Neutral on Cyient, target price Rs 400: Motilal Oswal

Motilal Oswal has neutral call on Cyient with a target price of Rs 400. The current market price of Cyient Ltd. is Rs 517.95.

Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 5638.22 Crore) operating in IT Software sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1003.30 Crore, up 1.17 % from last quarter Sales of Rs 991.70 Crore and down -13.43 % from last year same quarter Sales of Rs 1158.90 Crore Company reported net profit after tax of Rs 83.90 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.