NIIT Tech slumps after earnings halve

Reuters Market Eye - Shares in NIIT Technologies Ltd slump more than 7 percent on Wednesday, adding to Tuesday's 11.8 percent fall after company's April-June profit halved to 448.2 million rupees ($7.46 million) due to spending cuts at two major U.S.-based clients.

"US geography had a setback when two clients in the BFSI (Banking, financial services and insurance) segment scaled down their business impacting overall growth in the region," the company said in statement on Tuesday.

(Reporting by Abhishek Vishnoi)