Bajaj Auto Ltd, Biocon Ltd, Maharashtra Scooters Ltd, Mahindra Logistics Ltd are among the other stocks to see a surge in volumes on NSE today, 22 January 2021.

Cyient Ltd notched up volume of 46.69 lakh shares by 14:14 IST on NSE, a 11.13 fold spurt over two-week average daily volume of 4.20 lakh shares. The stock rose 13.49% to Rs.576.30. Volumes stood at 8.5 lakh shares in the last session.

Bajaj Auto Ltd registered volume of 70.41 lakh shares by 14:14 IST on NSE, a 9.23 fold spurt over two-week average daily volume of 7.63 lakh shares. The stock rose 10.17% to Rs.4,080.00. Volumes stood at 15.34 lakh shares in the last session.

Biocon Ltd clocked volume of 219.86 lakh shares by 14:14 IST on NSE, a 7.23 times surge over two-week average daily volume of 30.40 lakh shares. The stock lost 9.83% to Rs.398.50. Volumes stood at 36.18 lakh shares in the last session.

Maharashtra Scooters Ltd saw volume of 37752 shares by 14:14 IST on NSE, a 4.82 fold spurt over two-week average daily volume of 7830 shares. The stock increased 2.06% to Rs.3,803.60. Volumes stood at 23078 shares in the last session.

Mahindra Logistics Ltd saw volume of 6.21 lakh shares by 14:14 IST on NSE, a 4.54 fold spurt over two-week average daily volume of 1.37 lakh shares. The stock increased 2.85% to Rs.496.55. Volumes stood at 2.84 lakh shares in the last session.

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In dollar terms, consolidated revenue stood at $141.4 million for the quarter; up 4.7% quarter-on-quarter (QoQ) and down 8.9% year-on-year (YoY). In constant currency, revenue was up 4.1% QoQ.

EBIT improved by 5.5% to Rs 116.5 crore in Q3 December 2020 from Rs 110.5 crore in Q2 September 2020. EBIT margin was at 11.2% as on 31 December 2020 as against 11% as on 30 September 2020.

Profit before tax in Q3 FY21 stood at Rs 124.8 crore, up by 14.4% from Rs 109.1 crore in Q2 FY21. Tax expenses during the quarter increased by 16.7% year-on-year (YoY) to Rs 29.4 crore.

The company's order intake in Q3 FY21 stood at $194.50 million, registering a sequential improvement of 52.8%.

Cyient won 5 multi year deals with total contract potential of $106 million. The company won 3 large deals worth $50 million with top 5 telecom companies, bagged a deal in design led manufacturing (DLM) worth $36 million and secured a deal from a Med Tech company worth $20 million.

At the end of Q3FY21, the IT firm's employee strength stood at 12,187. Cash & cash equivalent were at Rs 1431.30 crore as on 31 December 2020.

Commenting on the results, Krishna Bodanapu, managing director and chief executive officer, said We continue to focus on improving operational efficiency and executing actions to bring growth back in the business. We won a number of large deals which sets us up for a stronger performance in the coming quarters. Our Order Intake (OI) for the quarter has increased by 7% YoY backed by strong growth in key clients and digital opportunities. The new organization structure implemented in the last quarter is settling in well and we see increased growth traction with opportunities in key industries. We continue to strengthen our relationship with our existing clients.

We expect the recovery in the business through Q4 FY21 with services business growing sequentially driven by growth across all segments except Aerospace & Defense which is expected to remain flat. Our outlook for FY21 remains unchanged wherein we expect a double-digit de-growth in revenue.

Cyient is a global engineering and technology solutions company. The company leverages digital technologies, advanced analytics capabilities, domain knowledge, and technical expertise to solve complex business problems.

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Net profit of Cyient declined 11.91% to Rs 95.40 crore in the quarter ended December 2020 as against Rs 108.30 crore during the previous quarter ended December 2019. Sales declined 5.57% to Rs 1044.30 crore in the quarter ended December 2020 as against Rs 1105.90 crore during the previous quarter ended December 2019.

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Cyient has granted 282,240 stock options under Associate Stock Options Plan 2015.

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