Cyient jumped 5.26% to Rs 229 after the company said it received clearance to support production of medical equipment that is critical in the fight against Covid-19.
Cyient, a global engineering and technology solutions company, on Tuesday (31 March) announced that it has received clearance for its Mysore facility to run its MedTech manufacturing lines to support the production of medical equipment that is critical in the fight against COVID-19.The company is producing assemblies that are used in X-ray generators from GE Healthcare and diagnosis units from Molbio Diagnostics to enable rapid disease testing in India.
Cyient's factory in Mysore, India, is dedicated to electronic manufacturing processes, including printed circuit board assemblies, cable harnesses, and box-builds that closely align with our core competence in electronic systems design, integration, and manufacturing services.
Cyient's consolidated net profit rose 9.95% to Rs 108.30 crore on 4.57% decline in net sales to Rs 1,105.90 crore in Q3 December 2019 as against Q2 September 2019.
Cyient is engaged in providing software-enabled engineering and geographic information system (GIS) services.
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