52-week high alert: Heavy buying witnessed in this multibagger stock; zooms more than 11 per cent in today’s session!

The stock has witnessed significant buying activity as it has delivered multibagger returns of more than 600 per cent in just 3 years

On Friday, shares of Cyient Limited soared more than 11 per cent, reaching a new 52-week high of Rs 1525.55 per share on BSE. The stock witnessed a significant surge in trading volume, exceeding 2.5 times the average.

In Q4FY23, the revenue from operations surged by 48 per cent from the same quarter of the previous year to Rs 1751.4 crore. The EBITDA level stood at Rs 305.8 crore, witnessing a growth of 43.09 per cent from the March 2022 quarter. The net profit of the company surged by 5.83 per cent from the corresponding quarter of the previous year to Rs 163.2 crore.

The company has recently formed a partnership with Thingtrax, aiming to enhance efficiency and cost savings for manufacturers. On Tuesday, the technology solutions provider announced its collaboration with Thingtrax, with the goal of assisting manufacturers in reducing expenses and boosting productivity. By leveraging data powered by artificial intelligence, the Cyient-Thingtrax alliance will empower manufacturers worldwide to enhance their performance across all aspects of manufacturing operations.

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Cyient is a global engineering and technology solutions company. As a design, build and maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems.

The stock has witnessed significant buying activity as it has delivered multibagger returns of more than 600 per cent in just 3 years. Moreover, the stock has surged more than 80 per cent in just 1 year. Keep a close eye on this trending stock.