NIIT Tech has target of Rs 218: Vishal Jajoo

NIIT Technologies has target of Rs 218, says Vishal Jajoo, Nirmal Bang Sec.

Jajoo told CNBC-TV18, "For FY10 and FY11 NIIT Tech posted excellent set of numbers, the net sales surged 35% to clock a turnover in excess of Rs 1200 crore, net profit was up 44%, the same trend was witnessed in their Q1 numbers."
He further added, "This company is debt free and has cash per share, which is almost equivalent to 15% of the present market capitalization. The management has given aggressive guidance and this management is known for achieving its guidance. The past track record of the company is also phenomenal, this company is available at less than 6 times forward earnings that is what we expect as far as FY13 earnings goes. So the target for NIIT Tech for the day is Rs 218."