Persistent Systems gallops after broker upgrades rating

6 Oct 2022 , 02:36 PM

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 companys 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 Sensexs 1.58% decline. Powered by Capital Market – Live News