NIIT Tech Ties Up With SATS (11-Mar-2010)
NIIT Technologies, the global IT solutions provider, announced a strategic partnership with Singapore Airport Terminal Services (SATS), in order to jointly market as well as implement its state of art COSYS intelligent solutions (COSYS IS) to help air cargo ground handling agents improve their cargo handling capabilities.
According to Yacoab Piperdi, senior vice president (Cargo Services), SATS, the company first developed COSYS IS in order to manage its cargo customers handling requirements and its extensive hub operations in Singapore.
Subsequently, COSYS IS was deployed at our overseas operations as part of our value- adding contribution. It has proven to be a valuable operating tool."
NIIT Tech as part of the partnership agreement will utilize its global presence to market this solution to other ground handlers and airlines across the globe.
NIIT Technologies today closed at Rs.172.4, down by 0.26%.
The stock hit an intraday high of Rs.174 till now, as against the 52-week high of Rs.203.9.The stock hit a low of Rs.169 during the day. The stock had hit a 52-week low of Rs.42.5 on March 12, 2009.
The stock opens at Rs.173 at BSE. The total traded volume of the scrip on BSE till now stood at 42698.
Meanwhile today, the BSE Sensex closed up by 69.63 points, or 0.41% , at 17167.96.
The NSE Nifty closed higher by 17.15 points, or 0.34% , at 5133.4.
NIIT Technologies has an equity capital of Rs 58.77 crore as of 2009 Dec. The face value per share is Rs 10. At the current price of Rs 172.4, the P/E multiple stood at 11.4789480674724 with book Value of 51.07 and P/BV at 3.38.
The total shareholding pattern of the company as on Dec 2009 stood at Promoters- 39.62%, Institutional Investors- 25.83%, General Public- 22.33% and other investors- 12.21%.
Considering the current price of Rs. 172.4 at 3:57:00 PM , the stock had outperformed the market over the past one month till 11/03/2010 surged 9.01% as compared to the Sensex''s return of 7.02% and NSE Nifty''s 7.02 % returns.
Considering the current price of Rs. 172.4 at 3:57:00 PM , the stock had underperformed the market over the past one quarter till 11/03/2010 surged -2.3% as compared to the Sensex''s return of 0.41% and NSE Nifty''s 0.41 % returns.
Meanwhile, NIIT Technologies last month bagged a contract from Border Security Force (BSF) worth Rs. 228 crore intranet Prahari project.
The project involves setting up of complete infrastructure, network and applications to facilitate operations management, integrated financial activities and human resources management for the force.
NIIT Technologies is a global IT solutions organization, servicing customers in North America, Europe, Asia and Australia. It offers services in Application Development and Maintenance, Enterprise Solutions, Managed Services and Business Process Management to organizations
NIIT Technologies follows the higher standards of operations that Includes ISO 9001:2000 certification, assessment at Level 5 of both SEI-CMMI version 1.2 and People-CMM frameworks, ISO 27001 information security management certification.
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