India's Cyient gains as brokerages see margin, growth comfort after analyst day

Cyient

11/12/2023 05:31

** Shares of Cyient  CYIE.NS  rise as much as 2.93%, most
intraday pct gain in a week, to 2,006.95 rupees 
    ** Global engineering and technology solutions provider says
it aims to increase its earnings before interest and taxes
(EBIT) margins to 18% from the current 16.5%, in a analyst meet
    ** Kotak Institutional Equities reiterates "buy" and raises
PT to 2,200 rupees from 2,000 rupees, citing multiple levers to
improve profitability    
    ** Says execution efficiency, strategic partnerships with
key clients like Boeing to provide comfort on medium-term growth
   
    ** Motilal Oswal reiterates "buy" at a PT of 2,250 rupees,
citing attractive valuations and growth momentum
    ** Average rating of 15 analysts tracking CYIE is equivalent
of "Buy" - LSEG data
    ** Including day's gains, stock up 145% in 2023 so far 
    ** CYIE also among top gainers in small-cap index
 .NIFSMCP100 , which is up 49.15% in 2023

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))