NIIT Tech surges after RBI raises FII buying limit

DALAL STREET SPIKES

NIIT Technologies was up 4.49 per cent to Rs 187.45 as compared with its previous close of Rs 179.40. Around 3.7 lakh shares changed hands today at BSE.

The price of the scrip shot up after RBI's announcement allowing FII buying upto 49 per cent in the stock. The company has strong expansion plans and expects a 7-8 per cent growth in revenues for the quarter ended Sep 2005.

In the software segment, the company focusses on financial services, transportation and retail.