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Cyient shares will be in focus on Wednesday after the IT solutions provider announced the launch of a wholly owned subsidiary, Cyient Semiconductors, marking its formal entry into the semiconductor space.Leveraging its long-standing expertise in semiconductor design, the new unit will focus on scaling Application-Specific Integrated Circuit (ASIC) turnkey solutions for global clients, the company said.Cyient has been delivering ASIC turnkey solutions and semiconductor design services for over 25 years, catering to industrial, data centre, automotive, and medical applications.
The company said Cyient Semiconductors has built high-performance teams across India, the US, Germany, Belgium, the Netherlands, and Taiwan, driven by both organic and inorganic growth. Our vision is to align Cyient’s semiconductor capabilities with the national agenda set by the Ministry of Electronics and Information Technology, aiming to build a robust semiconductor ecosystem in India, said Krishna Bodanapu, Executive Vice Chairman and Managing Director, Cyient.He added that with rising demand for high-performance semiconductor solutions, the new subsidiary will play a key role in delivering end-to-end ASIC turnkey and IC design services, supporting India’s push for self-reliance in the sector.
Also Read: Stocks in news: BPCL, Adani Wilmar, Vodafone Idea, Cyient, Concord BiotechCyient shares price targetAs per Trendlyne data, the average target price of the stock is Rs 1,621, which shows an upside of 41% from the current market prices. The consensus recommendation from 22 analysts for the stock is a 'Hold'.Technically, the stock’s Relative Strength Index (RSI) is at 33.
9. An RSI below 30 signals oversold conditions, while above 70 indicates overbought territory. The stock’s MACD stands at -42.
7, which is below its signal and center line, this is a strong bearish indicator.Cyient shares are currently trading below all key short- and long-term moving averages, including the 20-day to 200-day simple moving averages (SMAs).Cyient shares price performanceOn Monday, Cyient shares closed at Rs 1,153.
8 on the BSE, up 2.8%, while the benchmark Sensex surged 1.49%.
The stock is down 36% year-to-date and 45% over the past 12 months. Its market capitalisation currently stands at Rs 12,811 crore.Also Read: From Ambani to Adani: India's 4 richest billionaires lose over $10 billion in bloody Monday market crash(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of the Economic Times).
