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NIIT share price rises over 11% on agreement with US-based EdTech company

Share price of NIIT ended over 7% higher at Rs 86.40 compared to the previous close of Rs 80.70 on BSE

Aseem Thapliyal | April 22, 2020 | Updated 18:58 IST
NIIT share price rises over 11% on agreement with US-based EdTech company
NIIT stock opened with a gain of 2.17% at Rs 82.45 and later rose 11.21% to intra day high of Rs 89.75 on BSE

NIIT share price closed higher in trade today after the company said its wholly owned subsidiary NIIT (USA) Inc has signed a managed services agreement with a US-based EdTech company to provide virtual services to education providers.

The term of the agreement is 5 years.

"Both companies see this as a significant partnership where two market leaders go-to-market jointly to provide innovative solutions in the testing and certification marketplace," said NIIT in a regulatory filing.

Share price of NIIT ended over 7% higher at Rs 86.40 compared to the previous close of Rs 80.70 on BSE. Post the announcement, NIIT stock opened with a gain of 2.17% at Rs  82.45 and later rose 11.21% to intra day high of Rs 89.75 on BSE.

Share Market Update: Sensex ends 742 points higher, Nifty at 9,187; Zee Ent, RIL, Asian Paints top performers

The small cap stock traded higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. However, it has lost 17.83% during last one year and fallen 7.79% since the beginning of this year. In the last one month, the stock has gained 29.54%.

NIIT stock touched its 52-week high of Rs 115.55 on  January 9, 2020 and 52-week low of Rs 53.55 on March 23 , 2020, respectively.

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