India's Persistent Systems gains; JPM backs co's resilience amid macro challenges

Persistent Systems

18/02/2025 05:13

** India's Persistent Systems  PERS.NS  climbs 2.7% to
5,679.45 rupees 
    ** Stock set to snap a six-session losing run, if gains hold
 
    ** JP Morgan says it prefers the IT services firm due to its
ability of navigating tough macro environment and "coming out
with flying colors"
    ** Brokerage sees PERS as the fastest growing company in its
coverage over FY25-FY27
    ** Adds that PERS' success vs peers is due to its smaller
size and 1-2 large deal wins can skew positive outcomes
significantly
    ** Winning large deals at the right time will continue to
aid PERS to drive sector-leading growth - JPM 
    ** Brokerage retains its "overweight" rating on stock with
PT of 7,200 rupees 
    ** PERS among seven stocks rated "hold" on 10-member IT
index  .NIFTYIT  - according to data compiled by LSEG 
    ** YTD, stock down 12% vs IT index's 4.4% decline


    

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))