Revenue of the company grew 8 percent to Rs 239.7 crore in the quarter under review from Rs 222.8 crore in the year-ago period
NIIT Tech has made rapid strides in its business in the last few years that has seen revenue run rate accelerating, deal momentum gathering pace and operating margin improving from 14% in FY15 to 18% now.
Funds affiliated with Baring Private Equity Asia will buy about 30 percent stake in NIIT Technologies from NIIT Ltd and other promoter entities for about Rs 2,627 crore.
NIIT has entered into a managed learning services contract with Signify in this regard.
Good support for Nifty at 10840-10860. Till this level is intact one should trade with positive bias
The amalgamation of both companies into NIIT Limited was sanctioned by National Company Law Tribunal on November 12, 2018.
NIIT Technologies is the listed technology services subsidiary of NIIT which provides computer coaching and IT training.
Among private equity funds, the company has reportedly sounded out Bain Capital, Blackstone, Carlyle, Apax Partners and Advent for the purpose
Kotak Securities is bullish on NIIT has recommended buy rating on the stock with a target price of Rs 110 in its research report dated October 29, 2018.
During the reported quarter, the skills and talent development company posted net revenue of Rs 228.5 crore, up 10 per cent year-on-year, NIIT said in a statement.
Kotak Securities is bullish on NIIT Ltd has recommended buy rating on the stock with a target price of Rs 125 in its research report dated July 30, 2018.
The company, which focuses on corporate training wherein it imparts skills to freshers as well as re-skills the existing staff, will be catering to 15,000 students in the current year, NIIT chief executive officer Sapnesh Lalla told reporters here.
NIIT will train around one lakh youth in three years for career opportunities in leading corporates in the IT and BFSI sectors through this initiative
Its revenue, however, increased by 6 percent to Rs 222.8 crore in January-March of 2017-18 compared to Rs 209.4 crore in the year-ago period, NIIT said in a statement.
The market breadth was in favour of the advances with 997 stocks advancing while 679 declined and 377 remained unchanged. On the other hand, in the BSE, 1394 stocks advanced and 1079 declined and 146 remained unchanged.
Its net revenue was up 4 per cent to Rs 209.4 crore in the third quarter of 2017-18, from Rs 202 crore in the year- ago period.
The acquisition will help NIIT expand its training capability for global rollout of cloud-based enterprise applications in the pharmaceutical and life sciences industry, NIIT said in a statement.