Ramesh Damani's Fresh Entry in Small-Cap Stock: The Investor Who Backed Defence Stock in 2019, Promoter Adds 17 Lakh+ Shares
Promoter also purchased 17,69,025 shares at an average price of Rs 118
On Friday, while the broader market indices traded within a narrow range, stock-specific activity was observed on Dalal Street, with NIIT Ltd. emerging as a standout performer. The Small-Cap stock caught investors' attention as its shares surged nearly 8 per cent, closing at Rs 128.25. This sharp rise was accompanied by a significant increase in trading volume, which surged over six times compared to the 10-day average on the NSE. The catalyst for this surge was an intriguing bulk deal that took place on the same day.
Notably, Ramesh Shrichand Damani, a well-known Indian investor with a reputation for astute stock market analysis and value investing, acquired 8,00,000 shares of NIIT Ltd. at an average price of Rs 127.55. Damani, a close associate of the late Rakesh Jhunjhunwala, has a track record of identifying promising stocks early in their growth trajectory. For instance, Damani has held a stake in Garden Reach Shipbuilders, a defense shipbuilding company, since 2019. Since then, the stock has delivered multibagger returns, highlighting Damani's keen investment acumen. Additionally, the Thadani Family Trust, through its trustee Vijay Kumar Thadani, also purchased 17,69,025 shares of NIIT Ltd. at an average price of Rs 118.
NIIT Ltd. is a key player within the NIIT Group, a global leader in digital talent development and managed training services. Established in 1981, the NIIT Group has been instrumental in addressing the human resource challenges of the nascent IT industry, and today ranks among the world's leading training organizations. With a presence in over 30 countries, the group delivers learning interventions that yield superior outcomes through its vast array of talent development programs. The group comprises NIIT Limited and NIIT Learning Systems Limited (NIIT MTS).
NIIT Ltd. offers a wide range of learning and talent development programs catering to both individual and corporate learners in cutting-edge domains. Its businesses include NIIT Digital, StackRoute, RPS Consulting, TpaaS, IFBI, and Sales and Service Excellence. As online and remote learning becomes increasingly mainstream, the robust NIIT Digital platform seamlessly connects corporate and individual learners, enhancing learning effectiveness and efficiency. Committed to its mission of deep-skilling the youth, NIIT Digital not only offers modern, online, instructor-led tech courses but also provides placement assurance, truly transforming the lives of its learners.
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Furthermore, IFBI stands as a leading provider of learning services for both fresh entrants and working professionals within India's BFSI sector.
Year-to-date, shares of NIIT Ltd. have risen by 12 per cent, reflecting growing investor confidence in the company's strategic direction and future potential.
Disclaimer: The article is for informational purposes only and not investment advice.