Curated By: Business Desk
Last Updated: October 18, 2023, 12:00 IST
Cyient DLM is a subsidiary of midcap IT firm Cyient Ltd.
Catamaran Ventures, led by NR Narayana Murthy, founding father of the nation’s main IT firm Infosys, has about 1.80 per cent stake in Cyient DLM.
Shares of firm Cyient DLM made a strong debut at Dalal Street in July and prolonged their beneficial properties in October as nicely. Cyient DLM’s IPO was issued at Rs 250 and the worth elevated to Rs 265. It once more noticed a bullish pattern, listed at Rs 401 on July 10, and is now buying and selling on the value of Rs 690. It has additionally traded on the value of Rs 779 in September and delivered multi-bagger returns.
Cyient DLM is now attracting buyers who haven’t invested within the inventory. Stocks that present returns which might be many occasions their prices are known as multi-baggers. These are shares which might be decrease than their value and have sturdy fundamentals, thus presenting themselves as nice funding choices.
Cyient DLM is a subsidiary of midcap IT firm Cyient Ltd, the Hyderabad-based business-centric know-how options firm. Cyient holds 92.84 per cent of the capital of Cyient DLM Ltd whereas Amansa Investments of Singapore holds the stability of seven.16 per cent. This firm supplies companies within the Aerospace, Defence, Healthcare and Life Sciences segments. Catamaran Ventures, led by NR Narayana Murthy, founding father of the nation’s main IT firm Infosys, has about 1.80 per cent stake in Cyient DLM.
One of the particular options of the inventory of this firm is that its shares have been listed at a premium of 51 per cent. Till now, this share has given returns of as much as 70 per cent and the market capitalisation of Cyient DLM is round Rs 56.76 billion.
Anubhuti Mishra, Equity Research Analyst at Swastika Investment, had a phrase with Business Today about Cyient DLM in July. She stated,” Cyient DLM is a basically sturdy firm, has a powerful observe file of development, and is nicely-positioned to learn from the rising demand for digital manufacturing options. We won’t advocate a contemporary ‘buy’ at this stage. However, present buyers can maintain the shares for the long run with a cease loss at 362.7, as the corporate has good development prospects.”
