Moneycontrol
Feb 16, 2017 11:30 AM IST | Source: Moneycontrol.com

Cyient rises 2% on joint go-to-market agreement with Italian co

"Italian company ASE S.p.A and Cyient Inc, on February 15, announced a joint go-to-market agreement for joine market development of products in electric power generation arena," the company said in its filing.

 
 
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Moneycontrol Bureau


IT firm Cyient shares gained 2 percent intraday Thursday after its subsidiary signed a joint go-to-market agreement with Italian company during Aero India seminar.


"Italian company ASE S.p.A and Cyient Inc, on February 15, announced a joint go-to-market agreement for joine market development of products in electric power generation arena," the company said in its filing.


This collaboration will provide full life-cycle services, products and systems to aerospace and defence industry.


"It enables both Cyient and ASE to leverage each other's engineering and manufacturing capabilities, thus increasing support to original equipment manufacturers and improving life service offerings to existing and future clients," Krishna Bodanapu, MD & CEO said.


ASE supplies electrical power generation and distribution systems to international aerospace and defence industry.

At 11:14 hours IST, the stock was quoting at Rs 472.30, up Rs 6.25, or 1.34 percent on the BSE.

Posted by Sunil Shankar Matkar

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