NIIT Tech Drops; 6.5 % Stake Sold in Block Sale

BSE-listed shares of NIIT Technologies fell as much as 10.4 percent after the BSE showed 3.92 million shares, or 6.53 percent of the market capitalization, changed hands at Rs 267 a share via block deals for a total value of Rs 1.05 billion.

The block deal has happened at a significant discount to NIIT's closing price of Rs 297.85 on Aug. 2, 2012.

Shares of the small provider of software training and education services were last down 5.57 percent.