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market | IST

Momentumisers: Key factors behind NIIT's surge

Mini

Yesterday, November 16, NIIT Limited was up 7 percent and reached a lifetime-high; over the past five days it has moved up as much as 38 percent and is backed by big volumes as well.

Yesterday, November 16, NIIT Limited was up 7 percent and reached a lifetime-high; over the past five days it has moved up as much as 38 percent and is backed by big volumes as well, just the five-day volumes are up 2.5 times as compared to its one-month average volume and similarly its deliverable volumes are also 1.9 times its average one-month volumes.
Considering that it has seen such a sharp upmove over the last few days, its supports are a little further away from the current market price of Rs 442. Its three days low is around Rs 349 and its 20-day moving average (DMA) is at Rs 339.
The reason, of course, behind such an upmove is strong earnings, a 40 percent growth on a year-on-year basis, but the management has also upped its guidance for the full year and that's the reason why there is so much strength in NIIT Limited.
Watch the accompanying video of CNBC-TV18’s Agam Vakil for more details.