Cyient Ltd, a global Intelligent Engineering company delivering solutions for a digital, autonomous, and sustainable future, today announced the strategic expansion of its Semiconductor business with the establishment of a fully owned subsidiary. This decision marks a significant leap forward in Cyient’s commitment to innovation and excellence within India’s growing semiconductor landscape.
Mr. Krishna Bodanapu, Vice Chairman & Managing Director of Cyient Limited, said, “We are happy to announce this strategic initiative that enhances our capabilities in Application Specific Integrated Circuit (ASIC) turnkey design and manufacturing. As the global semiconductor market is expected to hit a trillion dollars by 2030 and the Indian Electronics and Semiconductor Association (IESA) forecasting the industry’s growth to USD 100 billion by 2030, we are wellpositioned to capitalize on the vast opportunities for growth and influence in this evolving market.”
“Cyient’s credentials in the semiconductor electronics sector through Cyient DET and Cyient DLM have enabled us to set-up this subsidiary to drive a dedicated focus on turnkey ASIC design and chip sales through a fabless model for analog mixed-signal chips. This subsidiary ushers a new avenue of possibilities for Cyient to enhance value to our stakeholders and we are grateful for their continued support in this journey,” he added.
Cyient’s portfolio of over 600+ IPs covering a range of functions and technology nodes, longstanding engagements with key customers, and global capabilities give the Company the strategic edge to achieve significant growth. The subsidiary will strengthen the position in the industry by delivering world-class specialized turnkey ASIC design and chips sales under focused and capable leadership, adapting to market cycles, and more effectively addressing this industry’s technology and capital requirements.
Shares of Cyient Limited was last trading in BSE at Rs. 1775.70 as compared to the previous close of Rs. 1791.15. The total number of shares traded during the day was 8293 in over 1449 trades.
The stock hit an intraday high of Rs. 1804.90 and intraday low of 1768.00. The net turnover during the day was Rs. 14769274.00.
Source : Equity Bulls
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