NIIT Technologies hogs limelight

NIIT Technologies jumped 4.7% to Rs 557 at 15:26 IST on BSE after the company said in its investor meet presentation submitted to the stock exchanges that it secured several large deals in the Infrastructure Management Services segment in FY 2016.

Meanwhile, the S&P BSE Sensex was off 238.79 points or 0.9% at 26,396.96.

On BSE, so far 34,768 shares were traded in the counter as against average daily volume of 20,772 shares in the past one quarter. The stock hit a high of Rs 558 and a low of Rs 523.50 so far during the day. The stock had hit a record high of Rs 632 on 18 November 2015. The stock had hit 52-week low of Rs 372 on 16 June 2015. The stock had outperformed the market over the past one month till 10 June 2016, surging 12.82% compared with the Sensex's 3.35% rise. The scrip had also outperformed the market in past one quarter, gaining 14.29% as against the Sensex's 8.17% rise.

The mid-cap company has equity capital of Rs 61.21 crore. Face value per share is Rs 10.

The Infrastructure Management Services (IMS) segment contributed 17% to the company's total revenue in the year ended 31 March 2016 (FY 2016). NIIT Technologies also said in its investor meet presentation that the total order intake of the company was more than $120 million each in Q3 December 2015 and Q4 March 2016. At the time of announcement of its Q4 March 2016 results in early last month, NIIT Technologies had announced that it had order backlog of $301 million executable over the next 12 months.

NIIT Technologies' consolidated net profit rose 6.53% to Rs 79.05 crore on 0.13% fall in net sales to Rs 677.76 crore in Q4 March 2016 over Q3 December 2015.

NIIT Technologies provides IT outsourcing services to clients in travel and transportation, banking and financial services, insurance, manufacturing and media verticals.

Powered by Capital Market - Live News