IT stock Cyient clocks 8% intraday high as Board fixes record date for 320%
- Cyient opened Thursday's trading session at ₹1300.85 apiece and went to hit an intraday high of ₹1409.00 logging an upside 8.31%.
Cyient opened Thursday's trading session at ₹1300.85 apiece and went to hit an intraday high of ₹1409.00 logging an upside 8.31%. This bullish trend was witnessed after Board of Directors of the company fixed record date for 320% dividend.
“This is to inform that 12 June 2023 is fixed as the cut-off date for the purpose of final dividend and evoting in connection with the Annual General Meeting of the Company scheduled to be held on 21 June 2023. It is further informed that the board of directors of the company have recommended a Final dividend of ₹16.00 per equity share (320%) on par value of ₹5.00 per share for the financial year ended 31 March 2023 to those members as on record date (12 June 2023) subject to the approval of members at the ensuing Annual General Meeting of the company. The dividend will be paid within 30 days from the date of AGM,” Cyient said in a stock exchange filming.
For the quarter ended March 2023, the company reported consolidated services revenue of INR 1448.9 crores, an increase of 5% on a QoQ basis and 47.3% on a YoY basis. In Q4FY23, the firm recorded overall revenue of INR 1,751.4 crores, representing an increase of 8.2% on a quarterly basis and 48.3% on an annual basis. The company recorded group CC revenue growth of 6.6% QoQ and 39.1% YoY, as well as normalised Group EBIT of INR 249.4 crores with a margin of 14.2%. Cyient reported normalised PAT for the fourth quarter of FY23 at INR 176 crores, up 8.1% on a QoQ basis and 14.1% on a YoY basis.
While writing this copy Cyient was seen trading at ₹1372.05 apiece with an upside gap of 5.69% from the previous close of ₹1298.20. The stock touched a 52-week-high of ₹1,415.00 on (22/05/2023) and a 52-week-low of ₹724.00 on (03/11/2022). During Q4FY23, the company reported promoters shareholding of 23.35%, FIIs stake of 32.61%, DIIs stake of 24.88%, public stake of 18.18% and others stake of 0.98%.
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