Buy Cyient, target price Rs 1030: HDFC Securities

Cyient Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2022.

By ETMarkets.com | Updated: Mar 29, 2023, 10.39 AM IST

Promoters held 23.36 per cent stake in the company as of 31-Dec-2022, while FIIs owned 31.07 per cent, DIIs 24.92 per cent.

HDFC Securities has buy call on Cyient with a target price of Rs 1030. The current market price of Cyient Ltd. is Rs 961.9.

Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 10817.57 Crore) operating in IT Software sector.

Cyient Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company reported a Consolidated Total Income of Rs 1645.70 Crore, up 16.23 % from last quarter Total Income of Rs 1415.90 Crore and up 36.52 % from last year same quarter Total Income of Rs 1205.50 Crore. Company reported net profit after tax of Rs 156.00 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 23.36 per cent stake in the company as of 31-Dec-2022, while FIIs owned 31.07 per cent, DIIs 24.92 per cent.

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