This small-cap IT company acquired a US-based talent development firm
After the news, the stock surged 12.92 per cent on November 7
NIIT Limited acquired a US-based St Charles Consulting Group (STC).
St Charles Consulting is well-known for its extensive knowledge and experience in developing high-demand strategic learning programmes. Its goal is to advance overall strategy, address strategic business priorities, and launch major initiatives at large companies that are in high demand among globally established institutions.
On October 28, 2022, on earning call the Managing Director and Vice Chairman of NIIT Limited said “We are committed to the deployment of the cash in the balance sheet for further investments in profitable growth and new capabilities on the back of the investment that we made in a company called KNOLSKAPE in the last quarter”.
NIIT has two business verticals, Corporate Learning Group (CLG) and Skills and Careers Business (SNC).
Under the CLG segment, the company offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania.
Under SNC, the company delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance and Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT.
The stock has a 52-week high of Rs 658.55 and a 52-low of Rs 271. The stock is currently trading at PE of 36.58x.