NIIT gains on securing training services contract

NIIT rose 1.87% to Rs 46.20 at 14:44 IST on BSE after the company announced securing a three-year contract to provide managed training services to Vestas Wind Systems A/S, a leading global wind energy company headquartered in Aarhus, Denmark.

The announcement was made during market hours today, 22 January 2015.

Meanwhile, the BSE Sensex was up 48.15 points, or 0.17%, to 28,937.01

On BSE, so far 4.17 lakh shares were traded in the counter, compared with an average volume of 3.84 lakh shares in the past one quarter.

The stock hit a high of Rs 47.50 and a low of Rs 45 so far during the day. The stock hit a 52-week high of Rs 65.60 on 13 June 2014. The stock hit a 52-week low of Rs 23.10 on 13 February 2014.

The stock had underperformed the market over the past one month till 21 January 2015, falling 6.49% compared with the Sensex's 5.54% rise. The scrip had also underperformed the market in past one quarter, falling 1.73% as against Sensex's 8.7% rise.

The small-cap company has an equity capital of Rs 33.03 crore. Face value per share is Rs 2.

With this contract, NIIT's Corporate Learning Group will provide learning administration, strategic sourcing, custom content development and LMS services to Vestas for a period of three years.

Vestas' partnership with NIIT provides our employees access to virtual and classroom best in class programs, around the globe. It also aligns with Vestas' strategy of flexibility and cost-efficiency, as we move into new regions to support the needs of our wind turbine customers, said Roald Steen Jakobsen, Group Senior Vice President/People & Culture, Vestas Wind Systems.

NIIT reported net loss of Rs 16.07 crore in Q3 December 2014, higher than net loss of Rs 15.05 crore in Q3 December 2013. Net sales rose 2.4% to Rs 117.15 crore in Q3 December 2014 over Q3 December 2013.

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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