NIIT Tech 'fly' high

NIIT Tech has hit a new 52-week high today at Rs.593.20; it had hit the previous high at Rs.586 on 20th Oct, post its Q2 results. Its life-time high stands at Rs.638.

The stock has hit a new 52-week high, reacting to the news it published yesterday – it has signed a long term strategic agreement with Dubai based, budget airline, flydubai. The agreement will enable flydubai to build airline-specific IT systems catering to all facets of its business. This will support flydubai's programme to deliver an enhanced passenger satisfaction.

The company plans to deliver these services through its state-of-the-art Global Delivery Center at its campus in Greater Noida. It will also provide support on software development projects with data center services through its Infrastructure Management Services.

No financial details of this agreement have been given.