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Buy Cyient; target of Rs 825: ICICI Direct

ICICI Direct is bullish on Cyient has recommended buy rating on the stock with a target price of Rs 825 in its research report dated April 23, 2021.

June 09, 2021 / 06:26 PM IST
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ICICI Direct's research report on Cyient

Cyient reported a healthy set of Q4FY21 numbers. Overall revenues increased 6.0% QoQ to US$149.9 million mainly led by 3.7% QoQ (2.5% QoQ organic growth) growth in services revenues to US$119.6 million and 16.4% QoQ growth in DLM revenues to US$30.3 million. The growth in services revenues was due to 2.9% QoQ growth in transportation, 2.5% QoQ growth in communication and utility segment. Overall EBIT margin increased 148 bps QoQ to 12.6% mainly led by 233 bps QoQ growth in services margins (at 13.6%). The company has declared a dividend of Rs 17 per share.


Hence, we maintain BUY with a revised target price of Rs 825 (16x P/E on FY23E EPS) (earlier target price Rs 690/share).

For all recommendations report, click here

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

Broker Research
first published: May 10, 2021 02:08 pm

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