This Handshake of Ventures to Fight for Climate Change; Stock soared 300 per cent in 3 years!

The strategic alliance beyond boundaries to set a global standard for eco-friendly partnerships, the company has signed a Letter of Intent (LoI)

Cyient, a global leader in digital, engineering, and technology solutions, has announced a joint commitment with Thales, a global technology leader in the aerospace, defense, and security industries, to work together to tackle climate change across their respective value chains.

The two companies signed a Letter of Intent (LoI) during a signing ceremony organized on the sidelines of Thales' 70th anniversary in India. As part of the LoI, both parties committed to reducing their carbon emissions and promoting sustainable practices throughout their operations.

Thales is working with its strategic suppliers to achieve its CO2 emissions reduction targets for 2030, which have been validated by the Science Based Targets Initiative (SBTi) and are compatible with the objectives of the Paris Agreement. These targets include a 50 per cent reduction in absolute CO2 emissions related to Thales' operational processes (Scope 1) and energy consumption (Scope 2), and a 15 per cent reduction in absolute CO2 emissions related to its supply chain and the use of its products by customers (Scope 3). Thales also aims to achieve net zero operations-related CO2 emissions (Scopes 1 and 2) by 2040.

Cyient, for its part, has a long-standing commitment to sustainability. The company has been recognized for its eco-friendly practices, which include the elimination of plastic usage within factory premises, continuous tree plantation drives to preserve green surroundings, efficient waste management, and the implementation of rainwater harvesting systems.

In addition to these initiatives, Cyient is also investing in its Environmental, Social, and Governance (ESG) roadmap. The company is collaborating with clients and suppliers across the ecosystem to promote sustainable practices and reduce its environmental impact.

“Thales is committed to a proactive and responsible approach to environmental protection in India and globally. As part of our strategy for a Low-Carbon Future, procurement teams across Thales are working diligently with growing numbers of key suppliers to reduce the carbon footprint of our respective value chains. We will only meet our ambitious objectives by working together with our suppliers to promote energy efficiency and the use of renewable energy sources, optimize our processes and logistics operations, and adopt the principles of eco-design for our new products. We are proud to join hands with Cyient Ltd in line with our strategy,” said Roque Carmona, Chief Procurement Officer, Thales.

“Cyient has partnered with Thales in a shared commitment to lead the way towards a low-carbon future. Together, we are working to build a world where innovation and environmental responsibility come together to build a brighter and more sustainable future. Cyient continues to invest in its ESG roadmap, collaborating with clients and suppliers across the ecosystem,” said Krishna Bodanapu, Executive Vice Chairman and MD, Cyient Ltd.

Stock Performance

Currently, the stock Is trading at Rs 1,692 with a positive return of 2.19 per cent on the weekly timeframe. Despite a marginal dip of -0.80 per cent in the last month, the firm has shown resilience with a remarkable gain of 11.33 per cent over the past three months. The one-year and three-year registered gains of 110.57 per cent and 298.97 per cent, respectively. The stock has reached an all-time high with the highest returns of 535.75 per cent.

About Company

Cyient (formerly Infotech Enterprises Limited) is an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations.

Disclaimer: The article is for informational purposes only and not investment advice.