NIIT Technologies makes a sparkling debut

DALAL STREET SPIKES

NIIT Technologies made a sparkling debut at the bourses on Monday. The stock opened at Rs 146 on the BSE and soared to an intra-day high of Rs 199.10, before closing at Rs 193.85.

The counter witnessed strong volumes of more than 14.33 lakh shares on the BSE and accounted for more than 34.98 lakh shares on the NSE.

The scrip has a face value of Rs 10. According to market analysts, an upbeat sentiment in the technology sector helped NIIT Technologies gain on the first day of the listing.

NIIT technologies was listed after completing a restructuring. The restructuring involved NIIT's shareholders receiving 50 shares of the de-merged NIIT and 75 shares of NIIT Technologies, in lieu of 100 shares in NIIT.

Meanwhile, NIIT ended almost flat and closed at Rs 156 against its previous close of Rs 158.80.