Weak quarter , valuation at comfortable levels. Cyient Ltd, formerly known as InfoTech Enterprises is one amongst the leading players in the IT enabled services space providing services to the Engineering Research and Development segment. We expect growth in FY22E due to communication and transportation vertical and value Cyient at 10x FY22E EPS (Close to 30% discount to last 5 year average P/E) with revised down target price of Rs.360 and change rating from Buy to Accumulate....