Trending stocks: NIIT Technologies shares gain nearly 1%

NEW DELHI: Shares of NIIT Technologies Ltd. traded 0.71 per cent up in Wednesday's trade at 10:32AM (IST). Around 3,206 shares changed hands on the counter.

The counter opened at Rs 1336.85 and touched an intraday high and low of Rs 1368.8 and Rs 1322.65, respectively, in the session so far. The stock of NIIT Technologies Ltd. quoted a 52-week high of Rs 2057.0 and a 52-week low of Rs 739.05.

Total market cap of the NIIT Technologies Ltd. stood at Rs 8486.76 crore at the time of writing this report.


Majority of NIIT Technologies shareholders have voted in favour of changing the company's name to 'COFORGE', according to regulatory filings.


Key Financials
The company reported consolidated net sales of Rs 1109.3 crore for the quarter ended 31-Mar-2020, up 3.34 per cent from previous quarter's Rs 1073.4 crore and up 14.1 per cent from the year-ago quarter's Rs 972.2 crore.

The net profit for latest quarter stood at Rs 113.6 crore, up 7.68 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, domestic institutional investors held 6.17 per cent stake in the company, while foreign institutional investors held 14.49 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 19.11 and a price-to-book ratio of 3.54. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

NIIT Technologies Ltd. belongs to the IT Consulting & Software - Mid Cap industry.