India's Cyient rises on plan to set up semiconductor unit

Cyient

12/07/2024 08:04

** Shares of technology solutions provider Cyient  CYIE.NS 
rise as much as 7.4% at 1,905 rupees
    ** CYIE on Thursday said it approved setting up separate
unit for end to end turnkey ASIC semiconductor business
    ** More than 1 mln shares change hands, 2.6x the 30-day avg
    ** Average analyst rating on stock is "Buy"; median PT at
2,210 rupees, a 16% premium to day's high - LSEG data
    ** Stock last up 4.2%, set to snap 4 straight weeks of
losses

 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com;))