Meanwhile, there were recent media reports that, Indian Institute of Information Technology (IIIT) will be coming to Pune. Guardian minister Girish Bapat announced the decision which put an end to the long wait of having one of the 20 proposed IIITs in the Mumbai-Pune corridor by the ministry of Human Resource and Development (HRD). It will be located in Chakan.
For IIIT Pune, the government has joined hands with Rolta India Limited, Mumbai, Hubtown Limited, Mumbai and Quick Heal Technologies Private Limited, Pune. The industry partners for IIIT Nagpur are NDCC, Nagpur and Tata Consultancy Services Limited, Mumbai. The total estimated expenditure for the venture is Rs 128 crore. As many as 40 acres in Chakan have been allotted to the project where work will begin immediately as the government plans to begin admission from academic year 2016-17," announced Bapat.
Moreover, Rolta Ltd has a P/E of only 2.47 against the industry average of 22.60. Now if the company gets a decent P/E of 15, then the shares can trade above Rs.200.