Buy NIIT Technologies, target Rs 640: JM Financial

JM Financial has a buy call on NIIT Technologies with a target price of Rs 640.

The current market price of NIIT Technologies is Rs 542.45.

Time period given by analyst is a quarter when NIIT Technologies price can reach defined target.

NIIT Technologies, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 3349.15 crore) operating in Information Technology sector.

NIIT Technologies key Products/Revenue Segments include Sale of services which contributed Rs 1423.36 crore to Sales Value (96.97 % of Total Sales) and Software & Others which contributed Rs 44.45 crore to Sales Value (3.02 % of Total Sales)for the year ending 31-Mar-2016.

For the quarter ended 30-06-2017, the company has reported a Consolidated sales of Rs 708.90 crore, up 59.81% from last quarter Sales of Rs 443.58 crore unchanged from last year same quarter Sales.

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. Company has S R Batliboi & Associates LLP as its auditors. As on 31-03-2017, the company has a total of 61,362,174 shares outstanding.