Cyient was up 2.85% to Rs 499.35 at 12:10 IST on BSE on bargain hunting after yesterday's slide triggered by Carrier International Mauritius offloading bulk shares of the company.
Meanwhile, the S&P BSE Sensex was up 68.86 points or 0.22% at 31,228.67.
On the BSE, so far 21,000 shares were traded on the counter as against average daily volumes of 31,000 shares in the past two weeks. The stock had hit a high of Rs 510 and a low of Rs 494.95 so far during the day.
Shares of Cyient had slumped 7.42% in a single trading session to settle at Rs 485.50 yesterday, 27 September 2017. Bulk deal data on the National Stock Exchange of India (NSE) website showed that Carrier International Mauritius sold 1.36 crore shares of Cyient at Rs 475.17 per share in bulk deal on the NSE on 27 September 2017. Amansa Holdings bought 30.79 lakh shares. Birla Sun Life 95 Fund purchased 16.89 lakh shares. Birla Sun Life Pure Value Fund bought 6.30 lakh shares. DSP Blackrock Small and Mid Cap Fund purchased 8.32 lakh shares and Government Pension Fund Global purchased 14.53 lakh shares.
Amansa Holdings held 3.69% stake and Carrier International Mauritius controlled 12.16% stake in Cyient as per the shareholding pattern as on 30 June 2017.
On a consolidated basis, net profit of Cyient rose 16.6% to Rs 85.10 crore on 8.8% growth in net sales to Rs 903.40 crore in Q1 June 2017 over Q1 June 2016.
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Cyient provides engineering, manufacturing, geospatial, network and operations management services to global industry leaders.
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