Cyient stock gains on alliance with EA Technology

India Infoline News Service | Mumbai | December 07, 2017 17:17 IST

The alliance is expected to provide asset management and decision support solutions and services for electric utilities.

Cyient
Cyient and EA Technology plan to pursue opportunities worldwide by leveraging their complementary skills and technical capabilities, particularly for electric utilities.

Under the agreement, Cyient will provide project delivery and implementation services for EA Technology’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. Cyient’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.


***Note: This is a NSE Chart

 

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