In order to simplify operations, rationalize low return, high risk and capital intensive business and create space for growth, NIIT Institute of Process Excellence Limited (NIPE) and NIIT Yuva Jyoti Limited (NYJL), wholly owned subsidiaries of the Company, shall transfer their business, contractual obligations and all assets & liabilities to the Company. Further NYJL and NIPE shall be closed to conserve the management and administrative costs, as per appropriate legal process.
The Board of Directors of NYJL and NIPE, respectively have recommended the voluntary liquidation of the respective company in accordance with the applicable laws. The Company has approved the proposal of voluntary liquidation as shareholder of NYJL and NIPE, in accordance with applicable laws.
Shares of NIIT LTD. was last trading in BSE at Rs.113.2 as compared to the previous close of Rs. 106.25. The total number of shares traded during the day was 154117 in over 3712 trades.
The stock hit an intraday high of Rs. 113.8 and intraday low of 106.85. The net turnover during the day was Rs. 17053122.