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Cyient gains 2% after Co acquires 86% stake in subsidiary company

10 September, 2018 6:46 AM
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Cyient gains 2% after Co acquires 86% stake in subsidiary company

Shares of Cyient gained 2 percent intraday Monday as company acquired 86 percent stake in subsidiary company Cyient KK, Japan.

Cyient Australia Pty, a wholly owned subsidiary of the company has acquired 86 percent stake in Cyient KK, Japan, which is another wholly owned subsidiary of the company.

Subsequently, the stake of the company in Cyient KK, Japan is 14 percent.

This transaction does not materially impact the consolidated financials of the company.

At 11:56 hrs Cyient was quoting at Rs 804, up Rs 11.70, or 1.48 percent on the BSE.

Also read: Max India gains 5% after JV co to sell 49.7% stake in Max Healthcare

Source: moneycontrol.com

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