ETtechICICI Direct has buy call on with a target price of Rs 895. The current market price of Cyient is Rs 863.5. ICICI Direct recommended to keep stop loss at Rs 829.
Cyient, incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 9448.47 Crore) operating in IT Software sector.
Cyient key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1415.90 Crore, up 10.29 % from last quarter Total Income of Rs 1283.80 Crore and up 25.69 % from last year same quarter Total Income of Rs 1126.50 Crore. Company has reported net profit after tax of Rs 79.10 Crore in latest quarter.
The company’s top management includes Mr.B V R Mohan Reddy, Mr.Vivek Narayan Gouir, Mr.Vinai Thummalapally, Mr.Vikas Sehgal, Ms.Matangi Gowrishankar, Mr.Alain De Taeye, Mr.Ajay Aggarwal, Mr.Karthikeyan Natarajan, Mr.Krishna Bodanapu, Mr.M M Murugappan, Mr.Ramesh Abhishek. Company has S R & Associates LLP as its auditors. As on 30-09-2022, the company has a total of 11 Crore shares outstanding.
Investment Rationale
Breakout above the falling supply line joining highs of April 2022 and a base at 50 days EMA.
Promoter/FII Holdings
Promoters held 23.37 per cent stake in the company as of 30-Sep-2022, while FIIs owned 34.04 per cent, DIIs 23.69 per cent.
Cyient, incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 9448.47 Crore) operating in IT Software sector.
Cyient key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2022.
Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 1415.90 Crore, up 10.29 % from last quarter Total Income of Rs 1283.80 Crore and up 25.69 % from last year same quarter Total Income of Rs 1126.50 Crore. Company has reported net profit after tax of Rs 79.10 Crore in latest quarter.
The company’s top management includes Mr.B V R Mohan Reddy, Mr.Vivek Narayan Gouir, Mr.Vinai Thummalapally, Mr.Vikas Sehgal, Ms.Matangi Gowrishankar, Mr.Alain De Taeye, Mr.Ajay Aggarwal, Mr.Karthikeyan Natarajan, Mr.Krishna Bodanapu, Mr.M M Murugappan, Mr.Ramesh Abhishek. Company has S R & Associates LLP as its auditors. As on 30-09-2022, the company has a total of 11 Crore shares outstanding.
Investment Rationale
Breakout above the falling supply line joining highs of April 2022 and a base at 50 days EMA.
Promoter/FII Holdings
Promoters held 23.37 per cent stake in the company as of 30-Sep-2022, while FIIs owned 34.04 per cent, DIIs 23.69 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Read More News on
(What's moving Sensex and Nifty Track latest market news, stock tips and expert advice on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.