Cyient shares rise over 4% after Sukamal Banerjee named CEO, Executive Director of its DET business

Shares of Cyient Ltd surged 4.10% to an intraday high of ₹1,537.05 apiece on the National Stock Exchange (NSE) on Thursday, February 20, a day after the company appointed Sukamal Banerjee as the Executive Director and Chief Executive Office (CEO) of its DET business.

However, the stock closed in red at ₹1,449.00 apiece, down 1.86%.

The appointment comes after the resignation of the previous Executive Director and CEO, Karthikeyan Natarajan on January 23.

Sukamal Banerjee has spent most of his three-decades-long career at HCL Technologies, culminating in the post of Corporate Vice President of its engineering business. Prior to the appointment, Sukamal Banerjee was the CEO and a board member of Xoriant, a leading digital engineering company.

“The ER&D sector is set to drive transformative change over the next decade as engineering and technology innovations redefine the future of products, plants, and networks. In this dynamic landscape, Cyient stands out as a leader in the ER&D sector, powered by its deep-rooted multi-vertical expertise. Leading a team of 16,000+ passionate Cyientists is an honor and a responsibility I embrace with commitment. Together, we will push boundaries, set new benchmarks, and elevate Cyient to reach newer heights and milestones,” Cyient DET’s new Executive Director and CEO commented.

“I am delighted with the appointment of Sukamal as the next CEO to drive the DET business. Sukamal is a values-based leader whose experience and leadership in the ER&D and Technology sector will help Cyient tremendously as we strengthen the organization to deliver the next phase of accelerated growth. I am confident that under Sukamal’s leadership, Cyient DET will be poised to be a leading technologyled intelligent engineering solutions organization delivering to the expectations of our Clients, Associates, and Shareholders,” MM Murugappan, Chairman of Cyient said.

“I am excited to be partnering with Sukamal to deliver on our brand promise of Designing Tomorrow Together. As Cyient continues to strengthen our core engineering offerings and to build technology-led intelligent engineering solutions, Sukamal will lead Cyient DET through a transformative phase of growth. Sukamal’s proven leadership in the ER&D and Technology services sector will tremendously benefit Cyient as we deliver on our commitment to accelerated growth,” Krishna Bodanapu, Executive Vice-Chairman and Managing Director of Cyient commented.