Shares of Cyient surged nearly 3% in the opening trading session of March 28, Thursday, after the company signed an aircraft design agreement with German-based Deutsche Aircraft.
Cyient, an engineering and technology solutions provider, has entered into a strategic partnership with German regional commercial aircraft manufacturer Deutsche Aircraft.
Under this agreement, the two companies will collaborate on the detailed design for manufacturing of the rear fuselage section of the 40-seater D328eco regional turboprop aircraft, an upgraded version of the Dornier 328 series. The D328eco, known for its fuel efficiency, is designed to operate on regional routes and requires specific structural updates to accommodate increased passenger capacity.
As of 9:45 am, the shares were trading 2.30% higher at ₹1,987.55 on NSE.
Cyient CEO and executive director Karthikeyan Natarajan expressed his thoughts on the partnership, stating, “This partnership underscores Cyient’s commitment to delivering innovative engineering solutions in the aerospace sector. Together, we look forward to driving advancements in aviation technology and contributing to the success of this transformative project.”
About the company –
Cyient is a Global multinational technology company that is focused on engineering, manufacturing, data analytics, networks and operations. Formerly Infotech Enterprises Ltd. was established in 1991 in Hyderabad.