Sell NIIT Technologies target Rs 470: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has sell call on NIIT Technologies with a target price of Rs 470.
The current market price of NIIT Technologies is Rs 498.6.
Time period given by analyst is intraday when NIIT Technologies price can reach defined target.
Chandan Taparia recommended to keep stoploss at Rs 508.

NIIT Technologies, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 3046.17 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 Rs of Total Sales) and Software & Others which contributed Rs 44.45 Crore to Sales Value (3.02 Rs 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 Rs from last quarter Sales of Rs 443.58 Crore and unchanged from last year same quarter Sales.
Company has reported net profit after tax of Rs 55.50 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 S R Batliboi & Associates LLP as its auditors.
As on 30-06-2017, the company has a total of 61,396,174 shares outstanding.