Shares of Cyient gained 2 percent in early trade on March 28 after the company announced partnership with a German original equipment manufacturer.
At 9:20am, Cyient was quoting Rs 1,981.30, up Rs 40.50, or 2.09 percent, on the BSE.
"The company has entered into a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer (OEM) located in Weßling, close to Munich," it said in exchange filing.
The two sides will collaborate on the detailed design for manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft, it added.
“We are excited about our collaboration with Deutsche Aircraft to support the development of the D328eco aircraft. This partnership underscores Cyient's commitment to delivering innovative engineering solutions in the aerospace sector,” said Karthikeyan Natarajan, executive director and CEO of Cyient.
"Our expertise in aircraft design and development lifecycle will play a crucial role in developing the D328eco. Together, we look forward to driving advancements in aviation technology and contributing to the success of this transformative project,” he said.
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On March 20, Infotech HAL Limited, Bangalore (a 50:50 joint venture of Cyient Limited with HAL) has filed application to initiate corporate insolvency resolution process before the National Company Law Tribunal, Bangalore Bench.
On March 13, Cyient signed a multiyear services agreement with Airbus for Cabin and Cargo Engineering.
Cyient has been selected by Airbus for the development of a part of its cabin ‘Intelligent Core Management Platform’ (iCMP). These systems focus on enabling faster software updates, easy and rapid customisation, and proliferation of digital services in Cabin.
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