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Cyient partners with GreenH and Luxcara for hydrogen project in Norway

Cyient has secured a strategic contract with GreenH and Luxcara to support the development of a hydrogen production and distribution facility in Bodø, Norway. This project aims to supply green hydrogen to the maritime sector, specifically for the Vestfjorden ferries, marking a significant advancement in Norway's renewable energy initiatives. Cyient will provide comprehensive engineering services to optimize project delivery and enhance efficiency throughout the project's lifecycle.

Cyient launches semiconductor subsidiary with 100 million dollar investment

Hyderabad-based engineering firm Cyient has launched its semiconductor subsidiary, Cyient Semiconductors, with a $100 million investment approved by its board. The new unit will focus on application-specific integrated circuit (ASIC) turnkey solutions and integrated chip (IC) design services, aiming to generate $35 million to $40 million in revenue, approximately 5% of Cyient's total revenue. Operations will extend across India, the US, Germany, Belgium, the Netherlands, and Taiwan.

NSE adds 45 new stocks to futures and options trading segment

The National Stock Exchange (NSE) has expanded its futures and options (F&O) segment by adding 45 new stocks, effective November 29, 2024, increasing the total to 223. This inclusion, following SEBI’s revised criteria, aims to enhance liquidity and market participation, featuring notable stocks like LIC, Jio Financial Services, and Zomato. Analysts anticipate that this move will boost trading volumes and improve price discovery for these stocks.

mid-tier it firms pursue acquisitions to navigate demand slowdown

Mid-tier IT firms are increasingly pursuing acquisitions to navigate a demand slowdown caused by macroeconomic challenges. Companies like Sonata Software, eClerx, and RateGain are focusing on strategic investments to enhance capabilities and market presence. Sonata anticipates revenue growth in FY25, while Cyient and Newgen Software are leveraging strong vertical performance and opportunities in the Middle East, respectively.

JPMorgan forecasts ER&D growth revival amid telecom sector challenges

JPMorgan anticipates a revival in Engineering Research & Development (ER&D) growth by 2025, driven by a recovery in the automobile sector, despite ongoing challenges in telecom that may limit valuation upside. The firm favors KPIT Tech and Persistent Systems for their strong growth potential, assigning target prices of Rs 1,900 and Rs 6,100, respectively, while also highlighting L&T Technology Services and Cyient as key recovery plays.

stocks to watch hero motocorp glenmark adani total gas and more

Hero MotoCorp, Glenmark, Adani Total Gas, IGL, Cyient, ACME, Delhivery, Crompton Greaves, and Honasa Consumer are in focus for Monday's trading session. Additionally, Godavari Biorefineries, Waaree Energies, Valecha Engineering, and Samyak International are set to release their quarterly earnings on November 18.

Anand Rathi recommends buy rating for Cyient with target price of 2230

Anand Rathi has issued a buy rating for Cyient, setting a target price of Rs 2,230 in a report dated October 30, 2024. The company's Q2 performance showed a 2% quarter-on-quarter growth, although sustainability metrics declined. Despite challenges, management remains optimistic about improved growth in the second half of the fiscal year.

Cyient reports strong Q2 recovery prompting upgrade to buy rating

Cyient reported a strong recovery in Q2, with DET revenue growing 1.3% QoQ in constant currency and EBIT margin improving to 14.2%. Despite a 14.2% QoQ decline in order intake, consolidated revenue rose 9.9% QoQ to US$ 220.7 million, and PAT increased by 24.7% QoQ to INR 1.79 billion. Following a recent stock correction, Prabhudas Lilladher has upgraded its rating to BUY, citing attractive valuations.

Cyient receives buy rating with target price of 2100 from Motilal Oswal

Motilal Oswal has maintained a BUY rating on Cyient, setting a target price of INR 2,100, reflecting an 18% upside. The DET business reported a 1.3% QoQ revenue growth to USD 173m, with EBIT margins improving to 14.2%. Despite a muted service order intake, the company anticipates revenue and PAT growth in the second half of FY25.

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