Persistent Systems Ltd News

Persistent Systems' market cap hits Rs 1 trillion; zooms 101% from June low

At 10:16 AM, with a market cap of Rs 1.01 trillion, Persistent Systems was trading 2 per cent higher at Rs 6,473.05 on the BSE, exchange data showed

Nifty IT index hits record high on December 10: Here's what drove the rally

By 11:11 AM, the Nifty IT index had come off its peak but was still trading 0.82 per cent higher at 45,199.40. In comparison, the broader Nifty50 index was up a modest 0.11 per cent at 24,646.30

IT stocks: Persistent Systems, LTIM, TCS, Infosys surge up to 5% on Nov 6

The information technology (IT) stocks were in great demand on Wednesday, with Nifty IT index surging 3.56 per cent in intraday deals

Growth trajectory to aid higher valuations for Persistent Systems

The company continues to outpace the industry. Healthcare, and banking, financial services and insurance (BFSI) were the two verticals contributing to growth

Nifty IT index surges nearly 3%; Coforge, Persistent zoom 12% on strong Q2

Analysts anticipate growth momentum to return in FY25 for IT sector, aided by a lower base coupled with easing sectoral headwinds.

Persistent Systems share price rallies 10% on strong September qtr results

Persistent System's consolidated net profit grew 23.44 per cent to Rs 324.90 crore in the September quarter (Q2FY25). The company's profit stood at Rs 263.2 crore in the year-ago period (Q2FY24)

Persistent Systems Q2 results: Net profit grows 23% to Rs 325 crore

IT services firm Persistent Systems has reported a 23.44 per cent increase in consolidated net profit to Rs 324.9 crore in the September 2024 quarter. The company's profit stood at Rs 263.2 crore in the year-ago period. Revenue from operations for the quarter under review was Rs 2,897.1 crore, up 20.13 per cent from Rs 2,411.6 crore in the quarter-ended September FY24. "This quarter, we continued to strengthen our capabilities and advance our AI-led, platform-driven services strategy. We brought on Starfish Associates to elevate our AI-powered contact center modernisation; the addition of Arrka expands our comprehensive offerings in digital governance, including data privacy, AI governance and cybersecurity," its CEO and Executive Director Sandeep Kalra said. During the quarter, the order booking was USD 529 million (around Rs 4,447 crore) in Total Contract Value (TCV) terms. The Pune-headquartered firm has a global headcount of more than 23,200 employees, with 19,899 staff in ...

Why did Mphasis, Nifty IT gain up to 4% after US Fed cut rates by 50 bps?

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Mphasis, Infosys fall up to 6%, Nifty IT 3% ahead of Fed rate cut decision

The fall in IT stocks may also be attributed to a report which says Accenture Plc is planning to push back the bulk of its staff promotions by six months

Persistent Systems hits new high on buying SoHo Dragon assets worth $4.7 mn

The total purchase consideration payable for the acquisition is $4.70 million

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'

The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.

Technology shares in demand; Nifty IT index rises 2%, TCS nears record high

The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.

Nifty IT soars 2% amid positive US job data, rebound in global markets

The rally in IT stocks came on the heels of a major drop in US jobless claims, which fell to 233,000 for the week ending August 3-the largest decline in nearly a year.

US will be bigger growth engine than Europe for Persistent System, says CEO

Kalra is confident that North America will continue to be a growth engine for the company going forward

JK Cement, JSW Steel, Polycab among 10 stocks to go ex-dividend on Tuesday

These 10 companies had fixed July 09 as the record date for a dividend payout of up to Rs 30 per share.

Persistent Systems hits 52-week high on acquiring US firm for $20.7 mn

Persistent Systems Inc., the US-based subsidiary of company, entered into a stock purchase agreement on July 2, 2024, to acquire Starfish Associates for a total acquisition cost of $20.7 million

Nifty IT index jumps 2%; Tech Mahindra, Persistent trade at 52-week highs

The Nifty IT index has outperformed surging 14% in the last one month owing to the recent portfolio shift after the election outcome, and hope for a better calendar year 2025.

Accenture Q3 results: Demand slowdown in Indian IT bottoming, say analysts

What Accenture results mean for Indian IT: Analysts believe FY25 Street estimates for Indian IT companies have been adequately rationalised, implying little downgrade risk from current levels