The corporate has not introduced the provide worth.
Cyient held a 66.66% stake in Cyient DLM on the finish of the June quarter.
The announcement was made throughout after-hours buying and selling shares Cyient’s closing worth on the NSE was Rs 1,933, up Rs 112.05, or 6.15%, from Monday’s closing worth. In the meantime, Cyient DLM shares closed at Rs 789.60, up Rs 4.85, or 0.62%.
this income Cyient DLM’s income for fiscal 2024 was Rs 1,192 crore, whereas Cyient’s income was Rs 7,147 crore throughout the identical interval. Due to this fact, Cyient DLM’s income in fiscal 2024 is 17% of the previous’s income. net worth As of March 31, 2024, Cyient DLM’s belongings have been Rs 909 crore, whereas Cyient’s web belongings have been Rs 4,557 crore. This makes Cyient DLM’s web belongings account for 20% of the latter’s complete web belongings as of March 31, 2024. capital Proceeds from the proposed transaction will likely be used to fund the corporate’s capital necessities for key investments, together with its lately introduced semiconductor enterprise to assist its development, numerous natural and inorganic investments, and retire company debt.(Disclaimer: The recommendation, options, views and opinions given by consultants are private and don’t symbolize the views of The Financial Instances)
