NIIT Ltd Receives Rs 844 Mln Gujarat Schools Contract

NIIT Ltd Receives Rs 844 Mln Gujarat Schools ContractNIIT Ltd has announced that it entered into an agreement with the Department of Education, Gujarat.

The IT training firm said that the deal has been signed in order to provide computer aided learning in 1,870 high as well as higher secondary government schools for classes 9-12 in Gujarat.

The five year contract, which is valued at Rs 843.81 million, would impact approximately 900,000 pupils across the state.

Mr. L Balasubramanian, President, NIIT Ltd School Learning Solutions, said, "We are honoured to partner with the Department of Education, Gujarat for the first time, in their initiative to promote computer education across 1,870 government schools in the state. The confidence placed in us by two new states, Gujarat and Rajasthan, bears testimonial to our cause."

Based on its perfect track record of offering up best ICT education solutions in schools NIIT pocketed the majority share of the agreement granted by the Gijarat government.

Earlier, the company received contracts from the state governments of Andhra Pradesh, Rajasthan, Bihar and Maharashtra.

NIIT surged to a high of Rs 34.70, up 11%, after receiving the deal.

The stock however, could not hold gains and is now up 2% at Rs 31.85. Around 587,191 shares have changed hands at the BSE thus far. (11:34 p. m.)