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PERSISTENT SYSTEMS Plunges 5%; BSE IT Index Down 2.7%
Thu, 31 Oct 12:18

PERSISTENT SYSTEMS Plunges 5%; BSE IT Index Down 2.7%Image source: CreativaImages/www.istockphoto.com

PERSISTENT SYSTEMS share price has plunged 5% and is presently trading at Rs 5,316.6.

Meanwhile, the BSE IT index is at 40,367.3 (down 2.7%).

Among the top losers in the BSE IT index today are Tech Mahindra (down 4.7%) and Mphasis (down 4.4%).

Firstsource Solutions (up 1.5%) and Mastek (up 1.3%) are among the top gainers today.

Over the last one year, PERSISTENT SYSTEMS has moved up from Rs 3,033.8 to Rs 5,316.6, registering a gain of Rs 2,282.8 (up 75.2%).

On the other hand, the BSE IT index has moved up from 31,119.8 to 40,367.3, registering a gain of 29.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 179.6%), Firstsource Solutions (up 119.9%) and PERSISTENT SYSTEMS (up 75.2%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,517.5 (down 0.5%).

The top losers among the BSE Sensex today are Tech Mahindra (down 4.7%) and HCl Tech. (down 3.1%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,236.8 (down 0.4%). Tech Mahindra and HCl Tech. are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,112.7 to 79,517.5, registering a gain of 15,404.8 points (up 24.0%).

PERSISTENT SYSTEMS Financial Update...

PERSISTENT SYSTEMS net profit grew 23.4% YoY to Rs 3,250 million for the quarter ended September 2024, compared to a profit of Rs 2,633 million a year ago. Net sales rose 20.1% to Rs 28,972 million during the period as against Rs 24,117 million in July-September 2023.

For the year ended March 2024, PERSISTENT SYSTEMS reported 18.7% increase in net profit to Rs 10,935 million compared to net profit of Rs 9,211 million during FY23. Revenue of the company grew 17.6% to Rs 98,216 million during FY24.

The current Price to earnings ratio of PERSISTENT SYSTEMS, based on rolling 12 month earnings, stands at 66.4.


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