Following a multibagger surge in the stock in the last 1 year, domestic brokerage house Axis Securities has picked IT stock Cyient as its top pick of the week .
Cyient shares: The engineering and technology solutions provider talked about Urban Air Mobility (UAM) and its potential to revolutionise transportation of goods inter and intra-cities
The Cyient stock hit an all-time high on Tuesday and has been a consistent outperformer over a year. The companys revenues from sustainability segment have risen from 15.4% in FY22 to 22.1% in FY23. The trend should continue in FY24 too. However, the MF stake in the stock has fallen. What has made investors backtrack their bet on Cyient?
Cyient's strategy is based on a balanced portfolio of verticals, better alignment of incentives, enhancing capabilities in highgrowth services and scalable & agile delivery.
Cyient: Morgan Stanley suggested growth in large accounts and new client additions, pricing trends in existing clients and stable spending by clients in the engineering services vertical, as growth drivers.