Buy Persistent Systems, target price Rs 5700: Motilal Oswal

Motilal Oswal has buy call on Persistent Systems Ltd. with a target price of Rs 5700. The current market price of Persistent Systems is Rs 4589.9.

Persistent Systems Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 70608.05 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-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 2767.81 Crore, up 5.59 % from last quarter Total Income of Rs 2621.31 Crore and up 18.14 % from last year same quarter Total Income of Rs 2342.82 Crore. Company reported net profit after tax of Rs 306.42 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 31.02 per cent stake in the company as of 30-Jun-2024, while FIIs owned 22.55 per cent, DIIs 28.22 per cent.