Buy Cyient, target Rs 550: Jay Thakkar

Jay Thakkar of Anand Rathi has a buy call on Cyient with a target price of Rs 550.

The current market price of Cyient is Rs 508.25.

Time period given by the analyst is intraday when Cyient price can reach defined target.

Jay Thakkar recommended to keep a stop loss at Rs 495.

Cyient, incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 5,721.51 Crore) operating in Information Technology sector.

Cyient key Products/Revenue Segments include Software Development Charges which contributed Rs 1,292 Crore to Sales Value (100 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Consolidated sales of Rs 903.40 Crore, down 3.27 per cent from last quarter Sales of Rs 933.90 Crore and up 8.77 per cent from last year same quarter Sales of Rs 830.57 Crore.

Company has reported net profit after tax of Rs 82.60 Crore in latest quarter.

The company’s top management includes Mr.Alain De Taeye, Mr.B V R Mohan Reddy, Mr.John Paterson, Mr.K Ramachandran, Mr.Krishna Bodanapu, Mr.M M Murugappan, Mr.Som Mittal, Mr.Vinai Thummalapally, Mrs.Andrea Bierce.

Company has Deloitte Haskins & Sells as its auditors.

As on 31-03-2017, the company has a total of 112,566,340 shares outstanding.