Cyient Dividend 2024: IT major recommends final dividend of Rs 18 - Check details

Cyient Dividend 2024: IT major Cyient Limited on Thursday informed exchanges that its board of directors has recommended a final dividend of Rs 18 per equity share.

"Recommended a final dividend of INR 18/- (i.e 360 %) per equity share for the financial year ended 31 March 2024," the company said in an exchange filing. 

Earlier in March, brokerage firm JP Morgan initiated coverage of the IT major. 

The brokerage firm said that it initiated the 'overweight' coverage due to strong demand in the majority of its portfolio, margin execution and inexpensive valuations, providing re-rating potential.

On Thursday, the counter closed with a gain of 1.27 per cent or Rs 23.95. The counter closed at Rs 1,916 on the BSE. Earlier, the counter opened at Rs 1,907.95 and went on to touch the day's high of Rs 1919.95.

Cyient Share Price - Long-term target

Zee Business panellist Siddharth Sedani said that it is one of the best companies in the mid-cap IT space and that is why we have been recommending this stock for the last couple of years. 

"The long-term target for Cyient is Rs 2470 and the company has strong growth potential," Sedani said.