Under the agreement, Cyient will provide project delivery and implementation services for EA Technologyâ€™s Asset Investment Management (AIM) software solution. EA Technology has expertise in electrical asset management in the global electric utility market.
Cyient operates in the underpenetrated ER&D outsourcing market and has long-term relationships with its top clients. Cyientâ€™s core businesses - aerospace and defence are expected to drive its revenues going forward. Additionally, acquisition of BlomAerofilms will help it gain higher service opportunities.
The company is expected to register ~12% US$ revenue CAGR over FY17-20E and currently trades at a P/E of 12.5x FY20E (as per Bloomberg estimates). We have a positive outlook on the stock.
The stock ended at Rs 591.2, up by Rs 7.65 or 1.31% from its previous closing of Rs 583.55 on the BSE.
The scrip opened at Rs 583 and touched a high and low of Rs 605.25 and Rs 577.2 respectively.
- Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
- Now Save Rs.3150 on your Demat Account ...Click here
- Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
- Get the most detailed result analysis on the web - Real Fast!
- Actionable & Award-Winning Research on 500 Listed Indian Companies.