India's Persistent Systems jumps on strong Q2 results, positive outlook

Motilal Oswal Financial Services

19/10/2023 05:59

** Shares of Persistent Systems  PERS.NS  rise 3.93% to
5940.1 rupees
    ** IT company posts better-than-expected Q2 revenue, aided
by strong deal wins
    ** PERS reiterates confidence in strong growth in
second-half of FY24, in contrast to larger peers Infosys
 INFY.NS , HCL Tech  HCLT.NS  and Wipro  WIPR.NS  
    ** PERS to deliver PAT CAGR of 16% over FY23-FY25 -
brokerage Motilal Oswal
    ** Motilal sees deal wins supporting strong growth of PERS
in second-half of FY24
    ** PERS among top gainers in IT index  .NIFTYIT , which is
trading flat in a weak market; Nifty 50 down 0.5%
    ** Including today's gains, PERS up ~53% so far in 2023,
compared to 10.5% rise in IT index 

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))