Gold Silver Reports (GSR) – Cyient Swings After Acquiring Semiconductor Firm – Shares of the software developer fluctuated between gains and losses and fell 1.5 percent to 750.10 as of 9:35 a.m. The company acquired semiconductor firm Ansem N.V. in an all-cash deal worth $17 million, according to its stock exchange filing.
The relative strength Index was 79, indicating that the stock may be overbought. The stock returned 45.9 times over the past year, compared to 17.5 percent gain in Sensex.
Thermax Gains After Winning Rs 279 Crore Power Plant Order
Shares of the conservative energy equipment maker snapped two-day decline and rose as much as 3.3 percent to Rs 1,169.45.
The company won Rs 279 crore order for a captive cogeneration power plant, according to its stock exchange notification.
The stock is testing resistance at 50-day moving average, Bloomberg data showed. Thermax trades at 35.4 times estimated forward earnings per share compared to 33.2 times for its two-year historical average.
