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NIIT Technologies surges on plan to acquire majority stake in Incessant Technologies

19 May 2015

NIIT Technologies is currently trading at Rs. 386.20, up by 5.55 points or 1.46% from its previous closing of Rs. 380.65 on the BSE.

The scrip opened at Rs. 383.00 and has touched a high and low of Rs. 389.90 and Rs. 383.00 respectively. So far 3169 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 486.00 on 11-Jul-2014 and a 52 week low of Rs. 328.00 on 19-May-2014.

Last one week high and low of the scrip stood at Rs. 389.90 and Rs. 365.00 respectively. The current market cap of the company is Rs. 2323.67 crore.

The promoters holding in the company stood at 30.88% while Institutions and Non-Institutions held 51.38% and 17.75% respectively.

NIIT Technologies has inked a strategic agreement to acquire majority stake in Incessant Technologies. Incessant will provide NIIT Technologies the capability to be a significant player in the digital integration space with digital legacy integration, digitization and automation of business processes for seamless customer experience.

The transfer of its stake will enable Incessant Technologies to build new capabilities, invest in Research and Development (R&D), expand in new geographies like North America and Europe and enter into new verticals such as travel and transportation.

NIIT Technologies is a leading global IT solutions organization, servicing customers in Americas, Europe, Middle East, Asia and Australia. It offers services in Application Development and Maintenance, Infrastructure Management Services, IP Asset or Platform Solutions, and Business Process Management to organizations.

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