 "Persistent Systems dips on muted Q4 revenue growth outlook")
Shares of Persistent Systems have dropped nearly 6% to Rs 763 on the National Stock Exchange (NSE) in early morning trade after the information technology (IT) company said that the revenue growth in dollar terms is expected to be muted in January-March 2015 quarter (Q4 FY15, due to a change in the business priorities of one of large customers in the product engineering segment.
Margins would see some pressure due to ongoing investments in research and development and sales and marketing, Persistent Systems said in a business update for January-March 2015.
Meanwhile, the company said, it sees excellent traction in the enterprise segment, specifically for the company’s offering in platforms and enterprises digital transformation (EDT) space.
Demand environment continues to be favourable and the company is optimistic about its market positioning, opportunities and growth plans for FY16, it added.
At 0926 hours, the stock was trading lower by 2.3% at Rs 787 with a combined 54,141 equity shares changed hands on the counter on NSE and BSE.
In past one week, the stock has declined 18% from Rs 934 (adjusted to 1:1 bonus) after turning ex-bonus, compared with 1.5% fall in the CNX Nifty.
Margins would see some pressure due to ongoing investments in research and development and sales and marketing, Persistent Systems said in a business update for January-March 2015.
Meanwhile, the company said, it sees excellent traction in the enterprise segment, specifically for the company’s offering in platforms and enterprises digital transformation (EDT) space.
Demand environment continues to be favourable and the company is optimistic about its market positioning, opportunities and growth plans for FY16, it added.
At 0926 hours, the stock was trading lower by 2.3% at Rs 787 with a combined 54,141 equity shares changed hands on the counter on NSE and BSE.
In past one week, the stock has declined 18% from Rs 934 (adjusted to 1:1 bonus) after turning ex-bonus, compared with 1.5% fall in the CNX Nifty.