Cyient extends rally on strong Q4 results; stock zooms 52% so far in CY23

Shares of Cyient hit a new high of Rs 1,230, as they rallied 6 per cent on the BSE in Monday’s intra-day trade in an otherwise subdued market after the IT firm reported strong March quarter (Q4FY23) earnings. In comparison, the S&P BSE Sensex was flat or up 0.01 per cent at 59,656 at 10:08 AM.

Thus far in the calendar year 2023 (CY23), the stock price of Cyient has zoomed 52 per cent, as against 2.4 per cent decline in the benchmark index.

Cyient offers engineering & development services to aerospace & defence, transportation, E&U, communication and others. For Q4FY23, the company’s consolidated revenue from operations rose 48.3 per cent year-on-year (YoY) and 8.2 per cent quarter-on-quarter (QoQ) to Rs 1,751 crore, aided by a strong services deal pipeline.