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Morgan Stanley Overweight on Cyient after first order from Indian Army; stock up 5%

Morgan Stanley said this new order opened up new opportunities in ‘Make In India’ segment for the company.

September 05, 2018 / 12:01 PM IST
 
 
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Cyient share price rallied more than 5 percent intraday Wednesday after global investment firm Morgan Stanley said it is Overweight on the stock with target price at Rs 825 per share, implying 13 percent potential upside.

Cyient Solutions and Systems Private Limited, a joint venture between Cyient and Israel-based BlueBird Aero Systems has received first supply order from a unit of the Indian Army for SpyLite mini UAV systems for high altitude aerial surveillance.

Morgan Stanley said this new order opened up new opportunities in ‘Make In India’ segment for the company.

SpyLite is an advanced, combat-proven, electric, mini unmanned aerial system.

At 11:10 hours IST, the stock price was quoting at Rs 765.50, up Rs 35.25, or 4.83 percent on the BSE.

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Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Sep 5, 2018 11:25 am

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