NIIT Technologies gains after overseas order win

NIIT Technologies rose 2.4% to Rs 556.30 at 14:43 IST on BSE after the company was selected as a strategic partner by Ofcom, the UK's communications regulator.

Meanwhile, the BSE Sensex was down 144.18 points, or 0.58%, to 24,680.86

On BSE, so far 33,197 shares were traded in the counter, compared with an average volume of 56,431 shares in the past one quarter. The stock hit a high of Rs 571 and low of Rs 549.15 so far during the day. The stock hit a 52-week low of Rs 335 on 26 March 2015. The stock hit a record high of Rs 632 on 18 November 2015. The stock had underperformed the market over the past one month till 11 January 2016, falling 8.16% compared with 0.88% decline in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 22.69% as against Sensex's 8.33% decline.

The mid-cap company has an equity capital of Rs 61.14 crore. Face value per share is Rs 10.

NIIT Technologies before market hours today, 12 January 2016 said that the company was selected as a strategic partner by Ofcom, the UK's communications regulator. NIIT Technologies will help Ofcom manage its infrastructure and application systems and offer a customer focused service to improve the users' experience of ICT services. The value of the contract is 23 million over a six year period which includes an initial term of 4 years and extensions, NIIT Technologies said.

As a strategic partner, NIIT Technologies will implement a dedicated service delivery model and new service management processes and tools. Key services will include the service desk, data centre services, application management and project management, the company said.

On a consolidated basis, NIIT Technologies' net profit rose 16.58% to Rs 68.20 crore on 4.65% increase in total income to Rs 679.20 crore in Q2 September 2015 over Q1 June 2015.

NIIT Technologies is a leading global IT solutions organization, servicing customers in Americas, Europe, Middle East, Asia and Australia. It offers services in application development and maintenance, infrastructure management, IP asset or platform solutions, business process management and digital services to organisations in the financial services, travel & transportation, manufacturing/distribution and government sectors.

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