Shares of NIIT continued their winning streak for the third consecutive session on Wednesday amid the company exploring new frontiers for skill development in the changing job landscape.
The stock of the leading talent development company rallied over 18 percent on Wednesday to hit a high of Rs 139 apiece on BSE.
The IT company's shares opened at Rs 121 apiece on BSE and surged as much as 18.5 percent. However, the shares pared early gains and were trading 15.89 per cent higher at Rs 135.77 apiece on BSE at 10:51 AM.
In the last three trading sessions, NIIT's share price has surged more than 40 percent. Moreover, the shares have gained more than 60 percent in the past month.
Market experts believe that share prices have reacted sharply to the positive commentary given by Rajendra Singh Pawar, the chairman and co-founder of NIIT Ltd.
In an interview with CNBC-TV18, Pawar highlighted that the company's strategic shift towards exploring new sectors to address evolving skill needs in the job market.
"We don't see a very big uptake in new jobs in the near term. But we see the need for change in skills. We are looking for the horizon for new sectors that are emerging in this country right now,” he started.
Pawar explained that the company is looking at newer sectors to make new offerings as India is poised for growth on multiple dimensions and that work is in progress.
“I think the most interesting part is the role of AI," he added.
NIIT management has set an ambitious target of achieving revenues of Rs 1,200 crore by FY27-28.
With today's gain in the share price, the company commands a market capitalisation of over Rs 1,800 crore.
(Edited by : Asmita Pant)
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