What’s fuelling Persistent Systems stock in a weak market?
Persistent continued to increase headcount for the second consecutive quarter reflecting rising offshoring element in the revenue and expanding order book.
Synopsis
The company bagged deals with a total contract value of $ 246.5 million in the March quarter. Of this, more than half or $ 137.7 million was from new clients. This augurs well given the company’s focus on reducing client concentration.
ET Intelligence Group: The stock of Persistent Systems has gained 7% in the past two trading sessions after its strong fourth quarter performance. In addition, the Pune headquartered mid-tier software exporter reported a double digit growth in revenue for FY21 with improved operating margin. The momentum in deal wins continued in the March quarter thereby improving revenue visibility.
The company bagged deals with a total contract value of $
