April 8, 2019 / 4:50 AM / a month ago

BUZZ-India's NIIT Technologies shares fall; Baring Private Equity Asia to buy 30 pct stake

** IT solutions company NIIT Technologies Limited fall as much as 2.8 pct to 1,310.2 rupees, their biggest daily pct loss since Feb. 15

** Baring Private Equity Asia (BPEA) to acquire 30 pct stake in co from NIIT Limited and other promoter entities for aggregate consideration of about 26.27 bln rupees, co said in a statement here on Saturday

** BPEA will make an open offer to the public shareholders of co to purchase up to 26 pct additional shareholding at a price of 1,394 rupees per share

** About 461,423 shares change hands compared with the 30-day average of around 649,252 shares

** 17 of 19 brokerages rate the stock “buy” or higher, two “hold”; median PT 1,440 rupees - Refinitiv Eikon data

** As of Friday’s close, stock is up 17.29 pct so far this year

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