Cyient hits 52-week high on strong FY18 outlook

The stock rallied 9% to Rs 569 on the BSE in intra-day trade after the company said it expect to deliver a double digit earnings growth in FY18.

Cyient  rallied 9% to Rs 569 on the BSE in intra-day trade after the company said it expect to deliver a double digit earnings growth in the financial year 2017-18 (FY18).

“Our outlook for FY18 is strong, backed by a strong pipeline and order backlog. We expect a double digit growth in our services business while the design led manufacturing or DLM business is expected to grow around 20%. The margins are expected to improve by 50bps driven by improvements in operational efficiency through the year,” said Krishna Bodanapu, managing director and chief executive officer of Cyient.

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