India's Cyient gains on Q2 earnings beat

Cyient

25/10/2024 07:49

** Shares of Cyient  CYIE.NS  rise as much as 6.9% to 1,900
rupees; set for best one day pct-gain since July 12, if trend 
holds
    ** Stock among top gainers on Nifty smallcap 50 index
 .NISM50 , which is down 1.7%
    ** Technology solutions provider posted a profit of 1.79 bln
rupees ($21 mln), beating analysts' estimate of 1.64 bln rupees,
as per data compiled by LSEG
    ** Rev at 18.49 bln rupees, beating estimate of 16.63 bln
rupees
    ** More than 1.5 mln shares change hands, 5.3x its 30-day
avg
    ** Eighteen analysts covering the stock on avg have a "buy"
rating; median PT is 1,990 rupees - LSEG data
    ** Stock down 20% YTD vs a 21% rise in .NISM50



($1 = 84.0670 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))