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NIIT Technologies gains on getting nod for buyback program worth Rs 337.46 crore

26 Dec 2019

NIIT Technologies is currently trading at Rs. 1605.00, up by 7.30 points or 0.46% from its previous closing of Rs. 1597.70 on the BSE.

The scrip opened at Rs. 1610.20 and has touched a high and low of Rs. 1614.45 and Rs. 1602.00 respectively. So far 4351 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1642.05 on 17-Dec-2019 and a 52 week low of Rs. 1102.90 on 26-Dec-2018.

Last one week high and low of the scrip stood at Rs. 1626.00 and Rs. 1559.90 respectively. The current market cap of the company is Rs. 10029.43 crore.

The promoters holding in the company stood at 70.04%, while Institutions and Non-Institutions held 21.15% and 8.80% respectively.

NIIT Technologies has received an approval of Board for a buyback program worth Rs 337.46 crore. The firm's board of directors has approved buyback of up to 19,56,290 fully paid equity shares of a face value of Rs 10 each at a price of up to Rs 1,725 per share. This will add up to a value of a little over Rs 337.46 crore and represent 20.23 percent of the paid-up equity share capital and free reserves of the company. The buyback is proposed to be made from the company's shareholders under the tender offer route through the stock exchange mechanism.

NIIT Technologies is a leading global IT solutions organization servicing customers across the Americas, Europe, Asia, and Australia. NIIT Technologies services clients in travel and transportation, banking and inanely, services, insurance.

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