NIIT rises over 2% on higher demand for training

Shares of IT education player NIIT rose 2.2% to 55.80 on Tuesday in a weak market, as investors are hoping that the company would be less affected by rising interest rates and higher inflation.

The company has been witnessing a rise in number of people enrolling for training programmes over the past six months, an analyst tracking the company said.

Brokers tracking the stock said the company is also expected to bag several rights for conducting computer education in private schools.

But a section of the market is cautious about the stock's prospects as a slowdown in corporate earnings due to higher costs could slowdown hiring, thereby resulting in a decline in enrolment for such courses.

(Contributed by Shailesh Menon)