Hot Pursuit     06-Oct-22
Persistent Systems gallops after broker upgrades rating
Persistent Systems jumped 6.55% to Rs 3513.25 after a foreign broker reportedly upgraded the stock to 'overweight' from 'neutral' with a revised price target of Rs 4,100.
According to the reports, the foreign broker said that Persistent Systems had a relatively defensive portfolio with exposures to software tech, BFSI and medical clients and has the highest exposure to US-based clients who are relatively better placed on tech spending as opposed to Europe clients.

The company derives the highest share of its revenues in dollars, which has been strengthening against the Indian currency. The broker expects Persistent Systems to clock the highest earnings CAGR of 25% over FY22-25E.

Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization. The company's consolidated net profit rose 5.3% to Rs 211.61 crore on 14.7% increase in revenue to Rs 1878.11 crore in Q1 June 2022 over Q4 March 2022.

In the past one year, the stock has fallen 5.47% as against the Sensex's 1.58% decline.

Previous News
  Persistent Systems consolidated net profit rises 34.89% in the December 2022 quarter
 ( Results - Announcements 18-Jan-23   17:51 )
  Persistent Systems fixes record date for interim dividend
 ( Market Beat - Reports 11-Jan-23   15:16 )
  Persistent Systems enters into strategic partnership with Google Cloud
 ( Corporate News - 11-Jun-24   15:20 )
  Persistent Systems consolidated net profit rises 36.02% in the September 2022 quarter
 ( Results - Announcements 19-Oct-22   17:56 )
  Persistent Systems fixes record date for interim dividend
 ( Market Beat - Reports 18-Jan-23   19:24 )
  Persistent Systems consolidated net profit declines 0.77% in the March 2020 quarter
 ( Results - Announcements 05-May-20   23:04 )
  Persistent Systems completes acquisition of Capiot Software Inc.
 ( Corporate News - 07-Nov-20   12:07 )
  Persistent Systems AGM scheduled
 ( Corporate News - 11-Jun-20   11:04 )
  Volumes spurt at Persistent Systems Ltd counter
 ( Hot Pursuit - 29-Jan-19   11:00 )
  Persistent Systems
 ( Analyst Meet / AGM - Conference Call 30-Apr-19   12:14 )
  Persistent Systems completes acquisition of Persistent Systems Germany GmbH and Youperience GmbH
 ( Corporate News - 02-Jul-19   13:41 )
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