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Buy Cyient; target of Rs 1200: ICICI Direct

ICICI Direct is bullish on Cyient recommended buy rating on the stock with a target price of Rs 1200 in its research report dated January 24, 2022.

January 31, 2022 / 12:15 PM IST
 
 
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ICICI Direct's research report on Cyient


Cyient Ltd (Cyient) offers engineering & development services to aerospace & defence, transportation, E&U, communication and others. Cyient has 300 customers across 14 countries • Net debt free and healthy cash flow with OCF/EBITDA ~80%.


Outlook


We continue to remain positive and retain our BUY rating on the stock. We value Cyient at Rs 1,200 i.e. 18x P/E on FY24E EPS.

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At 17:30 Cyient was quoting at Rs 916.60, up Rs 7.15, or 0.79 percent.

It has touched an intraday high of Rs 948.00 and an intraday low of Rs 911.90.

It was trading with volumes of 21,192 shares, compared to its thirty day average of 22,755 shares, a decrease of -6.87 percent.

In the previous trading session, the share closed down 2.33 percent or Rs 21.70 at Rs 909.45.

The share touched its 52-week high Rs 1,292.00 and 52-week low Rs 583.80 on 19 October, 2021 and 28 January, 2021, respectively.

Currently, it is trading 29.37 percent below its 52-week high and 56.31 percent above its 52-week low.

Market capitalisation stands at Rs 10,108.42 crore.

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first published: Jan 31, 2022 12:15 pm
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