NIIT gains on winning contract from Statoil ASA

The managed training services contract is a for a period of 10 years, renewable after the first five years

Shares of NIIT were up nearly 2% at Rs 39 after the company said that it has been awarded five to ten-year contrat to provide managed training services to Statoil, ASA. Statoil ASA is a multinational oil and gas company with headquarters located at Stavanger, Norway.

With this contract, NIIT's Corporate Learning Group, a leading provider of managed training service, will provide comprehensive managed training services for a period of five years, renewable after the first five years, the company said in a release.

The stock opened at Rs 39.15 and touched a high of Rs 40.35. At 1PM, over 460,000 shares were traded on both the stock exchanges.