India's Cyient rallies to 13-month high on income growth, Emkay upgrade

Cyient

Today 05:44

** Engineering solutions provider Cyient Limited's CYIE.NS  shares rise as much as 10.6% to 1,265 rupees, their highest level since Sept 2025 
** Q2 total income rises 22.5% YoY; net profit drops 4.8%
** Declares dividend of 12 rupees/shr
** Co approves acquisition of remaining 49% stake in subsidiary Cyient Solutions and Systems
** Emkay Global upgrades rating to "Add" from "Reduce" and TP to 1,300 rupees from 1,000 rupees
** Brokerage cites an expected recovery in CYIE's core engineering and technology services business, higher valuation for its listed electronics manufacturing unit Cyient DLM, and strong growth prospects in semiconductors
** Stock trades at forward 12 months PE of 17.76 vs industry median of 20.50
** 11 of 18 brokerages rate the stock "buy" or higher, 4 "hold" and 3 "sell" or lower; median PT is 1,125 rupees
** YTD, CYIE up 11.5%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.Parmar@thomsonreuters.com;))