NIIT hits a new high

NIIT hit a new 52-week high today at Rs.98.50 and it remains strongly in the green, at Rs.96 levels, up around 4%. Volumes have gone up almost 6 times.

The stock hit a high on the back of its announcement that it has launched NIIT.tv, an internal TV portal. This is a TV which can be accessed on a computer, laptop or smartphone, anytime and anywhere.

This TV will bring skilling from NIIT classrooms to every digitally connected Indian, for free. In the initial phase, over 20 skill-based training programs in IT, Banking, Finance, Retail and Management will be made available through this platform adding that it will update the content and launch new courses as per industry requirements.

Additionally, Polunin Emerging Markets Small Cap Fund LLC (Smallus) bought 11.11 lakh shares in the company at Rs.84.46 on the NSE.  FII holding at end of Q1FY16 stood at 12.80%.