Cyient shares crash 6% as stock turns ex-record date for Rs 720 crore share buyback. What's ahead?

Cyient shares fell 6 percent as the stock turned ex-record date for its Rs 720 crore share buyback, the company's first since 2019. The buyback covers up to 64 lakh shares at Rs 1,125 per share and has been approved by shareholders. Despite the buyback, Emkay maintained a Reduce rating on the stock with a target price of Rs 900, citing slowed FY26 growth due to macro headwinds and weak DLM inventory turnover.