Stock market today, Jan. 24 -- Shares of Cyient, one of India's leading IT companies, plunged 20% in intraday trade on Friday, January 24, hitting a 17-month low of Rs.1,140 apiece. The sharp decline followed multiple brokerage firms trimming their target price for the stock after the company reported a weak set of numbers for the December quarter.

Factors such as slower growth in its Digital, Engineering, and Technology (DET) segment, a cut in revenue guidance for FY25, and the unexpected resignation of its CEO led to substantial selling pressure on the stock in trade.

The company, in its post-market hours filing on Thursday, reported a 31.7% drop in net profit to Rs.122.3 crore for Q3FY25, compared to Rs.179 crore in the previous July...