Coforge Ltd.

NIIT Technologies is currently trading at Rs 342.00, down by 8.75 points or 2.49% from its previous closing of Rs. 350.75 on the BSE.

The scrip opened at Rs. 354.00 and has touched a high and low of Rs. 357.60 and Rs. 340.00 respectively. So far 9531 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. 407.65 and Rs. 340.00 respectively. The current market cap of the company is Rs. 2109.10 crore.

The promoters holding in the company stood at 30.90% while Institutions and Non-Institutions held 50.83% and 18.28% respectively.

NIIT Technologies’ subsidiary and its client in the APAC region have locked horns and a dispute has arisen between them which may result in claims & counter claims.

The company is exploring various options to resolve the dispute. In line with the company’s accounting policy, the company shall be providing up to a value of $10 million, towards unbilled revenue, during the current quarter.

NIIT Technologies is a leading IT solutions organization, servicing customers in North America, Europe, Middle East, Asia and Australia. It offers services in application development and maintenance, managed services, IP Asset or platform solutions, and business process outsourcing to organizations in the financial services, travel & transportation, manufacturing/distribution, healthcare and government sectors.