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Buy Cyient; target of Rs 935: ICICI Direct

ICICI Direct is bullish on Cyient has recommended buy rating on the stock with a target price of Rs 935 in its research report dated July 24, 2022.

July 27, 2022 / 11:22 AM IST
"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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ICICI Direct's research report on Cyient

Cyient Ltd (Cyient) offers engineering & development services to aerospace & defence, transportation, E&U, communication and others. Cyient has 300 customers across 14 countries • Net debt free and healthy cash flow with OCF/EBITDA ~80%.

Outlook

We change our rating on the stock from HOLD to BUY. We value Cyient at Rs 935 i.e. 17x P/E on FY24E EPS.

More Info

At 11:20 hrs Cyient was quoting at Rs 784.85, down Rs 5.80, or 0.73 percent.

It has touched an intraday high of Rs 793.45 and an intraday low of Rs 782.65.

It was trading with volumes of 1,635 shares, compared to its thirty day average of 12,259 shares, a decrease of -86.66 percent.

In the previous trading session, the share closed up 1.56 percent or Rs 12.15 at Rs 790.65.

The share touched its 52-week high Rs 1,292.00 and 52-week low Rs 725.65 on 19 October, 2021 and 07 July, 2022, respectively.

Currently, it is trading 39.25 percent below its 52-week high and 8.16 percent above its 52-week low.


Market capitalisation stands at Rs 8,661.13 crore.For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Cyient - 250722 -icici

Broker Research
first published: Jul 26, 2022 02:05 pm

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