{"id":103658,"date":"2023-06-01T13:41:54","date_gmt":"2023-06-01T08:11:54","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=103658"},"modified":"2023-06-01T15:17:52","modified_gmt":"2023-06-01T09:47:52","slug":"it-stock-jumps-up-to-9-after-board-announces-320-dividend-do-you-hold-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/it-stock-jumps-up-to-9-after-board-announces-320-dividend-do-you-hold-it\/","title":{"rendered":"IT Stock jumps up to 9% after board announces 320% dividend; Do you hold it?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3415910588\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of Cyient Limited started its trading session today at Rs 1,308.35 and currently trades at Rs 1,368. The scrip witnessed an intra-day high of Rs 1,408.80 indicating a gain of around 8.5 percent as compared to the previous closing levels of Rs 1,297.90.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-196913959\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>In the last six months, the stock has gained a considerable amount of about 60 percent ranging from Rs 862.10 to the current price levels. The <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/CYIENT\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Cyient Limited<\/a><\/strong> company has a market capitalization of Rs 15,122 crores.\u00a0<\/p><p>One of the prime causes for the stock prices to surge today is the recent corporate announcement made by the company yesterday.&nbsp;<\/p><p>The announcement was made through a regulatory filing over the BSE which mentioned about the company\u2019s Board of Directors recommending a Final dividend of Rs 16 per equity share, equating to 320 percent of its Face Value of Rs 5. Payment of the same is subject to shareholder approval. The Record Date is fixed to be 12th June 2023.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-2526253861\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The latest financial reports for FY22-23 exhibit an operating revenue of Rs 6,016 crores as compared to Rs 4,534 crores in the previous financial year. <\/p><p>Moreover, the company\u2019s net profits were reported at Rs 514 crores during FY22-23 and Rs 522 crores in FY21-22.\u00a0<\/p><p>Cyient Limited is engaged in the business of providing a variety of Information Technology (IT), as well as Engineering services. The industries served by the company are energy &amp; utilities, communications, medical &amp; healthcare, etc. <\/p><p>The majority of the revenue generated comes from the \u2018American\u2019 segment.\u00a0<\/p><p>According to the latest shareholding data available for the March 2023 quarter, Promoters of the company hold a 23.36 percent stake, and Foreign Institutional Investors (FIIs) hold a 32.61 percent stake in the company.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Amit Madnani<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-1495519849\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-650795616\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of Cyient Limited started its trading session today at Rs 1,308.35 and currently trades at Rs 1,368. The scrip witnessed an intra-day high of Rs 1,408.80 indicating a gain of around 8.5 percent as compared to the previous closing levels of Rs 1,297.90.&nbsp; In the last six months, the stock has gained a considerable [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":24849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[8750,8751,8752,3443,58,5593,3025,3387,4447,5426,8797,936,3153,3245,5581],"class_list":["post-103658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-cyient-latest-news","tag-cyient-q4-results","tag-cyient-results-2023","tag-dividend-declared","tag-dividend-stocks","tag-dividend-stocks-to-buy-in-2023","tag-dividends","tag-it-stock-to-buy","tag-it-stock-to-watch","tag-it-stocks-2023","tag-latest-stock-market-news","tag-stock-market-news","tag-stock-to-buy","tag-top-stock-picks","tag-top-stocks-of-2023"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IT Stock jumps up to 9% after board announces 320% dividend; Do you hold it? - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of Cyient Limited started its trading session today at Rs 1,308.35 and currently trades at Rs 1,368. 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