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Cyient partners Hitachi Rail for signalling project but share price falls 2.5%

The agreement will help to accelerate the evolution of its signaling technology and expand and enhance its project execution capacity.

April 03, 2020 / 12:00 PM IST
 
 
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Cyient share price declined 2.5 percent intraday on April 3 even after the company announced an agreement with Hitachi Rail for a series of project engineering services.

The agreement will help to accelerate the evolution of its signalling technology and expand and enhance its project execution capacity, it said.

"This agreement is a reflection of Cyient’s credibility in building global partnerships in safety critical industries such as rail transportation and is a testimony to the value and competitiveness we bring to our customers," Cyient CEO and MD Krishna Bodanapu said.

Cyient will develop and operate a central delivery centre for Hitachi Rail in India, and a regional centre in the US. These centres will be responsible for delivering engineering services for Hitachi’s global signalling projects that use proprietary interlocking platforms.

It will also provide software development and configuration support for Hitachi’s ATS product.

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At 1131 hrs Cyient was quoting at Rs 229.20, down Rs 3.50, or 1.50 percent, on the BSE.

 
Moneycontrol News
first published: Apr 3, 2020 12:00 pm

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