INSUBCONTINENT EXCLUSIVE:
Phillip Capital (India) has a neutral call on NIIT Technologies with a target price of Rs 1,440.
The current market price of NIIT
Technologies is Rs 1,295.50.
Time period given by the brokerage is one year when NIIT Technologies price can reach the defined target
View of the brokerage: We believe that with the much anticipated event (promoter stake sale) realizing and valuations bordering on the
The deal having been realized at price of Rs 1,394 per share means, that the fair value of the stock too, from a medium term perspective,
We have not made any changes to our FY20/21 estimates
We continue to value NITEC at 15x FY21 earnings
