January 19, 2018 / 4:47 AM / 3 months ago

BUZZ-India's Cyient hits over 2-yr high on higher Q3 revenue

** Cyient Ltd climbs as much as 7.1 pct to 623 rupees - highest since Oct. 15, 2015

** Co said on Thursday its Dec-qtr consol net profit fell 6.8 pct to 878 mln rupees

** However, consol revenue from ops rose 7.2 pct to 9.83 bln rupees

** Morgan Stanley hikes price target to 670 rupees from 650 rupees, maintains ‘overweight’ rating

** Strong double-digit revenue and earnings growth, driven by core services business, highlighting continued strong momentum in the business - analysts say

** Management expects current business momentum to continue in FY 2019; revenues from top 20 clients likely to stay strong - Morgan Stanley adds

** Up to Thursday’s close, stock had risen 21.3 pct in 12 months

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