Cyient Share Price: Shares of IT company Cyant Limited fell 19.99 percent to 52-week low of Rs 1402.25 per share on BSE on Friday. This fall in the company’s shares has come after releasing the third quarter results. The company’s profit fell 31.7 percent quarter-on-quarter to Rs 122.3 crore in the December quarter. It was Rs 179 crore in the September quarter. However, the company’s revenue has increased and it increased by 4.2% to Rs 1,926 crore in the third quarter. After weak results in the third quarter, brokerage companies have changed their strategy on IT firms.
Cyient Limited: Sell, Buy or Hold
Brokerage firm Motilal Oswal has downgraded its rating on Cyant Limited to ‘SELL’. The brokerage has also reduced the target price on the stock to Rs 1350. This is 23% less than Thursday’s closing price. Shares of Cyant Limited closed at Rs 1753 per share on Thursday (January 23).
The brokerage said that due to weak performance in the fourth quarter and first half, we have downgraded the rating on the stock to SELL. Weak 1H could lead to lower revenue growth for FY26E. Margins may also be similarly affected. We have cut our estimates for FY25E/FY26E/FY27E by 13%.
Brokerage firm Nuvama has maintained the rating on Cyant Limited at ‘HOLD’. However, the target price has been reduced to Rs 1660. Earlier it was Rs 1700. The brokerage says Cyient management started FY25 with high single digit growth. This has now turned into a decline of 2.7%. We remain negative on Cyient even though cheap valuations limit downside potential
Brokerage Firm Antique Broking has maintained its rating on Cyant Limited at ‘BUY’. However, the brokerage has reduced its target price on the stock to Rs 1950 from Rs 2300 earlier. In this way, the stock may show an upside of 12% in the long term from Thursday’s closing price. According to the brokerage, the gloomy outlook and resignation of the CEO may impact the stock’s performance.
Cyient Limited Share History
Shares of Cyant Ltd fell by Rs 343.80 or 19.61% to hit 52 week low of Rs 1409 in intraday trade on Friday (January 24). The stock has performed poorly in the last few months. It has fallen more than 25% in the last one month while the stock has fallen by 30.94% in the last one year. The 52 week high of the share is Rs 2,265 while the 52 week low is Rs 1398. The total market cap of the stock on BSE is Rs 15,564 crore.
Disclaimer: The advice to buy or sell shares here is given by the brokerage. Investing in the market is subject to risks. Consult your advisor before taking any investment decision.