Stock market news: Persistent Systems shares slips 3%

NEW DELHI: Shares of Persistent Systems Ltd. traded 2.95 per cent down in Friday's trade at 11:38AM (IST). Around 20,165 shares changed hands on the counter.

The scrip opened at Rs 1329 and touched an intraday high and low of Rs 1329 and Rs 1201.1, respectively, in the session so far. Shares of the company of Persistent Systems Ltd. quoted a 52-week high of Rs 1389.95 and a 52-week low of Rs 420.

Total market cap of the Persistent Systems Ltd. stood at Rs 9578.73 crore at the time of writing this report.

Key Financials
The company reported consolidated net sales of Rs 991.38 crore for the quarter ended 30-Jun-2020, up 7.02 per cent from previous quarter's Rs 926.36 crore and up 19.14 per cent from the year-ago quarter's Rs 832.11 crore.

The net profit for latest quarter stood at Rs 90.01 crore, up 9.14 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Sep-2020, domestic institutional investors held 25.99 per cent stake in the firm, while foreign institutional investors held 18.74 per cent and the promoters 31.29 per cent.

Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 27.54 and a price-to-book ratio of 1.77. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Persistent Systems Ltd. belongs to the IT Consulting & Software - Mid Cap industry.