Motilal Oswal, one of India’s leading financial services companies, has recommended buying shares of Cyient, an engineering and technology solutions company, with a target price of Rs 1450. This recommendation comes after the company’s strong performance in the past few quarters and its positive outlook for the future.
Cyient, formerly known as Infotech Enterprises, was founded in 1991 and is headquartered in Hyderabad, India. The company provides engineering, manufacturing, geospatial, network, and operations management services to clients across various industries such as aerospace, defense, transportation, energy, and utilities.
In the past few quarters, Cyient has shown strong growth in revenue and profits. In Q1 FY22, the company’s revenue grew by 12.3% YoY to Rs 1,089.2 crore, while its net profit increased by 23.5% YoY to Rs 103.8 crore. The company’s management has attributed this growth to its focus on digital transformation and innovation, as well as its strong relationships with clients.
Motilal Oswal’s recommendation to buy Cyient shares is based on the company’s positive outlook for the future. The company has a strong pipeline of orders and is expected to benefit from the global trend towards digitalization and automation. Cyient has also made strategic acquisitions in recent years to expand its capabilities and offerings.
The target price of Rs 1450 set by Motilal Oswal represents a potential upside of around 20% from the current market price of Cyient shares. This target price is based on the company’s strong fundamentals, growth prospects, and valuation.
Investors who are considering buying Cyient shares should keep in mind that investing in the stock market involves risks and uncertainties. It is important to do your own research and consult with a financial advisor before making any investment decisions.
In conclusion, Motilal Oswal’s recommendation to buy Cyient shares with a target price of Rs 1450 is based on the company’s strong performance in the past few quarters and its positive outlook for the future. Investors who are interested in the stock should do their own research and consult with a financial advisor before making any investment decisions.
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- Source: https://zephyrnet.com/buy-cyient-target-of-rs-1450-motilal-oswal/