Nuvama Institutional Equities has maintained a ‘Hold’ rating on Cyient, setting a target price of ₹1,200, indicating limited upside from the current levels. The brokerage flagged a soft start to FY26, marked by muted growth and margin performance.
Cyient’s Q1FY26 results focused primarily on stabilisation, and while management commentary suggests that growth could pick up in the coming quarters, Nuvama has turned cautious due to the subdued momentum seen so far.
The firm has also revised its earnings projections downward, cutting FY26E and FY27E DET EPS by 4.4% and 0.9%, respectively, driven by lower growth expectations and continued margin pressure.
While the long-term outlook may improve as the company stabilizes operations, Nuvama sees no immediate triggers for significant rerating.
Disclaimer: The views and investment recommendations expressed above are those of Nuvama Institutional Equities and do not represent the views of this publication. Investors are advised to consult their financial advisor before making any investment decisions.
