BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains buy on NIIT Technologies
Religare has maintained "buy" call on NIIT Technologies but reduced target price on the stock to Rs 530 from Rs 550 earlier. NIIT Tech's Q2 earnings were in-line with estimates. Fresh order intake of NIIT Tech was solid, which provides revenue visibility and should drive margins. Management expects Q3 to be slower than Q2, but H2 to be better than H1. While higher tax rates primarily drive our FY17/FY18 EPS cuts of 13 per cent/ per cent, the stock looks cheap is cheap at 14 per cent free-cash-flow yield and 8 times FY18 estimated earnings.