India's Persistent Systems hits 10-month high after CLSA's bullish commentary

Persistent Systems

24/11/2025 06:28

** Shares of Persistent Systems PERS.NS rise as much as 2.06% to a 10-month high of 6426.50 rupees apiece

** CLSA reiterates "high conviction outperform" rating for PERS, citing "proactive" deal wins, stellar execution and focus on artificial intelligence (AI)

** Maintains price target of 8,270 rupees, an implied upside of 31% over 12 months

** Sees strong demand and pipeline for PERS in BFSI vertical, followed by hi-tech and healthcare segments

** PERS' gains in line with the broader IT index .NIFTYIT, up 1.2%, on rising expectations of a U.S. rate cut in December

** New York Fed President says interest rates could fall in the near term, boosting IT companies

** IT companies could benefit from U.S. rate cuts as it boosts the broader economy and client spending, boosting earnings outlook for the sector, two analysts say

** PERS shares are down 2.5% in 2025 so far, lagging the 14% fall in IT index .NIFTYIT, exchange data shows

 (Reporting by Bharath Rajeswaran in Bengaluru)

 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))