NIIT Tech gains on Credit Suisse outperform report

NIIT Technologies rose 2 percent in early trade on Tuesday after the foreign research house Credit Suisse put an outperform rating on the stock.

The target price for the stock is Rs 350, says the report.
 
"The management is confident of growing faster than the industry average in financial year 2013-14. It is seeing a strong traction in the travel and insurance verticals and the government business should also continue to ramp up at a steady pace," Credit Suisse reasoned.

At 10:19 hours IST, shares gained 0.63 percent to Rs 271.25 on Bombay Stock Exchange.

The share touched its 52-week high Rs 324.80 and 52-week low Rs 245.00 on 13 September, 2012 and 18 February, 2013, respectively.
 
Currently, it is trading 16.49% below its 52-week high and 10.71% above its 52-week low.