India's Persistent Systems rises after brokerages hike price targets

Persistent Systems

22/01/2026 06:19

** Shares of India's Persistent Systems jump 0.66% to 6267.50 rupees

** Brokerage Macquarie ("outperform", hikes PT to 7750 rupees from 7450 rupees earlier) says co delivered solid beat in Q3, expects margin expansion through FY26 from sales and marketing leverage

** Citi Research (raises PT 5455 rupees from 5330 rupees)says co continues to grow well ahead of industry, but flags limited upside given its premium valuation

** On Tuesday, IT services co posted ~18% y/y growth in quarterly revenue to 37.78 bln rupees ($412.40 mln), profit up ~15% y/y

** PERS rated "hold" on avg by 35 analysts covering it; median PT at 6368 rupees- data compiled by LSEG

** 207,358 shares traded on the day, ~50% the 30-day avg of 407,379 shares

** PERS was down ~3.4% in 2025; PERS flat YTD

($1 = 91.6100 Indian rupees)

(Reporting by Komal Salecha and Surbhi Misra in Bengaluru)

((Komal@thomsonreuters.com))