Persistent Systems hits 9-month high; rallies 15% in 3 days post Q3 results

The company's strong performance in recent years, healthy order book, and strong deal pipeline indicate an encouraging demand trend, said Motilal Oswal

Shares of Persistent Systems continued their northward movement for the third session to hit a nine-month high of Rs 4,540 on surging 5 per cent on the BSE in Monday’s intra-day trade.

The stock of the information technology (IT) company was trading at its highest level since April 11, 2022. It hit a 52-week high of Rs 4,950.35 on April 5.

Persistent Systems has rallied 15 per cent in the last three sessions after the company said it won several large deals across industries and service lines, driving 20 per cent sequential growth in total contract value (TCV)