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    HomeNewsBusinessStocksBuy Cyient; target of Rs 684: Kotak Securities

    Buy Cyient; target of Rs 684: Kotak Securities

    Kotak Securities is bullish on Cyient has recommended buy rating on the stock with a target price of Rs 684 in its research report dated April 26, 2019.

    Broker Research
    April 29, 2019 / 14:17 IST

    Kotak Securities' research report on Cyient

    Cyient Q4FY19 revenue de-grew by 0.3% QoQ in CC terms to USD 165.2 mn below our estimate. However, in FY19 revenue grew 10.1% YoY to US$660 mn in CC terms. In Q4FY19, Services revenue stood at $ 146.9 mn; growth of 1.7% QoQ (1.4% in CC), 2.9% YoY. On a consolidated basis, operating margin improved by 33 bps QoQ to 15.1% in Q4FY19.

    Outlook

    We maintain BUY on Cyient with a revised target price of Rs. 684 (earlier Rs.719).

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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    Broker Research
    first published: Apr 29, 2019 02:17 pm

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