PERSISTENT SYSTEMS Plunges by 7%; BSE IT Index Down 2.7%

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PERSISTENT SYSTEMS Plunges by 7%; BSE IT Index Down 2.7%
Fri, 3 Apr 03:25 PM

PERSISTENT SYSTEMS share price has plunged 7% and is presently trading at Rs 545.

Meanwhile, the BSE IT Index is at 12,240 (down 2.7%).

Among the top losers in the BSE IT Index today are PERSISTENT SYSTEMS (down 7.0%) and L&T TECHONOLOGY (down 6.0%).

ORACLE FINANCIAL (up 5.0%) and ECLERX SERVICES (up 3.0%) are among the top gainers today.

Over the last one year, PERSISTENT SYSTEMS has moved down from Rs 631 to Rs 545, registering a loss of Rs 86 (down 13.6%)..

The BSE IT has moved down from 15,532 to 12,240, loss of 3,292 points (down 21.2%) during the last 12 months.

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What About the Benchmark Indices?

The BSE Sensex is at 28,639 (down 2.3%). The top gainers among the BSE Sensex stocks today are SUN PHARMA (up 9.6%). The most traded stocks in the BSE Sensex are ONGC and ITC.

In the meantime, NSE Nifty is at 8,357 (down 2.0%). SUN PHARMA (up 9.5%) and CIPLA (up 8.4%) are among the top gainers in NSE Nifty.

Over the last 12 months, the BSE Sensex has moved down from 38,872 to 28,639, registering a loss of 10,233 points (down 28.97%).

PERSISTENT SYSTEMS Financial Update...

PERSISTENT SYSTEMS net profit down at Rs 879 million for the quarter ended December 2019, compared to a loss of Rs 917 million a year ago. Net Sales rose 6.8% to Rs 9.2 billion during the period as against Rs 8.6 billion in October-December 2018.

For the year ended March 2018, PERSISTENT SYSTEMS reported 3.3% increase in net profit to Rs 3.2 billion compared to net profit of Rs 3.1 billion during FY17.

Revenue of the company grew 5.4% to Rs 30 billion during FY18.

The current Price to earnings ratio of PERSISTENT SYSTEMS, based on rolling 12 month earnings, stands at 11.8x.



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