Buy NIIT Tech, tgt Rs 183 : PINC

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Buy NIIT Tech, tgt Rs 183 : PINC

PINC has maintained buy rating on NIIT Technology with target price of Rs 183. NTL being able to compete effectively in its target markets and its commitment to expand non-linear revenues.

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PINC has maintained buy rating on NIIT Technology with target price of Rs 183 in its June 23, 2008 report. "NIIT Technologies Ltd. (NTL) is amongst the leading mid tier Indian IT service companies and over the years has built up commendable domain expertise in verticals such as Travel/Transportation, Retail, Manufacturing and BFSI. Focussing on select verticals has not only enabled it to emerge as a niche player but also ensured that it has been able to nurture long term client relationships and thus compete effectively. It has also recently put in place a long term non-linear strategy to reduce dependency on headcount with Room Solutions expected to be a leading driver for non-linear revenues. With NTL being able to compete effectively in its target markets and its commitment to expand non-linear revenues, we initiate coverage on NTL with a 'BUY' recommendation and a 12 month price target of Rs 183" according to PINC report.