CYIENT

June 24 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT LTD - VODAFONE, CYIENT UNVEIL AI-POWERED NETWORK CONFIGURATION MANAGEMENT SOLUTION

Source text: ID:nBSE4B48L2

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June 12 (Reuters) - Cyient Ltd CYIE.NS:

• MIPS AND CYIENT SEMICONDUCTOR COLLABORATE

• MIPS AND CYIENT SEMICONDUCTOR COLLABORATE ON RISC-V-BASED POWER SOLUTIONS

Source text: ID:nBSE84MmNT

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June 11 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT FOUNDATION AND AICTE SIGN MOU TO BUILD INNOVATION CLUSTER IN VISAKHAPATNAM

Source text: ID:nnAZN3YUFHA

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** Shares of Cyient CYIE.NS fall 8.4% to 1138.3 rupees, their biggest one-day loss in three months, amid a broader weak market

** Engineering, research & design (ER&D) firm's Q4 profit falls 9.9%, hurt by weak demand in sustainability segment

** Ambit Capital("buy;" PT:2000 rupees): global macro uncertainty to weigh on co for next few quarters

** However, adds slowdowns caused by project delays to be short-term as long-term trends of aerospace demand and energy transition for co's key segments remain intact

** More than 3.6 mln shares traded, 6.4x 30-day avg

** Avg rating on stock is "hold;" median PT is 1505 rupees - data compiled by LSEG

** Stock down 38% YTD

(Reporting by Aleef Jahan in Bengaluru)

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** Shares of integrated electronics manufacturer Cyient DLM CYIT.NS up 3.3% to 497.6 rupees

** Co's Q4 profit after tax rises 36.5% y/y on operational efficiency, higher revenue from aerospace customers; revenue up 18.3%

** Stock on track for seventh straight session of gains

** With session's gains, stock trims 12-month decline to 27.9%

(Reporting by Ananta Agarwal in Bengaluru)

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** Shares of India's Cyient CYIE.NS rise 3% to 1,180 rupees
** Engineering and technology firm gets order for hydrogen project in Norway, part of a joint venture between GreenH and Germany's Luxcara
** Cyient did not disclose financial details of the order

** YTD stock has fallen ~36%

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of Cyient DLM CYIT.NS jump 5.5% to 449.9 rupees

** Electronics manufacturing services co partnerswith German aircraft manufacturer Deutsche Aircraft

** Under the partnership, Cyient DLM will design, develop and manufacture cabin management system for Deutsche Aircraft

** Still, stock is down 33.5% so far in 2025 mainly after a slump in Q3 profit

(Reporting by Nishit Navin)

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April 8 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT LTD - ANNOUNCES LAUNCH OF SEMICONDUCTOR SUBSIDIARY

Source text: ID:nNSE6vdJJ8

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** Engineering, research and development (ER&D) firms, earning significant chunk of rev from tech projects executed for automakers, decline

** Previously announced U.S. tariff of 25% on imported cars and light trucks comes into effect on Thursday; to raise costs for U.S. consumers, impact clients' tech spends, stymie production

** KPIT Technologies KPIE.NS falls most, down 5.7%; Cyient CYIE.NS, L&T Technology Services LTEH.NS shed 3.6% and 2.6%

** CYIE, LTTS derive 30%-33% rev from auto clients, while KPIE earns nearly all its rev from them

** Analysts say demand for services in automotive/transport-related verticals will be hit

(Reporting by Nandan Mandayam in Bengaluru)

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March 4 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT LTD - CYIENT, AMERICAN DATA SOLUTIONS FORGE PARTNERSHIP FOR CONTENT MANAGEMENT

Source text: ID:nnAPN2OMQCE

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Feb 19 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT LTD - APPOINTS SUKAMAL BANERJEE AS CEO

Source text: ID:nNSE5vCk3N

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Feb 5 (Reuters) - Cyient Ltd CYIE.NS:

• ENTERS MOU WITH MICWARE NAVIGATIONS

Source text: ID:nBSE8r13ms

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** Shares of Cyient CYIE.NS fall 20% to 1,404.2 rupees, set for their biggest ever one-day loss, in busiest session in nearly four years

** Engineering and technology firm's Q3 profit misses expectations, hurt by slower growth in its biggest segment and higher costs

** Expects project-led volatility to continue in FY26 before it achieves some stability in FY27 - PL Capital

** Co's FY25 revenue growth guidance of -2.7%, Q4 EBIT margin guidance of 13.5%, both weaker than expected - Ambit Capital

** A weak Q4, seasonally weak H1 could lead to lower revenue growth for FY26 - Motilal Oswal

** Stock lost 20% in 2024 vs 4% gain in peer Mphasis MBFL.NS

(Reporting by Aleef Jahan in Bengaluru)

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Jan 23 (Reuters) - Indian engineering and technology firm Cyient CYIE.NS reported a third-quarter profit below analysts' expectations on Thursday, hurt by slower growth in its biggest segment and higher costs.

Its profit declined to 1.22 billion rupees ($14.12 million) for the three months ended Dec. 31, from 1.47 billion rupees a year ago. Analysts had expected 1.71 billion rupees, according to data compiled by LSEG.

Growth in Cyient's transportation division — which contributes 30% to the company's biggest unit, digital, engineering and technology — has eased over the past few quarters due to delays in project starts in the aerospace segment and slowdown in the rail segment.

The downbeat results also echo those of peer engineering, research and design companies (ER&D) Tata Elxsi TTEX.NS and L&T Technology Services LTEH.NS.

ER&D services, which include providing technology support to industries such as aerospace, telecom and automotive, contribute a sixth of the revenue to India's $254-billion technology sector.

Cyient's total expenses rose 9% during the quarter, led by a 26% jump in its cost of materials consumed and a 6% rise in employee expenses.

Revenue from the company's digital, engineering and technology segment, which contributes more than 76% to its total revenue — fell 1%.

Its smaller design-led manufacturing business, Cyient DLM CYIT.NS, posted a 38% rise in revenue.

Cyient's total revenue rose 5.7% to 19.26 billion rupees, beating analysts' estimates.

($1 = 86.4040 Indian rupees)

(Reporting by Aleef Jahan)

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** Shares of electronics manufacturing services company Cyient DLM CYIT.NS fall as much as 12.5% to 521.50 rupees, lowest since Aug. 21, 2023

** CYIT on Tuesday reported 40.4% Y/Y fall in Q3 consol net profit

** While rev from ops rose 38.4% Y/Y, total expenses jumped 42.7% Y/Y led by higher input cost

** Stock witnessing its most active trading session since Nov. 6, 2024, with more than 658,000 shares changing hands, 3.6x of 30-day avg

** Avg rating of six analysts equivalent of "buy", median PT is 831 rupees - LSEG data

** Stock ended down 0.8% in 2024

(Reporting by Ashish Chandra in Bengaluru)

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Jan 20 (Reuters) - Cyient Ltd CYIE.NS:

• CYIENT EXPANDS STRATEGIC PARTNERSHIP WITH DEUTSCHE AIRCRAFT

• SECURES MULTI-YEAR DEAL FOR D328ECO TECHNICAL PUBLICATION

Source text: ID:nBSE5DtkKj

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** Shares of several of India's engineering, research and development (ER&D) companies gain

** KPIT Technologies KPIE.NS rises 3.3%, Persistent Systems inches up 0.7% PERS.NS, L&T Technology LTEH.NS up 0.5%, Cyient CYIE.NS increases 1.7%, and Tata Technologies TATE.NS up 0.1%

** KPIT Technologies rises after J.P. Morgan sees growth picking up in the sector and calls it the top pick

** Lists PERS, LTEH, CYIE, Tata Elsxi TTEX.NS, and TATE as its favourite picks in ER&D space after KPIE

** Brokerage says weakness in auto segment for ER&D is cyclical and should see a bounce back in 2025

** Adds, acceleration in auto segment should drive expansion in growth premium for ER&D over IT

** Barring PERS and LTEH, which have risen 61% and 4% in 2024 so far, the other four companies are in the red for the year, shedding between 6.8% and 23% - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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Nov 15 (Reuters) - Cyient Ltd CYIE.NS:

• CO, ALLEGRO MICROSYSTEMS PARTNER FOR MAGNETIC SENSORS & POWER SEMICONDUCTORS

Source text: ID:nBSE3n95Sr

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Oct 28 (Reuters) - Cyient Ltd CYIE.NS:

• ACQUIRES STAKE IN AZIMUTH AI

• ACQUISITION OF A 27.3% STAKE IN AZIMUTH AI

Source text: ID:nBSE5NB01h

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** Shares of Cyient CYIE.NS rise as much as 6.9% to 1,900 rupees; set for best one day pct-gain since July 12, if trend holds

** Stock among top gainers on Nifty smallcap 50 index .NISM50, which is down 1.7%

** Technology solutions provider posted a profit of 1.79 bln rupees ($21 mln), beating analysts' estimate of 1.64 bln rupees, as per data compiled by LSEG

** Rev at 18.49 bln rupees, beating estimate of 16.63 bln rupees

** More than 1.5 mln shares change hands, 5.3x its 30-day avg

** Eighteen analysts covering the stock on avg have a "buy" rating; median PT is 1,990 rupees - LSEG data

** Stock down 20% YTD vs a 21% rise in .NISM50

($1 = 84.0670 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Oct 24 (Reuters) - Cyient Ltd CYIE.NS:

• CONSIDERATON FOR ACQUIRING 27.3% STAKE AZIMUTH AI, INC IS $7.25 MILLION

Source text for Eikon: ID:nBSE9rYbz1

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** Shares of electronics manufacturing services company Cyient DLM CYIT.NS shed 4.62% after reporting Q2 profit below estimates

** PAT rose 5.5% to 154.54 mln rupees, below analysts' mean estimate of 218 mln rupees - LSEG data

** PAT missed estimates due to higher interest cost, according to Motilal Oswal

** Core profit margins nearly flat Y/Y at 8.12% compared to 8.07% a year ago

** Order book fell 13% Y/Y to 19.79 bln rupees in Q2, marking the third consecutive quarter of decline

** Brokerage factors in a higher-than-anticipated interest cost in the ongoing fiscal year due to a rise in debt

** Cuts FY25 earnings estimates by 5% and says Middle East conflict is impacting the supply chain

** CYIT shares down 1.3% in 2024 so far

(Reporting by Bharath Rajeswaran in Bengaluru)

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** Shares of Cyient Ltd CYIE.NS rise as much as 2.5% to 1,893.95 rupees, before closing up 1.8%

** Technology solutions provider says it partnered with Business Finland to promote joint initiatives in 5G, AI, sustainability, space tech, robotics

** Stock snaps 3 days of losses

** More than 256,000 shares traded this session, vs their 30-day moving avg of 327,103 shares

** Mean rating of 17 brokerages of the stock is at 'buy'; their median PT is 1,987.50 rupees - LSEG data

** CYIE fell ~18% YTD so far

(Reporting by Meenakshi Maidas in Bengaluru)

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By Mike Scarcella

Sept 3 (Reuters) - Aerospace giant RTX’s Pratt & Whitney unit has agreed to pay $33 million to resolve a class action claiming it artificially suppressed wages for tens of thousands of current and former engineers.

The company disclosed on Friday it had reached a deal in principle in a filing in Connecticut federal court, where lawsuits were filed in 2022 claiming Pratt and five engineering staffing firms violated U.S. antitrust law by agreeing not to poach employees from each other.

The full terms of the deal will be presented to the court in the coming weeks, but a source familiar with the proposal said RTX had agreed to pay $33 million to exit the litigation. The settlement requires approval by U.S. District Judge Sarala Nagala.

RTX's Pratt & Whitney, which has denied any wrongdoing, was the remaining defendant in a lawsuit that was a consolidation of related cases. RTX declined to comment on Tuesday.

Attorneys for the plaintiffs at law firms Quinn Emanuel Urquhart & Sullivan and DiCello Levitt did not immediately respond to requests for comment.

Nine named plaintiffs, all former engineers for Pratt and other defendants, sued Pratt and the staffing firms after the U.S. Justice Department in late 2021 charged a former Pratt executive and others in a criminal conspiracy to restrict employee mobility.

After a trial in that case, a federal judge acquitted the defendants before the jury issued a verdict.

Nagala was assigned to oversee more than 20 similar civil lawsuits against Pratt and the other defendants.

The plaintiffs in the civil cases alleged Pratt led a conspiracy to restrict recruitment and hiring, keeping engineers’ wages lower than they otherwise would have been in a competitive market. The lawsuits sought compensation for a class estimated at 43,000 members.

In earlier proposed settlements, Belcan Engineering said it would pay $9.9 million, QuEST Global Services agreed to pay $8.2 million, Cyient agreed to pay $7.4 million, and Agilis Engineering settled for $1 million.

A fifth defendant, Parametric Solutions, is in bankruptcy and agreed to cooperate with the plaintiffs but not pay any monetary penalty.

Agilis, which had a leniency agreement with the U.S. Justice Department, admitted to the plaintiffs that the company participated in a recruitment-related conspiracy. The other defendants have denied any wrongdoing.

The case is Borozny v. Raytheon Technologies Corp, Pratt & Whitney Division, U.S. District Court for the District of Connecticut, No. 3:21-cv-01657.

For plaintiffs: Daniel Brockett of Quinn Emanuel Urquhart & Sullivan; and Gregory Asciolla of DiCello Levitt

For RTX: Chahira Solh of Crowell & Moring; and John Cerreta of Day Pitney

Read more:

Engineering firms to pay $26.5 mln to exit antitrust lawsuit over wages

Aerospace managers acquitted in labor-related antitrust prosecution

Quinn Emanuel, DiCello firms will lead 'no poach' aerospace lawsuits

** Shares of India's Cyient CYIE.NS climb as much as 6% to ~2050 rupees, extending rally to sixth straight session

** IT firm's board approved 14.5% stake sale in unit Cyient DLM

** Shares last up ~2%; trims YTD losses to 14%

(Reporting by Hritam Mukherjee in Bengaluru)

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Aug 20 (Reuters) - Cyient Ltd CYIE.NS:

• APPROVED SALE OF UP TO 14.5% OF STAKE OF UNIT CYIENT DLM

• STAKE SALE VIA BLOCK DEAL WINDOW

Source text for Eikon: ID:nBSE6TPf7T

Further company coverage: CYIE.NS

(Reporting by VijayDattaram Malkar)

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** Shares of engineering tech co Cyient CYIE.NS down 8.7% at 1,729 rupees, biggest intra-day drop since May 2020

** Co on Thursday reported 14.4% Y/Y drop in Q1 profit on project deferrals

** Co sees flat FY25 growth for digital, engineering and technology segment

** Q1 was disappointing across all fronts, revised growth and margin guidance appear ambitious, will require strong performance throughout FY25, which is challenging - PhillipCapital said in a note

** Including day's losses stk down 4.9% YTD

(Reporting by Sethuraman NR in Bengaluru)

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July 25 (Reuters) - Cyient Ltd CYIE.NS:

• Q1 CONSOL NET PROFIT 1.44 BILLION RUPEES

• Q1 CONSOL REVENUE FROM OPERATIONS 16.76 BILLION RUPEES

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** Shares of technology solutions provider Cyient CYIE.NS rise as much as 7.4% at 1,905 rupees

** CYIE on Thursday said it approved setting up separate unit for end to end turnkey ASIC semiconductor business

** More than 1 mln shares change hands, 2.6x the 30-day avg

** Average analyst rating on stock is "Buy"; median PT at 2,210 rupees, a 16% premium to day's high - LSEG data

** Stock last up 4.2%, set to snap 4 straight weeks of losses

(Reporting by Anisha Ajith in Bengaluru)

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July 11 (Reuters) - Cyient Ltd CYIE.NS:

• IN-PRINCIPLE APPROVAL TO RE-ORGANISE END TO END TURNKEY ASIC SEMICONDUCTOR BUSINESS

• COST OF ACQUISITION NOT EXCEEDING 1 MILLION RUPEES

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