Buy Cyient, target price Rs 660: Motilal Oswal

Motilal Oswal has buy call on Cyient with a target price of Rs 660. The current market price of Cyient is Rs 620.95.
Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 6855.61 Crore) operating in IT Software sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1066.20 Crore, up 5.29 % from last quarter Total Income of Rs 1012.60 Crore and down -7.74 % from last year same quarter Total Income of Rs 1155.70 Crore. Company reported net profit after tax of Rs 95.40 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 22.9 per cent stake in the company as of June 30, 2020, while FIIs held 42.2 per cent, DIIs 22.1 and public and others 12.9 per cent.