NIIT gains after announcing strategic partnership with HP

NIIT rose 1.53% to Rs 96 at 12:40 IST on BSE after the company announced entering into a strategic partnership with HP for offering Post Graduate Certificate Program in software testing.

The announcement was made during market hours today, 7 December 2015.

Meanwhile, the S&P BSE Sensex was down 75.65 points or 0.3% at 25,562.46

On BSE, so far 4.41 lakh shares were traded in the counter as against average daily volume of 8.01 lakh shares in the past one quarter.

The stock hit a high of Rs 97.80 and a low of Rs 94 so far during the day. The stock had hit a 52-week high of Rs 104.75 on 20 October 2015. The stock had hit a 52-week low of Rs 34.95 on 27 March 2015.

The stock had outperformed the market over the past one month till 14 October 2015, rising 3.62% compared with 3.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 39.04% as against Sensex's 4.13% decline.

The small-cap company has equity capital of Rs 33.07 crore. Face value per share is Rs 2.

NIIT said that the Post Graduate Certificate Program in software testing will enable learners to apply key testing skills and practices using HP tools. The program will enable students to understand the intricacies of software testing and quality assurance, unified functional testing essentials, application lifecycle management, and LoadRunner essentials, NIIT said.

According to NASSCOM, the software testing outsourcing market is expected to grow from $30 billion in 2010 to $50 billion in 2020 worldwide and India is expected to be the biggest beneficiary. Further as per Gartner and IDC, there has been a steep rise in organizations practicing mobile, testing from 31% in 2012 to 95% in 2015.

On consolidated basis, NIIT's net profit rose 38.66% to Rs 20.80 crore on 15.35% rise in net sales to Rs 267.40 crore in Q2 September 2015 over Q1 June 2015.

NIIT, a global leader in skills and talent development, offers multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries. The company has three main lines of business across the globe - corporate learning group, skills and careers group, and school learning group.

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