Persistent Systems is trading higher by 4% at Rs 519, also its record high on the BSE, on the back of heavy volumes. As many as a 799,380 shares have already changed hands on the counter in morning deals against an average sub 350,000 shares that were traded daily in past two weeks on both the exchanges.
According to disclosure made by the company, the foreign institutional investor, Norwest Venture Partners FVCI – Mauritius has sold 2.66 million shares representing 6.64% stake of the company via open market sale between December 17 and December 19.
The IT consulting and software company however, not disclosed the name of the buyers.