Cyient Ltd Shares Hit New High at Rs 1507.70
– Cyient Ltd, an IT company, hit a new 52-week high of Rs 1507.70 on June 2.
– This is the third consecutive day of the company’s shares seeing an increase since the announcement of the final dividend.
– As of Wednesday, June 7, the shares were trading at Rs 1374.05, up by almost 2% on NSE.
– In the past year, the stock has seen a growth of almost 64.41%, while BSE Sensex has only increased by 2.5%.
– The stock has given a return of almost 67% since the beginning of this year and has seen a rise of 13.13% in the last month.
– Cyient Ltd has estimated a revenue growth of 15-20% for the current financial year’s fourth quarter.
– Out of the 18 analysts covering the company’s shares, 11 have given a “Buy” rating and 7 have given a “Hold” rating.
– Cyient Ltd is an engineering research and development (ER&D) company that has seen a rally of 60-80% this year along with other ER&D companies like KPIT Technologies.
– The company’s business is not likely to be affected by the economic ups and downs and the fear of recession as compared to traditional IT companies like TCS and Infosys.
Why Is Cyient’s Stock Seeing A Rise?
According to experts, Cyient Ltd is an engineering research and development (ER&D) company that is different from traditional IT companies. ER&D companies are less likely to be affected by economic ups and downs and the fear of recession. This is the reason why such companies have seen a rally of 60-80% this year. Cyient Ltd has also given a strong return of almost 67% since the beginning of this year and has seen a rise of 13.13% in the last month. Additionally, the company has estimated a revenue growth of 15-20% for the current financial year’s fourth quarter which has further boosted investors’ confidence.
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