Directors of Cyient Limited. 

 

With over three decades of experience, Banerjee is a highly regarded professional and recognised leader in the ER&D and Technology sector.

 

MM Murugappan, Chairman, Cyient, said, “I am delighted with the appointment of Sukamal as the next CEO to drive the DET business. Sukamal is a values-based leader whose experience and leadership in the ER&D and Technology sector will help Cyient tremendously as we strengthen the organization to deliver the next phase of accelerated growth. I am confident that under Sukamal’s leadership, Cyient DET will be poised to be a leading technology-led intelligent engineering solutions organization delivering to the expectations of our Clients, Associates, and Shareholders.” 

 

 

Banerjee spent the majority of his career at HCL Technologies, ultimately serving as Corporate Vice President, responsible for the engineering business. Most recently, he was the CEO and Board Member of Xoriant, a leading digital engineering company.

 

Sukamal has been instrumental in establishing and expanding business lines and forging market-leading partnerships for global accounts, focusing on areas such as Digital Industry 4.0 and AI/ML across sectors like Communications, Semiconductor, Energy, Transportation, Automotive & Mobility, and Healthcare & Life Sciences. 

 

His expertise aligns with Cyient’s key customer segments. Banerjee is known for his thought leadership in transitioning industries through technological changes and for building global capabilities across various regions.

 

On his appointment, Banerjee said, “The ER&D sector is set to drive transformative change over the next decade as engineering and technology innovations redefine the future of products, plants, and networks. In this dynamic landscape, Cyient stands out as a leader in the ER&D sector, powered by its deep-rooted multi-vertical expertise. Leading a team of over 16,000 passionate Cyientists is an honor and a responsibility I embrace with commitment. Together, we will push boundaries, set new benchmarks, and elevate Cyient to reach newer heights and milestones.” 

 

Cyient, established in 1991, delivers intelligent engineering solutions across products, plants, and networks for over 300 global customers, including 30 per cent of the top 100 global innovators. The market capitalisation of Cyient is Rs 16,176.60 crore, according to BSE.

 

At 12:10 PM, Cyient share price was trading 0.9 per cent lower at Rs 1,461. In comparison, BSE Sensex was trading 0.28 per cent lower at 75,725.19.