NIIT Ltd, just a few minutes after the market opened for trading announced some good news.
It stated that NIIT (USA) Inc., USA, its wholly owned subsidiary has signed a Managed Services agreement with a US based EdTech company to provide virtual services to education providers.
The term of the agreement is 5 years.
Both companies see this as a significant partnership where two market leaders go-to-market jointly to provide innovative solutions in the testing and certification marketplace.
No financial details of this agreement have been mentioned.
The stock opened with a gain of over 2% at Rs.82.45, rising to an intraday high at Rs.89.75, a jump of over 11%.