India's Persistent Systems slumps on margin miss; brokerages flag macro headwinds

Persistent Systems

24/07/2025 05:38

** Shares of Persistent Systems PERS.NS fall 7% to 5,216 rupees, marking their steepest intraday percentage loss in four months

** Stock top loser in Nifty IT index .NIFTYIT, which is down 1.2%

** Co posts higher quarterly profit, but analysts flag macro headwinds that could hit future growth

** Macquarie and HSBC say EBIT margin, at 15.5%, falls short of expectations

** Macro uncertainty is slowing down client decision-making, especially in healthcare - Nomura

** HSBC maintains "hold" rating; sets TP at 6,000 rupees, implying upside of 7% from last close

** Macquarie retains "Outperform"; TP at 7,330 rupees, upside of 30.7%

** Nomura keeps "Neutral"; cuts TP to 5,510 from 5,700 rupees

** PERS rated "Hold" on average; median TP 5,836 rupees – data compiled by LSEG

** Stock down 19% YTD

(Reporting by Rudra Pratap Singh in Bengaluru)

((rudrapratap.singh@thomsonreuters.com))