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Share price of Cyient gained 3.5 percent intraday as the company signed definitive agreement to acquire the remaining stake in its subsidiary company.
The company signed definitive agreement to acquire the remaining 49 percent stake in its subsidiary Cyient Insights to take the overall stake to 100 percent.
The consideration is paid in cash and said acquisition is likely to close in seven days and is subject to customary closing conditions.Public sector lender Syndicate Bank share price dropped nearly 6 percent after it reported a net loss of Rs 2,195.12 crore in the last quarter ended March 31, due to high bad loans that required higher provisioning.
The bank had posted a net profit of Rs 103.84 crore in the corresponding January-March quarter of 2016-17. In December quarter, there was a net loss of Rs 869.77 crore.
The bank's provisioning requirement for bad assets were raised by nearly three times during the March quarter to Rs 3,544.68 crore as against Rs 1,192.54 crore in the same period previous fiscal, it said in a regulatory filing.
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