PE funds eye NIIT Technologies

PRLog (Press Release) – Jul 11, 2008 – NIIT Technologies
CMP: Rs 141.90
Target price: Rs 245

http://birlaa.com/2007/09/28/pe-funds-eye-niit-tech/

KOTAK Securities has maintained ‘buy’ rating on NIIT Technologies though it said the company’s poor 4QFY08 results were below estimates on account of forex losses. It notes that the company’s IT services topline grew 7% while revenues from BPO operations were down by 10% quarter on quarter. Further, EBIDTA margins remained almost flat despite rupee depreciation.

http://birlaa.com/2007/12/26/buy-niit-target-rs-187/

The company has reiterated that it remains unaffected by US economic issues till date. It says that new order intake is higher and the India business (although lower margin ) is growing faster. Kotak Securities says that upside exists from potential entry of strategic/financial partner through the parent NIIT’s 25% stake. But it warns that a prolonged recession in major user economies and a sharper-than-expected appreciation in rupee against major currencies would not augur well for the company.


http://birlaa.com/2008/06/14/niit-technologies/