Cyient shares rally 4% on collaboration with Germany’s Deutsche Aircraft

Shares of Cyient gained more than 4% on Thursday, March 28, after the company announced a partnership with a Germany-based original equipment manufacturer (OEM).

Cyient, an engineering and technology solutions provider, has entered into a strategic alliance with Munich-based Deutsche Aircraft. As part of the agreement, both the companies will work together on the detailed design for manufacturing (DFM) of the 40-seater D328eco regional turboprop aircraft’s rear fuselage section, Cyient said in a filing to the stock exchanges.

An upgraded version of the Dornier 328 series, the D328eco is a fuel-efficient aircraft designed for use on regional flights. Specific structural modifications are needed for the aircraft due to a higher passenger capacity.

Karthikeyan Natarajan, the executive director and CEO of Cyient, said, “We are excited about our collaboration with Deutsche Aircraft to support the development of the D328eco aircraft. Our expertise in the aircraft design and development life cycle will play a crucial role in developing the D328eco. Together, we look forward to driving advancements in aviation technology and contributing to the success of this transformative project.”

Earlier this month, on March 13, Cyient signed a multiyear services agreement for Cabin and Cargo Engineering Airbus. With this, Airbus chose Cyient to create a section of the ‘Intelligent Core Management Platform’ (iCMP) for its cabin.

Established in 1991, Cyient provides intelligent engineering and technology solutions in partnership with more than 300 clients across the globe.

Shares of Cyient Ltd were trading 2.74% higher at ₹1,996.1 apiece on the NSE at 3:02 pm.