NIIT Learning Lists at 9.6 percent discount to issue price

NIIT Learning Lists at 9.6 percent discount to issue price

NIIT Learning listed today on the stock markets with almost 10 percent discount to issue price. The shares of NIIT Learning listed at Rs 366 per share compared to issue price of Rs 405. Indian markets were trading flat this morning as there is lack of triggers for the market. The US and European markets were mixed on Monday.

NIIT Learning was demerged from NIIT in May this year as the company created two entities. Each shareholder of NIIT received one share of NIIT Learning after the demerger.

The demerged NIIT unit reported earnings before interest, taxes, depreciation, and amortisation (EBITDA) at Rs 315 crore. The profit after tax (PAT) came in at Rs 192 crore. The company has strong potential in learning space. The fourth quarter revenue was up by six percent compared to the last quarter.

As per market estimates, NIIT Learning could continue to grow at 20 percent and the net margins for the company could remain above 20 percent in the coming quarters.

While NIIT Learning has been performing well, the secondary market is not impressed by the valuations. It will be important to see at what levels the stock closes in today’s session.

Business News: 
Companies: 
Regions: