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NIIT Technologies: Quality hard to ignore, but is the price justified?

While the superior execution should command a premium, the run-up in the stock leaves little valuation comfort. We advise investors to wait for any weakness to gradually buy the stock.

January 30, 2020 / 11:14 AM IST
NIIT Technologies: Quality hard to ignore, but is the price justified?

Highlights NIIT Tech delivered a good quarter Revenue performance subdued in a seasonally weak period Margin steady Deal win strong with 4 large deals Outlook on deal pipeline robust Run up in stock caps upside, buy on correction NIIT Technologies (CMP: Rs 1938, Market Cap: Rs 12,115 crore), the most expensive stock in our IT coverage universe, continues to justify its outperformance and valuation by delivering another strong quarter in a seasonally weak period. Strong deal wins in the December quarter, a healthy order backlog...

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