Bangalore: NIIT Technologies Limited stock was among top gainers after price went up by nearly 9 percent. After opening the day at 189.95, the stock touched its 52 week high of 234.90, before closing the trade at 189.50, with gain of 9.23 percent.Through the day,36574 shares of NIIT Technologies Limited were traded in the market. NIIT Technologies Limited is an information technology (IT) solutions organization servicing customers in North America, Europe, Asia and Australia. The Company focuses on customers in the banking, financial services and insurance, travel transportation and logistics, and retail and distribution sectors, offering services in application development and management, enterprise solutions and managed services. It also offers business process outsourcing and geographic information system (GIS) solutions through its subsidiaries. The Company's service offerings include application development and management, package implementation, managed services, platform based services, business process outsourcing, GIS and cloud computing. NIIT Technologies Limited won BSF contract worth 228cr.At the CMP of 182, the stock is currently trading at 6.7xFY11E and 5.9xFY12E earnings. We maintain our BUY recommendation with a target price of 278 based on 9xFY12E earnings.EBITDA margin is higher as compared to peers among the mid tier IT vendors.