NIIT Technologies moves up on getting part payment of Rs 41.9 crore

05 Apr 2017

NIIT Technologies is currently trading at Rs. 435.05, up by 0.40 points or 0.09% from its previous closing of Rs. 434.65 on the BSE.

The scrip opened at Rs. 434.65 and has touched a high and low of Rs. 439.00 and Rs. 434.65 respectively. So far 3449 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 587.60 on 15-Jun-2016 and a 52 week low of Rs. 370.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 439.00 and Rs. 415.80 respectively. The current market cap of the company is Rs. 2675.39 crore.

The promoters holding in the company stood at 30.72%, while institutions and non-institutions held 51.50% and 17.78% respectively.

NIIT Technologies has received a part payment amounting to Rs 41.9 crore under a settlement agreement. This will result in revenue recognition of Rs 27.1 crore for services contracted, and reversal of provisions amounting to Rs 13.15 crore in the financial statement of the Company for FY 2017.

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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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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