Stocks of Teamlease and NIIT surged quickly following Finance Minister Nirmala Sitharaman’s Union Budget 2024 announcement, which emphasized employment generation and skilling initiatives.
Teamlease shares surged by 5% as the budget highlighted new schemes aimed at increasing formal sector employment. The Finance Minister’s focus on creating job opportunities through schemes linked to the Employees’ Provident Fund Organisation (EPFO) has bolstered investor confidence in companies like Teamlease, which specializes in employment services.
As of 11:28 AM the shares of Teamlease were trading 3.90% higher at ₹3,022.95 on NSE
NIIT shares jumped by 7%, driven by the budget’s emphasis on skilling and training. The government’s plan to skill 20 lakh youth over the next five years and support first-time employees aligns well with NIIT’s core business of providing educational and training services.
As of 11:29 AM the shares of NIIT were trading 5.45% higher at ₹115.61 on NSE.
