Cyient DLM Shares Rise Following Partnership Announcement with Honeywell Aerospace
Cyient DLM, an integrated electronics manufacturing solutions provider, saw its stock rise by 4.31 percent to an intra-day high of Rs 660.15 on the BSE Wednesday. The increase followed the announcement of a new partnership with Honeywell Aerospace Technologies to develop a micro vapour cycle system (Micro VCS) for aircraft cooling.
According to a company press release, Cyient DLM has agreed to a 16-year program with Honeywell Aerospace to produce liquid cooling loops for the Micro VCS. The system is intended to enhance cabin temperature control, with Cyient DLM stating that the Micro VCS offers up to 35 percent reduction in weight and 20 percent improvement in efficiency compared to cooling systems of similar capacity.
As of November 6, 2024, Cyient DLM has a market capitalization of Rs 5,112.07 crore on the BSE and is part of the BSE SmallCap index. The company’s shares have traded within a 52-week range of Rs 882.90 to Rs 580. Over the last six months, Cyient DLM stock has seen a decline of 3.39 percent, and it is down 4.52 percent for the year to date.
By mid-afternoon on Wednesday, Cyient DLM shares were trading at Rs 645.10, reflecting a 1.94 percent increase from the previous close of Rs 633.05. Trading volume reached nearly 0.70 million shares across the NSE and BSE, amounting to a turnover of approximately Rs 44.68 crore.
On the same day, broader market indices were also on an upward trend, with the BSE Sensex up 1.37 percent at 80,555.90 points, and the NSE Nifty50 up 1.33 percent at 24,536.20 points.