Trending stocks: NIIT Technologies shares jump nearly 6%

NEW DELHI: Shares of NIIT Technologies Ltd. traded 5.91 per cent up in Friday's trade at 10:45AM (IST). Around 33,490 shares changed hands on the counter.

The stock opened at Rs 1452.0 and touched an intraday high and low of Rs 1544.0 and Rs 1448.0, respectively, in the session so far. The stock of NIIT Technologies Ltd. quoted a 52-week high of Rs 2057.0 and a 52-week low of Rs 739.05.

Total market cap of the NIIT Technologies Ltd. stood at Rs 9588.85 crore at the time of writing this report.

The company said its Rs 337.4-crore buyback offer will commence from May 29. The company, in a regulatory filing, said Sebi had provided an extension for dispatching the letter of offer within 15 days from the closure of the lockdown as mandated by the government.

Key Financials
The company reported consolidated net sales of Rs 1109.3 crore for the quarter ended 31-Mar-2020, up 3.34 per cent from previous quarter's Rs 1073.4 crore and up 14.1 per cent from the year-ago quarter's Rs 972.2 crore.

The net profit for latest quarter stood at Rs 113.6 crore, up 7.68 per cent from the corresponding quarter last year.

Shareholding pattern
As of 31-Mar-2020, domestic institutional investors held 6.17 per cent stake in the firm, while foreign institutional investors held 14.49 per cent and the promoters 0.0 per cent.


Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 21.6 and a price-to-book ratio of 4.0. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

NIIT Technologies Ltd. belongs to the IT Consulting & Software - Mid Cap industry.