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Cyient share price rises nearly 7% on clearance to produce medical equipment for COVID-19

The company is producing assemblies that are used in X-ray generators from GE Healthcare and diagnosis units from Molbio Diagnostics to enable rapid disease testing in India
Mar 31, 2020 / 02:42 PM IST
 
 
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Cyient share price rose nearly 7 percent intraday on March 31 after the company received clearance to produce medical equipment that is critical in the fight against COVID-19.

The company has received clearance for its Mysore facility to run its MedTech manufacturing lines to support the production of medical equipment that is critical in the fight against COVID-19, company said in a press release.

The company is producing assemblies that are used in X-ray generators from GE Healthcare and diagnosis units from Molbio Diagnostics to enable rapid disease testing in India, it added.

Cyient’s factory in Mysore, India, is dedicated to electronic manufacturing processes, including printed circuit board assemblies, cable harnesses, and box-builds that closely align with its core competence in electronic systems design, integration, and manufacturing services.

“We are proud to support our customers in the healthcare industry at this critical time. We will continue to do everything we can to help reduce the impact of this crisis on our customers’ operations as they focus on delivering the technology needed to fight Covid-19 at a national and global level,” said Rajendra Velagapudi, Senior Vice President and CEO, Cyient DLM.

At 14:19 hrs, Cyient was quoting at Rs 228.90, up Rs 11.35, or 5.22 percent on the BSE.
Moneycontrol News
first published: Mar 31, 2020 02:42 pm

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