Buy NIIT Technologies; target Rs 1180: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on NIIT Technologies with a target price of Rs 1180. The current market price of NIIT Technologies is Rs 1156.35. Time period given by analyst is Intra Day when NIIT Technologies price can reach defined target. Dr CK Narayan recommended to keep stoploss at Rs 1142. NIIT Technologies, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 7124.89 crore) operating in Information Technology sector.

NIIT Technologies key Products/Revenue Segments include Sale of services which contributed Rs 1619.60 crore to Sales Value (98.40 per cent of Total Sales) and Software Products which contributed Rs 26.30 crore to Sales Value (1.59 per cent of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 907.40 crore, up 10 per cent from last quarter Sales of Rs 824.90 crore and up 23.09 per cent from last year same quarter Sales of Rs 737.20 crore Company has reported net profit after tax of Rs 116.70 crore in latest quarter. The company’s top management includes Mr.Amit Sharma, Mr.Arvind Thakur, Mr.Ashwani Puri, Mr.Rajendra S Pawar, Mr.Surendra Singh, Mr.Vijay K Thadani, Ms.Holly Jane Morris.