Buy NIIT, target price Rs 319: ICICI Direct

ICICI Direct has buy call on NIIT with a target price of Rs 319. The current market price of NIIT Ltd. is Rs 287.35
Time period given by analyst is 14 days when NIIT Ltd. price can reach defined target.

NIIT Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 3803.21 Crore) operating in Services sector.


Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 284.92 Crore, up 2.57 % from last quarter Total Income of Rs 277.77 Crore and up 21.06 % from last year same quarter Total Income of Rs 235.35 Crore. Company reported net profit after tax of Rs 46.96 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to continue with its strong up move and head towards Rs 319 levels in the coming weeks being the 123.6% external retracement of its recent breather (Rs 307-257) placed at Rs 319 levels.