Buy Persistent Systems, target price Rs 3930: Kotak Securities

Kotak Securities Limited has buy call on Persistent Systems Ltd. with a target price of Rs 3930. The current market price of Persistent Systems is Rs 3876.6.

Time period given by analyst is Intra Day when Persistent Systems Ltd. price can reach defined target.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 29744.61 Crore) operating in IT Software sector.


Persistent Systems Ltd. key Products/Revenue Segments include Software Services and Software Licence for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1268.73 Crore, up 10.00 % from last quarter Total Income of Rs 1153.39 Crore and up 25.29 % from last year same quarter Total Income of Rs 1012.61 Crore. Company reported net profit after tax of Rs 151.25 Crore in latest quarter.

Investment Rationale
Breakout from the Ascending Triangle with rising volume suggests bullish continuation to persist.

Promoter/FII Holdings
Promoters held 31.3 per cent stake in the company as of June 30, 2021, while FIIs held 19.4 per cent, DIIs 29.2 per cent and public and others 20.1 per cent.