Cyient rallies over 14%, hits 52-week high post Q2 results

NEW DELHI: Cyient Ltd rallied as much as 14.2 per cent in trade on Thursday to hit its fresh 52-week high of Rs 512.20, after the IT firm, formerly known as Infotech Enterprises, posted a 24.4 per cent jump in net profit at Rs 90.1 crore on the back of broad based growth across segments.

At 09:25 a.m.; Cyient was trading 9.6 per cent higher at Rs 491.55. It hit a low of Rs 468.20 and a 52-week high of Rs 512.20 in trade today.

The Hyderabad-based company had reported a net profit of Rs 72.5 crore in the July-September 2013 quarter.

Cyient saw its revenues growing 22.4 per cent to Rs 672.39 crore in the said quarter from Rs 549.28 crore in the second quarter of FY'2013-14.

Cyient has also signed a definitive agreement to acquire a majority stake in Invati Insights, a start-up data sciences company, PTI reported.