Sell NIIT Technologies, target Rs 1028: Jay Thakkar

Jay Thakkar of Anand Rathi has a sell call on NIIT Technologies Ltd. with a target price of Rs 1028. The current market price of NIIT Technologies Ltd. is Rs 1068.25. Time period given by the analyst is Intra Day when NIIT Technologies Ltd. price can reach defined target. Jay Thakkar recommended to keep stop loss at Rs 1089.

NIIT Technologies Ltd., incorporated in 1992, is a mid-cap IT company with a market cap of Rs 6565.42 crore. NIIT Technologies Ltd. key Products/Revenue Segments include Sale of services which contributed Rs 1587.50 Crore to Sales Value (99.52 % of Total Sales) and Software & Others which contributed Rs 7.60 Crore to Sales Value (0.47 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 31-03-2018, the company has reported a Consolidated sales of Rs 788.80 Crore, up 4.27 % from last quarter Sales of Rs 756.50 Crore and up 5.92 % from last year same quarter Sales of Rs 744.69 Crore Company has reported net profit after tax of Rs 97.30 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. Company has Price Waterhouse as its auditoRs As on 31-03-2018, the company has a total of 61,456,124 shares outstanding.