Cyient to set-up subsidiary for semiconductor business; stock rallies 7%

Cyient stock zooms: Shares of IT major Cyient rose as much as 7 per cent to hit an intraday high of Rs 1,900 per share on Friday.

The uptick in stock price came after the company announced the strategic expansion of its semiconductor business with the establishment of a fully owned subsidiary.

“The decision marks a major leap forward in Cyient’s commitment to innovation and excellence within India’s growing semiconductor landscape,” the company said in a statement.