India's Persistent Systems hits record high on Q2 profit rise

Persistent Systems

23/10/2024 07:36

** Shares of IT services provider Persistent Systems
 PERS.NS  rise as much as 12.4% to hit record high of 5,798.70
rupees
    ** Co on Tuesday reported a 23.4% YoY rise in Q2
consolidated profit and rev from ops rose 20.1%
    ** 17 out of 29 analysts raised their PT since Tuesday,
including top-rated ICICI Securities, PhillipCapital (India) -
LSEG data
    ** Co's median PT lifted by 14.7% from last month to 5,200
rupees - LSEG data 
    ** Co and Coforge  COFO.NS , with more than 10% rise, are
top pct gainers on Nifty IT index  .NIFTYIT , which is up 3%
    ** Stock marks sharpest intraday pct gain since Sept. 14,
2020
    ** More than 1.5 mln shares change hands, 3.8x the 30-day
avg    
    ** Stock last up 11.1%, bumping YTD gains to 55.1%

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))