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NIIT Technologies To Be Renamed Coforge Limited; Shares Up 18%

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After its quarterly numbers released post market hours on Tuesday share of IT company NIIT have surged as much as 18% in intra-day session on Wednesday (May 6, 2020). The company reported healthy quarterly results with revenue up 19% y-o-y and net profit higher by 7.7% y-o-y to Rs. 113.6 crore.

 
NIIT Technologies To Be Renamed Coforge Limited; Shares Up 18%

Of the overall income, digital revenue at the firm stood at 38%.

The company has declared third interim dividend for the FY20 of Rs. 11 per equity share.

This shall be paid off within 30 days of declaration of dividend.

Also, the company's board has approved the change in the company's name to Coforge Limited. "The name availability is granted by the office of Registrar of Companies, Ministry of Corporate Affairs, Government of India vide its letter dated April 27, 2020," NIIT Tech said.

Last,the stock of NIIT traded at Rs. 1390.25 up by Rs. 201.80 or 16.98% on the BSE.

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