Cyient jumps nearly 3% after firm pens a deal with Airbus for cabin engineering services

Cyient Share Price: Cyient jumped nearly three per cent in morning deals on BSE on Thursday (March 14, 2024) after the company inked a deal with Airbus for cabin engineering services
to support future connected cabins.

The stock of the company was trading higher by 1.08 per cent, or Rs 20.50, at Rs 1915.00 at 9:39 am on Thursday. 

Earlier, the stock that closed at Rs 1894.50 on Wednesday started the journey at 1895.05 on Thursday and jumped to the day's high of Rs 1949.95, a 2.93 per cent rise from the previous close. 

What is Cyient-Airbus deal?

Cyient, a global intelligent engineering and technology solutions company, has signed a multi-year services agreement with Airbus for cabin and cargo engineering.

"Following this agreement, Cyient has been selected by Airbus for the development of a part of its cabin ‘Intelligent Core Management Platform’ (iCMP). These systems focus on enabling faster software updates, easy and rapid customization, and proliferation of digital services in Cabin," Cyient said in a statement on Wednesday.

Cyient has been working with Airbus, supporting the future-ready cabins to deliver state-of-the-art services requiring new technologies and significant data flow volumes, the company said.

What Kushal Gupta says about Cyient?

Analyst Kushal Gupta recommends buying Cyient in cash at Rs 1960 with stop-loss at Rs 1880.