IT stock jumps 7% after setting up a subsidiary to expand its semiconductor business – Trade Brains

by | Jul 12, 2024 | 12:33 pm | News, Trending News | 0 comments
follow-on-google-news
IT stock engaged in the business of providing global technology services and solutions jumped 7 percent in the day’s trade upon setting up a subsidiary for strategic expansion of its Semiconductor business 
With a market capitalization of Rs. 20,486 Crores, the shares of Cyient Limited were trading at Rs. 1,847.05 per equity share, up 4 percent from its previous day’s close price of Rs. 1,775.70. 
Cyient Limited has announced that it has established a fully-owned subsidiary for the strategic expansion of its Semiconductor business, thereby Strengthening its decades of Turnkey Application Specific Integrated Circuits (ASIC) expertise. 
Note: If you want to learn Candlesticks and Chart Trading from Scratch, here’s the best book available on Amazon! Get the book now!
The new subsidiary will strengthen its position in the industry by delivering world-class specialized turnkey ASIC design and chip sales under focused and capable leadership, adapting to market cycles, and more effectively addressing this industry’s technology and capital requirements. 
Mr. Krishna Bodanapu, Vice Chairman & Managing Director of Cyient Limited, said, “We are happy to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. 
As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry’s growth to USD 100 billion by 2030, we are well positioned to capitalize on the vast opportunities for growth and influence in this evolving market.” 
Further “Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips. This subsidiary ushers a new avenue of possibilities for Cyient to enhance value to our stakeholders and we are grateful for their continued support in this journey,”
Cyient Limited is engaged in the business of providing global technology services and solutions, specializing in geospatial, information technology solutions, engineering design, data analytics, and many more. 
Its revenue from operations grew by 18.81 percent from Rs. 6,016 Crores in FY23 to Rs. 7,147 Crores in FY24, accompanied by profits of Rs. 514 Crores to Rs. 703 Crores 
In terms of Return ratios, it has reported a return on equity(ROE) of 18.8 percent and a return on capital employed (ROCE) of 21.9 percent. It has reported a debt-to-equity ratio of 0.18. 
Written by: Bharath K.S
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
Your email address will not be published. Required fields are marked *






SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729
Disclaimer: “Investments in securities are subject to market risks. Read all the related documents carefully before investing.”
Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner.
Compliance Email: [email protected]
Recognized by:
startup india
Reach us out at
For Advertisement, Press Releases, Partnerships or to get backlinks on this website, please e-mail us at [email protected]
Trade Brains Portal Google playstore
Trade Brains Portal Appstore
India’s No 1 Stock learning Platform

source

Facebook Comments Box

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *