Cyient Limited, a global provider of engineering, manufacturing, data analytics, networks and operations solutions, announced today that its Founder and Executive Chairman, Mr. BVR Mohan Reddy, has received the prestigious Lifetime Achievement Award 2017 at the 4th edition of the Aerospace & Defense Award 2017. Cyient was also announced as the winner in the 'Excellence in Aerospace Exports' category at the awards ceremony. The ceremony was held on February 13, at Le Meridian, Bangalore, on the eve of Aero India 2017 in the presence of the Guest of Honor, Dr. G Satheesh Reddy, Scientific Advisor to Raksha Mantri & Director, Research Centre Imarat (RCI).
The objective of the Aerospace & Defense Awards instituted by International Aerospace magazine which is published by SAP Media Worldwide Ltd is to appreciate individuals, products, and organizations that have surpassed the standards of excellence in the Aerospace & Defense Industry. SAP Media has engaged a high-profile credible jury and advisory board from several industries who, along with Ernst & Young, have evaluated the contenders across multiple categories.
The Aerospace & Defense Awards 2017, felicitated Mr. BVR Mohan Reddy for numerous accomplishments over the last four decades from pioneering the Engineering R&D model in India to stepping-up the business collaboration and moving from mere cost arbitrage to more value-driven program partnerships.
In the four years of Aerospace & Defense Awards, this is the second time that Cyient has been awarded the Excellence in Aerospace Exports based on criteria like global competitiveness, strategic alliances, and increasing India's market share in the global Aerospace & Defense market.
On receiving the Lifetime Achievement Award, Mr. BVR Mohan Reddy Founder and Executive Chairman, Cyient said, "When I started Cyient (formerly Infotech Enterprises) in 1991, many global firms were not ready to outsource engineering, and similarly Indian companies did not have the risk appetite to get into this skill and technology-intensive product development sector. Our relentless focus on product and process innovation set us apart, and today we are a preferred partner for our global clients in the Aerospace & Defense sector. I am delighted to receive this award and dedicate it to the Cyient team, which has worked relentlessly to make Cyient a global leader in this space. We will continue to reinvent our business, operations, and the value we offer to our clients." Cyient's Aerospace and Defense business unit is its largest; contributing as much as 37% of its overall revenue. Its unique collaborative engineering approach along with strong product knowledge, deep domain expertise backed by 35+ million hours of experience across structures, engines, avionics, systems, and interiors, has enabled Cyient to create patentable design solutions and many successful product partnerships.
Shares of Cyient LTD. was last trading in BSE at Rs.463.3 as compared to the previous close of Rs. 465.25. The total number of shares traded during the day was 2477 in over 163 trades.
The stock hit an intraday high of Rs. 467.95 and intraday low of 463.3. The net turnover during the day was Rs. 1151628.