NIIT gains after securing training services contract from Citi

NIIT rose 3.21% to Rs 94.80 at 15:06 IST on BSE the company was awarded a multi-year contract to provide managed training services to Citi in the Europe, Middle East and Africa region.

The announcement was made during market hours today, 15 October 2015.

Meanwhile, the S&P BSE Sensex was up 244.98 points or 0.91% at 27,024.64

On BSE, so far 26.01 lakh shares were traded in the counter as against average daily volume of 9.69 lakh shares in the past one quarter.

The stock hit a high of Rs 99.50 and a low of Rs 92.15 so far during the day. The stock had hit a 52-week high of Rs 100.85 on 8 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 33.79% compared with 3.57% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 79.57% as against Sensex's 4.13% decline.

The small-cap company has equity capital of Rs 33.04 crore. Face value per share is Rs 2.

With this new partnership, NIIT's Corporate Learning Group will source and manage third party training procured by Citi across EMEA.

Sapnesh Lalla, President, NIIT Corporate Learning Group said that NIIT will focus on supporting learning transformation for Citi to meet their future goals with high quality managed training services aligned with increased business impact and value

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

On consolidated basis, NIIT reported net profit of Rs 15 crore in Q1 June 2015 as against net loss of Rs 151.23 crore in Q4 March 2015. Net sales rose 4.34% to Rs 233.20 crore in Q1 June 2015 over Q4 March 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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