Cyient shares gained 1 percent intraday on June 7 after the company made a strategic investment in rail cybersecurity company Cylus.
“This investment is in line with the company’s focus on developing smarter and safer mobility solutions for the rail industry,” the engineering and technology solutions company said in its filing.
Israel-based Cylus is the developer of CylusOne, a cybersecurity software product, designed for mainline and urban rail systems. The solution detects cyber threats in the signalling and control networks, both trackside and onboard, facilitating a timely and effective response.
“The move enables Cyient and Cylus to expand their industry-specific cybersecurity value proposition, jointly address market needs, and accelerate the development of cutting-edge cybersecurity solutions for rail,” Cyient said.
At 1229 hours, the stock was quoting at Rs 564.00, up Rs 2.40, or 0.43 percent on the BSE.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.