Metropolis Healthcare, Alembic Pharma and Tejas Networks are the other 3 stocks to witness a 'Death Cross' on the chart in recent days; technically this is a negative development for these stocks.
Chart shows that stocks like Cyient, Rajesh Exports, Mahindra Life, SW Solar and Gujarat Pipavav have tumbled up to 81 per cent from the highs in around last two years; Bias remains negative.
Cyient's profit fell 31.7 per cent quarter-on-quarter (Q-o-Q) to Rs 122.3 crore in Q3FY25, from 179.1 crore in the September quarter of financial year 2025 (Q2FY25)
Its profit declined to Rs 122 crore ($14.12 million) for the three months ended Dec. 31, from Rs 147 crore a year ago
On the other hand, Cyient, CAMS, Hero MotoCorp, ICICI General Insurance, Jio Financial Services witness short build-up in trades on Monday.
The acquisition is part of the company's strategic expansion of its semiconductor business. In July last year, the company announced the establishment of a fully owned subsidiary
The rise in the Cyient share price came after the company announced that it has incorporated Cyient Semiconductors Private Limited as a wholly owned subsidiary of the company.
At 09:15 am, as many as 11.87 million equity shares, representing 14.96 per cent of total equity of Cyient DLM, changed hands on the BSE
The uptick in stock price came after the company announced the strategic expansion of its semiconductor business with the establishment of a fully owned subsidiary
The company's digital, engineering and technology segment accounted for 80% of its overall revenue
The Hyderabad-headquartered company's consolidated net profit dropped 2% to 1.53 billion rupees ($18.42 million) for the quarter ended Dec. 31
IT engineering cos provide product engineering services in auto, aerospace, medical device, and utility sectors. On the other hand, software engineering firms are mostly engaged in software products
The revenue from operations for Q2FY24 came in at Rs 1778.5 crore, compared to Rs 1396.2 crore year-on-year
Among individual stocks, Morgan Stanley has maintained their overweight rating on HCLT, LTIMindtree and Infosys within the large-caps.
Cyient DLM's key clients include Honeywell International, ABB, and Bharat Electronics
Most of these offers are coming right now because their regulatory deadlines, to bring the IPOs, are about to lapse, cautioned analysts
The Initial Public Offer (IPO) of electronic manufacturing services firm Cyient DLM got subscribed 67.30 times on the last day of subscription on Friday amid an overwhelming interest from investors. The share sale got bids for 89,73,16,952 shares against 1,33,32,297 shares on offer, according to an update available with NSE. The quota for Qualified Institutional Buyers (QIBs) received 90.44 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 49.20 times. The portion for non-institutional investors got subscribed 45.05 times. The IPO had a fresh issue aggregating up to Rs 592 crore. There was no offer-for-sale (OFS) component. The company's IPO had a price band of Rs 250-265 a share. Cyient DLM had mobilised Rs 260 crore from anchor investors. Funds raised through the IPO would be utilised for funding incremental capital requirements, capital expenditure, debt payment, achieving inorganic growth through acquisitions as well as general corpo
The recent stock run-up largely captures growth momentum; expensive valuation limits upside, analysts at ICICI Securities said.
Overall, from a macro standpoint, the business outlook remained strong with no material impact on the BUs, except for few sub-segments, analysts said.
Shares of Cyient on Wednesday jumped 5 per cent in the mid-session trade after the IT company rejigged its top management. The stock of the firm zoomed 5.07 per cent in the mid-session trade at Rs 1,045 apiece on the BSE. During the intra-day trade, the stock touched its 52-week high of Rs 1,049.80 per share. On the NSE, it climbed 4.97 per cent to Rs 1,044.15 per piece. In the mid-session trade, the 30-share BSE Sensex is trading 522.92 points or 0.88 per cent higher at 59,626.22 points. On Monday, IT company Cyient said that it has rejigged top management roles with the elevation of its managing director and CEO Krishna Bodanapu to the position of executive vice-chairman and MD.