{"id":131628,"date":"2024-08-21T15:17:12","date_gmt":"2024-08-21T09:47:12","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=131628"},"modified":"2024-08-21T15:19:58","modified_gmt":"2024-08-21T09:49:58","slug":"it-stock-jumps-6-after-it-sells-14-5-stake-in-subsidiary-to-strengthen-its-semiconductor-business","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/it-stock-jumps-6-after-it-sells-14-5-stake-in-subsidiary-to-strengthen-its-semiconductor-business\/","title":{"rendered":"IT stock jumps 6% after it sells 14.5% stake in subsidiary to strengthen its semiconductor business\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2915750267\"><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>IT engaged in the business of providing global technology services and solutions jumped upto 6 percent in the day\u2019s trade following a stake sale in its subsidiary to strengthen its semiconductor business.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3740376453\"><!-- 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><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Price Action&nbsp;<\/strong><\/h2><p>With a market capitalization of Rs. 22,244 Crores, the shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/CYIENT\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Cyient Limited<\/a><\/strong> were trading at Rs. 2,005.40 per equity share, up 4 percent from its previous day\u2019s close price of Rs. 1,934.05. It has delivered a return of 30 percent in a year.\u00a0<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>What Happened&nbsp;<\/strong><\/h2><p>The Board of Directors of Cyient Limited has considered and approved the sale of upto ~1.15 Crore equity shares or 14.50 percent stake of its shareholding in its subsidiary <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/CYIENTDLM\/standalone\" target=\"_blank\" rel=\"noreferrer noopener\">Cyient DLM Limited<\/a><\/strong> through the block deal window.\u00a0<\/p><p>The expected date for completion of the sale\/ closing is 21st Aug 2024 or such date as mutually agreed between the Company and the buyer. As per sources the deal is said to be valued at Rs 860.9 Crores and will have a floor price of Rs 748.65 per share.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3712660793\"><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>As of Q1FY25, Cyient Limited holds a 66.66 percent stake in Cyient DLM Limited, and post the stake sale of 14.50 percent, it currently holds a 52.16 percent stake in it.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also read<\/strong><\/p><\/blockquote><figure class=\"wp-block-embed is-type-wp-embed is-provider-trade-brains wp-block-embed-trade-brains\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"E2C7BOYHel\"><a href=\"https:\/\/tradebrains.in\/features\/nuclear-stock-jumps-9-after-company-aims-15-share-of-bpcls-1-7-lakh-cr-expansion-plan\/\">Nuclear stock jumps 9% after company aims 15% share of BPCL&#8217;s \u20b9 1.7 Lakh Cr expansion plan<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Nuclear stock jumps 9% after company aims 15% share of BPCL&#8217;s \u20b9 1.7 Lakh Cr expansion plan&#8221; &#8212; Trade Brains\" src=\"https:\/\/tradebrains.in\/features\/nuclear-stock-jumps-9-after-company-aims-15-share-of-bpcls-1-7-lakh-cr-expansion-plan\/embed\/#?secret=n4jGutRzQf#?secret=E2C7BOYHel\" data-secret=\"E2C7BOYHel\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Proceeds Utilization&nbsp;<\/strong><\/h2><p>The capital proceeds arising from the stake sale will be used for the Company\u2019s capital requirements, including but not limited to key investments in our recently announced Semiconductor business to support its growth, various organic and inorganic investments, and retirement of debts of the Company.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Strengthing Semiconductor Business&nbsp;<\/strong><\/h2><p>In addition Cyient Limited announced that it has established a fully-owned subsidiary for the strategic expansion of its Semiconductor business, thereby Strengthening its decades of Turnkey Application Specific Integrated Circuits (ASIC) expertise by delivering world-class specialized turnkey ASIC design and chip sales.<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>About the Company&nbsp;<\/strong><\/h2><p>Cyient Limited is engaged in the business of providing global technology services and solutions, specializing in geospatial, information technology solutions, engineering design, data analytics, and many more.&nbsp;<\/p><h2 class=\"wp-block-heading has-medium-font-size\"><strong>Financials and Ratios&nbsp;<\/strong><\/h2><p>Its Revenue from operations declined by 0.64 percent from Rs. 1,686 Crores in Q1FY24 to Rs. 1,676 Crores in Q1FY25, accompanied by profits of Rs. 169 Crores to Rs. 148 Crores.&nbsp;<\/p><p>In terms of Return ratios, it has reported a return on equity (ROE) of 18.8 percent, and a return on capital employed (ROCE) of 21.9 percent. It has reported a debt-to-equity ratio of 0.18.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-391778449\"><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><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Bharath K.S<\/strong><\/p><\/blockquote><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Also read<\/strong><\/p><\/blockquote><figure class=\"wp-block-embed is-type-wp-embed is-provider-trade-brains wp-block-embed-trade-brains\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"TQ5IN9L5bX\"><a href=\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-5-after-receiving-pli-of-18-for-its-ev-and-auto-components\/\">EV stock jumps 5% after receiving PLI of 18%\u00a0for its EV and auto components<\/a><\/blockquote><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;EV stock jumps 5% after receiving PLI of 18%\u00a0for its EV and auto components&#8221; &#8212; Trade Brains\" src=\"https:\/\/tradebrains.in\/features\/ev-stock-jumps-5-after-receiving-pli-of-18-for-its-ev-and-auto-components\/embed\/#?secret=dQzr62wvkg#?secret=TQ5IN9L5bX\" data-secret=\"TQ5IN9L5bX\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure><p><strong>Disclaimer<\/strong><\/p><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/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-after-content\" id=\"trade-2620222026\"><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>IT engaged in the business of providing global technology services and solutions jumped upto 6 percent in the day\u2019s trade following a stake sale in its subsidiary to strengthen its semiconductor business.&nbsp; Price Action&nbsp; With a market capitalization of Rs. 22,244 Crores, the shares of Cyient Limited were trading at Rs. 2,005.40 per equity share, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":119107,"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":[8750,21755,8749,948,936],"class_list":["post-131628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-cyient-latest-news","tag-cyient-sells-stake-in-cyient-dlm","tag-cyient-share-price","tag-stock-market","tag-stock-market-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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