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    Buy Cyient, target price Rs 1205: ICICI Direct

    Synopsis

    Cyient Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2020.

    cyient
    Promoters held 23.5 per cent stake in the company as of March 31, 2021, while FIIs held 38.5 per cent, DIIs 21.2 per cent and public and others 16.8 per cent.
    ICICI Direct has buy call on Cyient with a target price of Rs 1205. The current market price of Cyient Ltd. is Rs 1037.4 Time period given by analyst is 14 days when Cyient price can reach defined target.

    Cyient Ltd., incorporated in the year 1991, is a Mid Cap company (having a market cap of Rs 11414.17 Crore) operating in IT Software sector.

    Cyient Ltd. key Products/Revenue Segments include Software Development Charges for the year ending 31-Mar-2020.

    Financials
    For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1083.90 Crore, down -4.37 % from last quarter Total Income of Rs 1133.40 Crore and up 2.25 % from last year same quarter Total Income of Rs 1060.10 Crore. Company reported net profit after tax of Rs 115.00 Crore in latest quarter.

    Investment Rationale
    The brokerage expects the stock to maintain positive bias and head higher towards the target of Rs 1205 levels in the coming week as it is the measuring implication of the last two months range breakout (Rs 1067-905) as projected from the recent breakout area of Rs 1067 signals upside towards Rs 1229 in the coming weeks

    Promoter/FII Holdings
    Promoters held 23.5 per cent stake in the company as of March 31, 2021, while FIIs held 38.5 per cent, DIIs 21.2 per cent and public and others 16.8 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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